Grain prices on the Chicago Mercantile Exchange were mixed on Wednesday June 12. The July soybean futures contract decreased by 0.75 cents per bushel, settling at $11.77 per bu, while July wheat dropped by 9.50 cents per bu, closing at $6.17 per bu.

Meanwhile, the July soybean meal contract increased by $0.90 per short ton to $360.20 per ton, and July corn rose by 4.75 cents per bu to $4.54 per bu.

June 2024 WASDE
The USDA’s June World Agricultural Supply and Demand Estimates (WASDE) report provided new information on US crops, turning the focus back to weather patterns over the next few weeks.

The US wheat outlook for 2024/25 showed larger supplies, unchanged domestic use, increased exports and lower stocks compared with the previous report. Global estimates for wheat supplies, consumption, trade and ending stocks were lower than in the May WASDE.

…