The mixture of rain and snow accumulating across the U.S. Midwest and East Coast left most prices unchanged on Tuesday. Several sources indicated road closures due to winter weather, leading to most prioritizing logistical concerns over trading. Meat and bonemeal continues to be indicated as bearish, with excess inventory and limited demand.

Pressure on Soybean Meal Heightens Bloodmeal Relative Price

Values for soybean meal have dropped significantly since the high reached in mid-November of $469.20/st. Since then, the values have been under pressure due to a variety of reasons. U.S. exports have weighed heavily on the markets with the high in November tied to increased exports to China. Recently, increased rains in South America have led to the drop in values with the yield expected to increase.

…