Market participants observed slow trading activity last week and at the start of this week, with reports aligning with current price ranges. Sources also noted that some suppliers are currently facing logistical challenges due to backed up rail cars.
CME grain prices were mixed on Tuesday. December wheat saw a decline of $0.0675, closing at $5.70/bu, and November soybeans recorded an increase of $0.105, settling at $12.96/bu. In addition, December soymeal rose by $9.60 to $399.80/st. while December corn dropped by $0.01, reaching $4.89/bu. Grain prices varied to close out the day. The price of soybeans showed a significant upward trend, surging by double digits, primarily due to strong demand in the U.S. and a slower planting pace in Brazil. Meanwhile, corn prices declined again today as harvest pressure continues.
Crop Progress October 16
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