Weekly Market Update

Grain and feed items were mixed throughout the week. This was influenced by scattered rainfall in the Heartland and weakening soybean demand. Nonetheless, the inconsistent amount of precipitation does not guarantee the 2023 corn crop’s safety from further heat damage. Participants indicated trading activity for DDGs was sluggish. Sources also cited support for DDG prices from the decrease in corn prices and the rise in soybean and meal values. However, exporters are still waiting for DDGs to match corn values.

Following the holiday, markets were stagnant. Corn gluten products remained steady, with variables such as weather patterns, held-up exports, and a lack of global demand remaining a problem for corn gluten products.

…