Wheat midds saw a mixed call today with lighter movement for Kansas City. Decent run times were reported along with active demand. Going forward, value for wheat midds is sturdy given the valuation of other grain pricing in the market.
May wheat futures contracted significantly today, at midsession shortly after the release of the WASDE, hitting limit down to $12.01. May corn futures were lower by $0.020/bu to $7.33, May soybeans down $0.18/bu to $16.71, and May soybean meal was higher by $1.40/st to $474.70, all showing little to no affect from the publication of the WASDE report.
March WASDE Shows Low Impact on Daily Markets
The March World Agriculture Supply and Demand Estimates (WASDE) released by the USDA was highly anticipated with the continued conflict between Ukraine and Russia. According to a Bloomberg…
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...