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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09.19.2024
SAF roadmap, collaborations announced at Bali International Airshow
At the event, coordinating minister for maritime affairs and investment Luhut Binsar Pandjaitan said he would call on Indonesian state-owned oil and gas company Pertamina to collaborate with airlines...
09.19.2024
US Gulf UCO prices edge higher; feedstock costs, REG Geismar fire create uncertainty, sources say
The US animal fats and oils markets — apart from used cooking oil (UCO) — were stable on Thursday September 19, with attention shifting toward broader macroeconomic trends.
09.19.2024
Animal protein prices steady; August cattle, hog slaughter down
US animal proteins were rangebound on Thursday September 19.
August commercial cattle, hog slaughter
Commercial cattle slaughter for August was at 2.66 million head, based on the USDA’s...