Market Update

DDGS and corn gluten items were called lower for the day. Values as low as $200/st were indicated in several DDGs regions. Pricing as soft as $150/st Midwest barge and $160/st mw truck were reported on corn gluten feed. Depressed pricing levels and wide ranges have been persistent in several animal feed markets due to the drop on corn and soybean CBOT as well as a hand-to-mouth tone.

US CBOT values have continued to drop at the start of the short holiday week. US wheat futures have tumbled, falling below corn prices briefly Tuesday for the first time since 2013 on a combination of lackluster demand and ample stockpiles. Accounts of massive stockpiles in major producing countries have been indicated for winter wheat in Russia, the EU and the US, which is expected to increase excess supply in the months ahead.

Crude oil continues to pressure most of the soybean complex. Values dropped on oil and meal on accounts of increased…