Market Update

High levels of unease have been witnessed on all of the animal feed items, as reformulations are not only witnessed on a nationwide level but globally. This has led to export cancellations, CBOT drops, and a more wait-and-see attitude.

Corn gluten meal was under extreme pressure this week and the day in general, with every published price dropping from last week or wider ranges due to unsettled tones. A hand-to-mouth tone was communicated on the interior. On the ocean side, hand to mouth can be difficult, however, diminished trade levels and lack of offers and bids have been reported. Values have been conveyed as quick moving with sine stating no bottom as of yet. Corn gluten feed has had diminished pricing levels on some items; however, lack of confirmable trade has been consistent for several weeks due to light volume.

DDGS were softer on all regions for the day as well. Most participants indicated the CBT corn drops weighing on the market as…