Most CME grain prices showed a downward trend on Wednesday. The only grain price that increased was May wheat, which rose $0.04 and closed at $5.47/bu. May soybeans decreased $0.065 and settled at $11.92/bu. Additionally, May soymeal dropped $0.80 and closed at $339.00/st, while May corn fell $0.0575 to $4.26/bu. Following a wave of technical selling, corn and soybean prices faced losses. The decline in corn prices was mostly due to large domestic stocks, while the drop in soybean prices was driven by the anticipation of record-breaking production in Brazil and an expected increase in U.S. acres this season. However, wheat prices managed to secure moderate gains as market players continue to evaluate the ongoing geopolitical tensions in the Black Sea region.
Weekly Ethanol Update
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05.14.2024
LCFS credit trading volumes, prices decline on week
California Low Carbon Fuel Standard (LCFS) credit volumes declined sharply while the average credit price moved lower in the week ended Sunday May 12, according to the figures released...
05.14.2024
Animal fats prices steady on the week; Weekly average DCO 36.89% under three year average
Animal fats prices were flat on Tuesday May 14, with limited trade volume reported. Several participants indicated doing trade ahead of the current week due to the Fastmarket’s Biofuels...
05.14.2024
Dog, cat food exports for Q1 2024 drop in price, volume year on year
Animal proteins prices were steady to lower on Tuesday May 14, with limited trade volume reported. Several participants indicated doing trade ahead of the current week due to the...