Chicago Mercantile Exchange grain prices mostly rose on Monday July 1. The August soybean futures contract increased by 12.5 cents per bushel, settling at $11.46 per bu, while September corn futures contract dropped by 0.5 cents per bu, closing at $4.07 per bu.
Meanwhile, August soybean meal jumped by $3.00 per short ton to $349.00 per ton, and September wheat rose by 16.75 cents per bu to $5.90 per bu.
Distillers’ dried grain (DDG) prices dropped in the Iowa market on Monday, while prices in other regions were steady. One source mentioned that the market feels somewhat heavy and backed up. Additionally, the cash corn price is adding further pressure on DDG prices, combined with the recent hot weather.
Weekly soybean crush
The crush margin in Central Illinois increased in the week to Friday June 28, according to the National Weekly Grain Co-Products Report released by the USDA on Monday.
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