Soybean Prices Plunge to a 3-Year Low in Central Illinois

Soybean Prices Plunge to a 3-Year Low in Central Illinois

DDGs prices were mostly steady across most locations, while the Minnesota/Dakotas market showed an increase. Market participants reported values that are consistent with current price ranges and observed a quiet tone in the market today.

Most CME grain prices were higher on Monday. The only grain market with a decrease was March wheat, which dropped $0.095 and closed at $5.90/bu. March soybeans jumped $0.0775 and settled at $11.96/bu. Additionally, March soymeal increased $4.30 and closed at $361.10/st, and March corn remained unchanged at $4.42/bu. A round of technical buying has helped boost soybean prices, partly driven by a better-than-expected set of export inspection data from the USDA. Wheat prices continue to face negative pressure due to competition overseas and a strengthening U.S. Dollar. However, corn prices remain steady following some light technical buying.
 
Weekly Soybean Crush

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