US crop conditions improve; corn dough stage underway

US crop conditions improve; corn dough stage underway

Chicago Mercantile Exchange grain prices were mixed on Tuesday July 9. The August CME soybean futures contract fell by 17.75 cents per bushel to settle at $11.31 per bu.

The August soymeal futures contract decreased by $4.70 per short ton to $345.30 per ton, but September corn rose by 0.75 cents per bu to $3.94 per bu.

Meanwhile, September wheat increased by 1.50 cents per bu to close at $5.72 per bu.

Widespread rain moving across the Midwest negatively impacted soybean prices, causing another double-digit setback. But corn and wheat prices showed modest gains driven by some bargain buying.

Corn gluten meal (CGM) and corn gluten feed (CGF) prices remained steady with last week’s values. Market participants noted that trading is relatively slow, and values are steady despite the current pressure on corn prices.

Crop progress
US crop conditions improved for corn, soybeans and spring…

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