Chicago Mercantile Exchange grain prices fell on Friday June 7, with the July CME soybean futures contract decreasing by 20.75 cents per bushel to settle at $11.79 per bu, and July soymeal dropping by $2.10 per short ton to $360.70 per ton.

Meanwhile, the July CME corn futures contract declined by 3.25 cent per bu to $4.48 per bu, and July wheat futures fell by 12 cents per bu to close at $6.27 per bu.

Corn and soybean prices faced losses due to favorable weather forecasts and the current trend in China’s imports, leading to a wave of technical selling.

Wheat prices dropped, among other commodities, amid worries about how Turkey’s incoming wheat import ban could increase competition among sellers in other areas.

Distillers’ dried grain (DDG) prices dropped in the Iowa market this week, while prices in other regions were steady.

…