MBM and BM mixed to softer on lower demand
For Tuesday April 16, animal proteins were mixed with most market sources indicating pressure on meat and bonemeal (MBM)...
It was an active day in the distiller’s corn oil (DCO) market on Tuesday with pressure from the cash soybean oil market weighing on FOB truck values. Trading was broadly done in a range of 40-42 cents/lb today on an FOB basis for May with some trading done as high as 43 cents lb.
Sources said they heard bids “in the 30’s” for material FOB ethanol plants on Tuesday morning, but no trades were confirmed below 40 cents lb. Trading into the Gulf was indicated...