Selling Across Ag Markets Weigh on Feed and Grain Prices
Oilseed and grain prices were mostly sharply lower on Thursday as a substantial decline in crude oil prices contributed to widespread selling in agricultural markets. However, fund liquidation of long oil share positions helped support soybean meal prices. Improving growing conditions in South America may have also contributed to the weakness in corn and soybean prices.
USDA released its weekly Export Sales report with data for the week ending March 18. Sales of old-crop corn totaled 4.48 million tonnes, above the upper end of market expectations ranging from 3.8 to 4.7 million tonnes. The total was well above last week’s total of 985,890 tonnes. Sales of new-crop corn totaled 144,600 tonnes, near the lower end of market expectations ranging from zero to 500,000 tonnes, but below the 240,876 tonnes sold last…
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...
05.03.2024
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...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...