The CME market for grain and feed witnessed notable gains and losses throughout the week. The USDA’s recent reports, including the November WASDE and export sales, had a considerable impact on the grain markets. The recent hot and dry weather forecasted in South America also significantly affected market trends.
On the other hand, soybean meal experienced a significant surge, as spot contracts increased more than $110 per ton in just five weeks. Multiple factors have contributed to this rally, such as firm cash market supply and strong export demand following the negative impact on SBM supplies in Argentina due to drought. Recently, the expectation of yield-replenishing rains in Brazil, along with rain expected to move across the U.S. Plains, has started to ease weather concerns in the market.
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12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...