Market Update

CME grain pricing displayed positive movement, apart from soybean meal decreasing by $3.60 to reach $412.80/st. Corn had an impressive surge of $0.0350 and is now priced at $6.43/st, due to forecasted rainfall in the Midwest. Meanwhile, soybeans gained $0.1075 to reach $14.77/st, and wheat saw a hike of $0.0775 to stand at $6.95/st.

Soybean Recap June 20th

At the start of the week, U.S. soybean futures edged higher following the extended weekend. The fluctuation could be caused by recent forecast that indicates no rainfall in the Midwest, causing persistent drought conditions for recently planted corn and soybean crops. Additionally, weakening demand from China is keeping the markets from attaining multi-month highs as they did last week.

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