Organic corn prices remain stable, but bids in some parts of the Midwest have eased back to accommodate the unknown of new-crop pricing. We have heard bids as low as $9 per bushel for new crop and old crop, but most of the bids and offers are closer to $10 per bushel. The risk in this situation could be to the upside, as organic cracked corn imports could drop off.
The unknown is how grain and organic grain are going to make their way through the Black Sea region now that Russia has pulled out. Following the announcement that it would no longer take part in a grain deal; Russia attacked the Ukrainian Port of Odessa. Not only did the grain deal cap price volatility, but it also supplied important grains to many countries.
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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...