The latest reports indicate that DDGS prices decreased in certain states such as Minnesota/Dakotas, Illinois, and Iowa. Market participants have acknowledged weaker DDGS values and have expressed the challenges they are facing due to the current cold and snowy weather.
CME grain prices were mixed on Tuesday. March wheat declined $0.14, closing at $5.82/bu, and March soybeans increased by $0.03, settling at $12.27/bu. In addition, March soymeal rose by $9.00 to $371.10/st. while March corn dropped by $0.035, reaching $4.43/bu. Most grain prices are seen returning to the red following the release of the latest WASDE report by the USDA last Friday. Wheat prices suffered a double-digit loss due to competition overseas and ample global stocks, which have been driving prices down over the past few weeks. However, soybeans received limited support due to dropping production estimates in Brazil.
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