CME Grain Rally Persists on Ukraine-Russia Conflict

CME Grain Rally Persists on Ukraine-Russia Conflict

Market Update

Another market rally was witnessed on the CME Wednesday with wheat futures showing a 9-year high, up by ₵31.75 to $8.76. The wheat market surged on the Russia-Ukraine conflict along with lower inventory levels on the US and Canadian markets. Corn futures were up ₵9.00 to $6.83, soybeans rose ₵40.00 higher to $16.75, and soybean meal increased $17.40 to $471.10.

Wheat midds moved up on the day with reports of active trading. Higher pricing was attributed to limited regional run-times on the back of President’s Day paired with higher corn pricing. Offerings out of Kansas were reported as limited when compared to other areas.

DDGs Significantly Higher than Previous Yearly Averages

The current monthly pricing on distiller dried grains (DDGs) out of Iowa as of February 22 is at $230.63/TON, a 20.6 percent climb over January. This significant gain can be attributed to limited offerings in the markets, active demand, and higher pricing on the…

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LCFS credit volumes, average prices move higher

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**Please note – There will be no Biomass Based Diesel bulletin on March 29, 2024, in observance of Good Friday.**

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** Please note: The Jacobsen will not publish a bulletin on Friday, April 29 in observance of Good Friday. **

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