Market Awaits WASDE Report 

Wheat prices moved lower last week while corn and soybean prices traded fractionally on either side of “unchanged”.  Soybeans continue to react to the harvest and weather in Brazil. Domestically, both corn and soybeans are seeing tight stock situations, which will tend to amplify moves and volatility.  The market is awaiting tomorrow’s WASDE report while digesting the impact African Swine Fever and other diseases might have in the Chinese hog population.

Wheat and corn co-product prices are mostly holding steady for wheat midds, while DDGS values are moving lower to start the week.  It was reported that Iowa DDGS dipped all the way down to $217 per ton over the past week and are currently seen in the $215 to $225 range this week.  Regionally, Iowa is seeing the softest, or perhaps most competitive values.  Other regions are seeing DDGS trading in the $230 to $245 range…