Weekly Winners & Losers
One of these weeks I will be able to write about winners but for now, the parade of losers continues…
Dec meal made a low of $298.5 last week, marking the first time we have dipped below $300 since mid-2020:
Likewise, soybean oil dropped below 40c… and just kept on dropping, making new multi-year lows:
Board crush continues to hold its own, rallying back from the spring/summer dip into long-term average territory as new crop South American crush hit full bore:
Board crush is finding support as the losses in beans outpace the losses in meal and oil:
Meal has been the clear “winner” of the past 30 days though, partially winning by default as oil tanked, plus finding support from Argentine strikes and firming S Am meal premiums:
Speaking of meal, oil, and crushing - congrats to my friends at North Dakota Soybean Processors on the ribbon cutting and opening of their new crush facility in Casselton, ND!
(CGB, Minnesota Soybean Processors & NDSP representatives alongside North Dakota Gov. Doug Burgum for the ribbon cutting. Photo courtesy of NDSP)
The state-of-the-art soybean processing plant is a joint venture between CGB Enterprises and Minnesota Soybean Processors, crushing 42.5 million bushels of soybeans each year.
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