Wheat Futures Continue to Decline on Improving Conditions
Feed and grain prices were mixed on Wednesday, with gains in the soybean complex and 2020/21 corn contracts while deferred corn futures and wheat prices fell. A survey suggesting farmers would plant more corn and wheat acres and fewer soybean acres than the United States Department of Agriculture (USDA) predicted at its Agricultural Outlook Forum last month contributed to the strength in soybean futures. The report also contributed to the selling of wheat and deferred corn contracts. However, the recent improvement in growing conditions in the U.S. Plains also pressured wheat values.
Soybean futures rose by more than 1/2 percent (May contract +9 1/2 cents per bushel) on the strength in soybean oil prices, gains in 2020/21 soybean meal contracts, and concerns about additional harvest delays in Brazil. The most…
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...