Sources reported trades for DDGS; Minnesota/Dakotas, Channahon, IL, and Illinois all saw a slight increase in price ranges. Market participants pointed out that the rally in soybean meal last week and the positive performance of corn futures contributed to the support of DDGS prices.
Most CME grain prices witnessed a downward trend on Monday. The only grain that experienced an increase was December wheat, which jumped by $0.0125 and closed at $5.87/bu. November soybeans decreased by $0.155 and settled at $12.86/bu. Additionally, December soymeal dropped by $3.40 and closed at $420.50/st., and December corn fell by $0.0525 to $4.90/bu. The market is currently facing ongoing concerns about harvest pressure, especially for corn. This resulted in technical selling for soybeans and corn, while wheat witnessed some bargain buying. On the other hand, market players are eagerly awaiting fresh harvest data from the USDA, which is set to be released today.
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