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…