Market Update
Following the holiday, markets appear to be stagnant. Corn gluten products remained steady, and participants indicate trading activity for DDGs has been slow. Sources also reported that the decline in corn prices as well as the rise in soybean and meal prices appear to be supporting DDGs. However, exporters are still waiting for DDGs to match corn values.
CME grain pricing was mixed today. Corn decreased by $0.0275, falling to $4.85/st, Meanwhile, soybeans increased $0.0100 to $14.68/st. Soymeal was down $1.60 to $410.10/st and wheat increased by $0.3250 to $6.74/st.
Crop Progress July 2
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