Soybean Meal Falls on Oil Share Spreading by Funds
Most feed and grain contracts were lower on Monday despite relatively bullish export inspection data. Improving South American weather conditions weighed on oilseed and grain contracts, while long oil share spreading by funds drove soybean meal futures sharply lower. Outside of late growing season weather in South America, traders are also looking forward to the United States Department of Agriculture’s (USDA’s) Prospective Plantings report, scheduled for release next week.
USDA reported export inspections for the week ending March 18 on Monday. Weekly shipments of corn totaled 1.96 million tonnes, in line with analysts’ expectations ranging from 1.6 to 2.2 million tonnes. The total was down from 2.27 million tonnes last week, which was a marketing-year high, suggesting that the U.S. corn export season peak may have…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
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BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
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US animal protein prices remain under pressure; soymeal rises
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