CME grain prices were mixed today. December wheat decreased $0.0725, closing at $5.84/bu, while November soybeans dropped $0.0125 to settle at $13.15/bu. In addition, October soymeal increased by $1.10 to reach $391.50/st, and December corn rose by $0.0475 to $4.76/bu. The release of the latest crop progress report caused prices to fluctuate today. However, harvest pressure is beginning in the U.S., leading to a decline in soybean prices. Despite showing some strength after attracting bargain buyers, corn prices are hovering near a three-year low.
Crop Progress September 18
As of September 17th, the condition of the corn crop declined compared to last week. The national averages indicate that 20 percent of the crop is reported to be in poor to very poor condition, while 29 percent is fair, and 51 percent is in good-to-excellent condition. Last year’s…
09.06.2024
Signs of US economic downturn send ULSD prices to 3-year low
Shifting economic conditions are raising the possibility of a US recession. The US Bureau of Labor Statistics (BLS) released the jobs report on Friday September 6, which showed that...
09.06.2024
US fat market slides on pressure from soybean oil, energy complex
Used cooking oil (UCO), distillers’ corn oil (DCO) and yellow grease all traded lower on Friday September 6 due to pressure from the sinking heating oil and soybean oil...
09.06.2024
Sluggish trade volume keeps weekly animal protein prices flat
US animal protein prices were steady on Friday September 6, with market participants indicating light traded volumes for products.
Weekly wrap-up
Prices for US animal proteins were little...