Owensboro Grain Company produces a vast array of products from soybeans at its plant locations on the Ohio River in western Kentucky. The company’s soy products include protein meal and hull pellets for animal feeds, crude and degummed oil, lecithin, various blends of refined vegetable oil for human consumption, biodiesel and glycerin.
Because of our location on the Ohio River, we respond quickly to market demands by being able to ship by truck, rail, or river. Being located on the River makes our Company a perfect supplier to the world marketplace. We represent a small segment of the soy processing industry; however, as a former CEO once said “if you’re little, you have to be quick.” So, we make a conscientious effort to respond rapidly to customer demands.
We strive for perfection at each step of our processing operations. It starts with the inspection of inbound soybeans and the management of grain elevator logistics. This desire to exceed expectations continues in the soybean crushing plant, where protein specs and crude oil quality are monitored. Then, we strive to maintain excellence in the edible oil refinery, where bleaching, deodorization and hydrogenation take place.
National average soybean basis of 51 cents over the July futures is 1 cent higher than last week and continues to move well above the five-year average of the strongest basis at this time. Soybean basis has continued to rise and is 82 cents higher than the DTN five-year average basis for the third week of May. Most U.S. basis levels have been positive since April and continue to climb as tight old-crop supplies remain a concern for crushers. Basis along the river was stronger last week with April barge placements completed and end users needing to buy spot supplies after flooding kept them from unloading grain onto barges.