Chicago Mercantile Exchange grain prices fell on Wednesday June 26, with the July CME soybean futures contract decreasing by 0.5 cents per bushel to settle at $11.62 per bu and July soymeal dropping by $4.40 per short ton to $360.90 per ton.

Meanwhile, the July CME corn futures contract declined by 5.50 cents per bu to $4.20 per bu, and July wheat futures fell by 0.5 cents per bu to close at $5.41 per bu.

Wheat middlings prices in the Minneapolis, Kansas City and Buffalo markets declined on Wednesday. Market participants noted a price drop due to the recent down time caused by the approaching Independence Day holiday on July 4 in the US.

Weekly ethanol update
Weekly average ethanol production in the US dropped to 1.04 million barrels per day in the week to Friday June 21, down by 14,000 bpd week on week and by 0.9% year on year, according to reports by the Energy Information Administration (EIA).

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