Market Update

Wheat midds were communicated as firmer for the near term on most published markets due to plant down time and the upcoming holiday thinning inventories. The reductions in run times paired with consistent demand levels have tightened offering levels for the current session. Out front, expectations are for a softer tone, most likely due to increased run times as well as the erosion on the grain boards.

Corn gluten meal remains severely under pressure. Most values moved lower today on diminished interest and higher offering levels as participants sit on the sideline awaiting expected pressure. CME grains has continue to place pressure on the market. An indication of $600/st was reported on the CIF NOLA barge, however, other participants have called the trade levels around $590/st due to the rate of decline. Trucks, barges, and rail have all noted diminished values, in varying degrees.

CME grain pricing levels were softer mid-week due to a variety…