Corn basis: Basis bids around Decatur, IL were considerably higher during the April reconciliation period, compared to March 2023 and April 2022. Corn gluten meal and feed: Corn gluten meal and feed prices continue to decline, both seasonally and year over year. April CG [...]
Soybean oil prices continued to drift lower over last week, breaking below 50 cents per pound on Q4 2023 and 2024 futures for the first time in nearly two years. Since late November, spot soybean oil prices have fallen 25 cents per pound. Some [...]
Futures activity Jan-23 soybean oil futures dipped to $60 cents per pound early last week after two weeks of declines. Prices eventually rallied by about 3.0 to 3.5 cents per pound. Soybean futures were volatile in daily trades, but Jan-23 futures only fell 3 [...]
Futures activity Jan-23 soybean meal futures closed at $424.10 per short ton on Friday, up $12.40 for the week. Jan-23 soybean oil futures fell precipitously last week, starting at $0.7312 per pound Monday and closing Friday at $0.6522 per pound, down 11 percent. S&D [...]
Futures activity Nov-22 soybean futures ended last week at $13.9550 per bushel, up about $0.10 per bushel from the beginning of the week. After a Thursday rally, Dec-22 soybean meal closed the week at $417.90 per short ton. Dec-22 soybean oil also ended the [...]
Futures activity Soybean oil prices saw plenty of lift last week, with Dec-22 futures rallying 4.5 cents per pound back up to 66.60 cents per pound. The H1 2023 futures strip average is near 63.75 cents per pound. S&D and fundamental factors OPEC+ announced [...]
Futures activity The meal piece of the soy complex showed the greatest strength last week, with Jul-22 meal futures closing the week up $23 per short ton at $438.10. Conversely, soybean oil futures came under pressure, with the Jul-22 contract closing at $0.7379 per [...]
Futures activity The soy complex, in particular soybean oil, took strength off rallying crude oil prices last week, with spot soybean oil futures settling over 81 cents per pound yesterday and today, a 2.3-cent per pound rally on the week. S&D and fundamental factors [...]
