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Archer Daniels Midland said crush margins are strong, supported by demand for soybean meal in livestock feed and for oil used in cooking and biodiesel. Its CEO said chicken producers source most of its soymeal orders and that meal has a cost advantage over corn and wheat in rations.
Canola crush margins in Europe are also very strong because of biodiesel demand.
Firm feed-meal and vegetable oil demand supports crush margins and keeps soybean meal and oil prices supported. Strong biofuel-linked oil demand adds further support to the oil side of the crush.
grainpricenews.comMike VerdinJul 27, 2022Not 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.
