Market Update

Distilled dried grains (DDGs) and wheat midds were higher for most regions on the day as wheat prices hit limit up three days in a row while other grains saw significant volatility, but overall value rises. Some contacts have noted a standstill on forward DDG trades due to a more hand-to-mouth sentiment after increased volatility has been witnessed. Participants have reported tight offering levels in the East and spot product not as readily available.

Economists in the agricultural sectors have reported unease on new sanctions, stating it could create collateral damage for other countries as well as those that are imposing them. No trade movement out of Ukraine and Russia has also led to continued rallies on wheat and corn along with heightened volatility on soybeans, soybean meal, and soybean oil. items.