Feb 16, 2018 05:42 PM
March soybean meal futures have risen 22% from their low on January 12 to the high set on Friday morning. Livestock feeders who were not hedged or under long term purchasing agreements are painfully aware of the increase, but most grain traders only see the side effects of this monster meal move. Soybean value is basically meal value plus oil value plus a margin to cover processing. With a 22% jump in the meal contribution, March soybeans have managed an 8.8% increase during that same period.