Most grain prices on the Chicago Mercantile Exchange fell on Wednesday July 10. The September wheat futures contract decreased by 10.5 cents per bushel, settling at $5.61 per bu, while September corn increased by 1.75 cents per bu, closing at $3.95 per bu.

Meanwhile, August soybean meal fell by $6.10 per short ton to $339.20 per ton, and August soybeans dropped by 18 cents per bu to $11.13 per bu.

Corn prices showed minor gains driven by some bargain buying, but wheat and soybean prices suffered double-digit losses. Large global stockpiles are back in focus ahead of the USDA’s World Agricultural Supply and Demand Estimates (WASDE) report on Friday July 12, and recent rains could potentially improve yields in some areas despite some recent adverse weather events in parts of the US Midwest.

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