Wheat Midds Higher While CGM Pressure Persist; GCAU’s Forecasted Lower Out Front

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Wheat Midds Higher While CGM Pressure Persist; GCAU’s Forecasted Lower Out Front

The Jacobsen | 05.17.2023

Market Update

Wheat midds were communicated as firmer for the near term on most published markets due to plant down time and the upcoming holiday thinning inventories. The reductions in run times paired with consistent demand levels have tightened offering levels for the current session. Out front, expectations are for a softer tone, most likely due to increased run times as well as the erosion on the grain boards.

Corn gluten meal remains severely under pressure. Most values moved lower today on diminished interest and higher...

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Chinese Footwear Tanners Active in Hide Market

Chinese Footwear Tanners Active in Hide Market

Interest is mainly from Chinese hide tanners who want to buy material at cheaper or steady to current market...

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Rapid Planting, Black Sea Extension Crush SBO Prices Further

Rapid Planting, Black Sea Extension Crush SBO Prices Further

Vegetable oil prices continued to sell off on Wednesday, with funds taking profits and liquidating long positions, particularly in...

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The Jacobsen Biofuel Conference Sees Record Attendance

The Jacobsen Biofuel Conference Sees Record Attendance

 

The Jacobsen/Fastmarkets Biofuel and Feedstock Conference

The first day of the two-day conference provided a strong speaking platform. The session...

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Conference, Plunge in Soybean Oil Prices Limit Trading

Conference, Plunge in Soybean Oil Prices Limit Trading

Market activity was dull again on Tuesday, with few price indications and or deals reported. Many sources were attending the...

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Steady Call For Tuesday; Proposition 12 Expected to Affect Pork Pricing Out-Front

Steady Call For Tuesday; Proposition 12 Expected to Affect Pork Pricing Out-Front

Values for Tuesday were mixed with most items remaining rangebound. Limited offering levels supported bloodmeal values. However, fluctuations continue...

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Quick Planting Paces Diminish CME Grains

Quick Planting Paces Diminish CME Grains

CME main grain pricing levels were down substantially on some main grain items due to decreases in Brazilian production...

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Hide Buyers Anticipate More Leather Orders in Summer

Hide Buyers Anticipate More Leather Orders in Summer

Another quiet day of hide trading, but interest is expected to come after packers release offer lists tonight. The...

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Soybean Oil Futures Plunge Below 48 Cents Per Pound

Soybean Oil Futures Plunge Below 48 Cents Per Pound

Edible oil futures prices were lower on Tuesday. Palm oil markets fell overnight alongside weakness in rival vegetable oils...

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