DDGS prices have dropped in the Channahon, IL, Indiana, and Ohio markets on Monday, while other locations remained steady. Market participants noted that the market has weakened as corn and soybean meal have softened. Additionally, sources highlighted that demand needs to pick up in livestock usage.
CME grain prices were mixed on Monday. May wheat increased by $0.095, closing at $5.47/bu while May soybeans dropped $0.0475, settling at $11.79/bu. In addition, May soymeal dropped $4.20 to $337.20/st, but May corn rose $0.02 to $4.41/bu. Corn prices recorded modest gains following a wave of technical buying driven by support from a drier Brazilian forecast. Wheat prices displayed an increase after a round of bargain buying that boosted futures slightly above the recent multiyear lows. However, soybean prices faced moderate losses following a round of technical selling.
Weekly Soybean Crush
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