Chicago Mercantile Exchange grain prices fell on Monday July 15, with the August CME soybean futures contract decreasing by 27 cents per bushel to settle at $10.78 per bu and August soymeal dropping by $5 per short ton to $333.80 per ton.
Meanwhile, the September CME corn futures contract declined by 11.50 cents per bu to $3.90 per bu, and September wheat futures fell by 18.25 cents per bu to close at $5.32 per bu.
Distillers’ dried grain (DDG) prices dropped in the Minnesota/Dakotas and Iowa markets on Monday, while holding steady in other regions. Market participants noted that the cash corn price remains an issue following the recent acreage report. The market seems caught in a persistent trend, with continued pressure on prices.
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