There was a significant decline in the price ranges for corn gluten meal and corn gluten feed throughout the day. Market participants have noticed a lack of demand, leading to negative price pressure, especially for feed. Sources indicate that the market is very soft for feed and anticipate further price drops in the near term.
CME grain pricing had a negative trend today. May corn decreased $0.0375, falling to $4.26/bu. May wheat fell $0.13, dropping to $5.51/bu. May soybeans shifted down, with a decrease of $0.06 and settling at $11.49/bu. Additionally, May soymeal prices were down $3.60 to $329.90/st. The ongoing corn and soybean harvests in South America, coupled with large global grain stockpiles, have led to a decrease in corn and soybean prices. Wheat prices faced double-digit losses, following the downward trend seen in other commodities.
Weekly Soybean Crush
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