Key Takeaways:
The expansion of biofuel-driven soybean crushing was expected to increase soymeal supplies and pressure prices as soyoil became a larger driver of crush economics, but soymeal has instead retained considerable value. Strong domestic and global feed demand has helped absorb additional soymeal production, while the gradual expansion of U.S. crush capacity has prevented the sudden wave of new supplies that some had anticipated. U.S. soymeal exports have grown at a compound annual rate of roughly 7.0 percent over the past decade, compared with 3.9 percent growth in production, increasing exports from about 26 percent to nearly 35 percent of total production. Competing vegetable oils have helped satisfy growing biofuel demand wit...
What You Need to Know Today: New World screwworm is back in the headlines after new cases were found in a hunter-harvested elk in Texas and a beef cow in New Mexico. The detection in wildlife could further complicate containment efforts, as implementing effective biosecurity measures is consid...
Cattle on Feed Expectations USDA’s monthly Cattle on Feed report that will show cattle inventory statistics as of 1 October will be released tomorrow, 23 October. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100.3 percent of last year, which imp...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...
