05.15.2024
Soybean oil stocks fall with slowing April crush
The soybean crush totaled 166.034 million bushels, down by 15% from a record of 196.406 million bushels in March and down by 4% from 173.232 million bushels crushed in...
DDG prices were lower in the Minnesota/Dakotas, Indiana, Iowa, Michigan, and Ohio markets, while other regions remained steady on Monday April 15. Market participants said demand is flat, and exports are slow to recover, leading to a minor price decrease in most regions. Additionally, given the ongoing struggles faced by other proteins, there are expectations that DDGS will also face similar difficulties.
CME grain futures had a negative trend to start the week on Monday April 15. May corn decreased $0.04, falling to $4.31/bu. May wheat fell $0.0425, dropping to $5.51/bu. May soybeans decreased $0.1575, settling at $11.58/bu. Additionally, May soymeal prices were down $5.90 to $338.50/st. Planting making headway in the US, along with the ongoing harvest progress in South America, and a strengthening US Dollar, all these factors created enough bearish sentiment that sparked another round of technical selling at the start of the week.
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