Most grain prices on the Chicago Mercantile Exchange fell on Tuesday July 23. The September wheat futures contract decreased by 5.25 cents per bushel, settling at $5.42 per bu, while September corn increased by 2.25 cents per bu, closing at $4.02 per bu.

Meanwhile, August soybean meal fell by $0.90 per short ton to $342.70 per ton, and August soybeans dropped by 0.25 cents per bu to $11.17 per bu.

Corn gluten meal (CGM) and corn gluten feed (CGF) prices were steady in all regions on Tuesday. Market participants said there was a lack of activity in the market to start off the week as values remained relatively stable.

Crop progress
US crop conditions were in line with last week’s values for spring wheat and soybeans, but corn deteriorated in the week to Sunday July 21, according to the USDA’s weekly crop progress report released on Monday July 22.

Corn

…