DDGS prices were lower across the board on Monday March 25. Market participants said demand has slowed down due to integrators having meal locked in at -35 to -30 basis, which is negatively impacting the DDG market. Additionally, market sources said shutdown season is approaching, and plants are tight on feed.
Most CME grain prices had an upward trend on Monday. The only grain with a decrease was May corn, which dropped $0.015 and closed at $4.37/bu. May wheat increased $0.0025 and settled at $5.55/bu. Additionally, May soybean meal jumped $2.60 and closed at $341.70/st, and May soybeans rose $0.1675 to $12.09/bu. Grain prices started the week on a positive note as market players prepare for Thursday’s USDA Prospective Plantings report, which has the potential to impact the market. Soybean prices faced double-digit gains following a round of technical buying, supported by the strength in vegetable oil futures.
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