USDA March crush data was in line with expectations and with the data previously released by the National Oilseed Processors Association (NOPA). Per the USDA, 188.2 million bushels of beans were crushed during March, resulting in 2.22 billion pounds of oil and 4.18 million tons of meal. The March soybean crush was 14.5 percent over the February crush but two percent under the March 2020 crush. Crude oil production increased 15.2 percent and soybean meal output was of 14.4 percent over February output.
Soybean meal and soybean oil stocks fell to a three-month low. March meal stocks of 415,418 tons are 23.7 percent below February and fractionally under March 2020 stock levels. Crude soybean oil stocks of 1.86 billion pounds are 3.6 percent below February but 12.7 percent over levels at this time last year. Total soybean oil stocks, crude and once refined, are 2.5 billion pounds, 60,710 under…
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...