Soybean Meal Prices in Central Illinois Hit 21-Month Low

Soybean Meal Prices in Central Illinois Hit 21-Month Low

Sources reported a few trades in the DDGS market today, with price drops in Illinois, Iowa, and Channahon, Illinois. However, trading activity has been minimal as market participants await additional information about the upcoming crop size.

Most CME grain prices witnessed an upward trend on Monday. The only grain that experienced a decrease was December soymeal, which dropped by $6.90 and closed at $374.30/st. November soybeans moved up by $0.02 to $12.77/bu. Furthermore, December corn rose by $0.12 to $4.88/bu, while December wheat surged by $0.2325 to reach $5.64/bu. Over the past few weeks, grain prices have been highly volatile, often experiencing brief moments of recovery. Wheat, which had previously reached multi-year lows, experienced a significant rebound and saw double-digit gains, along with corn.

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