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Central Illinois soybean meal fell to $308.40/short ton in the week to November 22, a four-year low, while soybean oil dropped 5% to 42.85 cents/lb. The soybean crush margin fell 85 cents to $2.30/bu from its six-week average.
Lower meal and oil prices with a weaker crush margin signal ample meal supply and reduced crushing incentive. Soybean meal is cheaper for feed formulators, pressuring protein feed costs downward.
thejacobsen.comAlexandra WattsNov 25, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
USDA data show soybean oil down 5% to 42.85 c/lb in the week to Nov 22 alongside weak crush margins, which confirms the price drop in the window.
Weekly data show soyoil down 5% to 42.85 c/lb alongside a shrinking crush margin, confirming broad weakness in the product complex around the move.
