Price Update
Protein Price Update
Futures Recap
Markets were generally lower today. Sinograin announced that it would auction 150k tons of imported corn on June 5. This isn’t a large amount and seems to be a one-off auction, but it has come at a time when the market is already weighing bearish factors such as the availability of sprouted wheat and the auctions of old reserve rice to feed mills.
Urea also continues to fall and is now below the level it was at when the Strait of Hormuz was close...