The estimated crush margin narrowed 4.6 percent over the week, consolidating slightly lower after running higher three of the past four weeks. In Central IL, soybean costs increased 27 cents per bushel and meal pricing declined $3.60 per ton. Soybean oil values managed to keep reaching higher, climbing more than two cents per pound. Each 60-pound bushel of soybeans is crushed into about 46.5 pounds of meal and nearly 12 pounds of oil. Soybean oil prices moved to its highest closing level since 2012. Despite the lofty price for soybean oil, the move was not enough to offset both the rise in soybean cost and weaker revenue stream from meal. The value received from oil and meal sales per bushel of soybeans crushed advanced from $16.13 per bushel to $16.31, while soybean prices slipped from $14.34 to $14.61 cents…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...