Most grain prices on the Chicago Mercantile Exchange fell on Monday August 12. The September wheat futures contract decreased by 5.75 cents per bushel to settle at $5.36 per bu, while September corn increased by 6.50 cents per bu to close at $3.83 per bu.
Meanwhile, September soybean meal fell by $5.70 per short ton to $306.00 per ton, and November soybeans dropped by 16.50 cents per bu to $9.86 per bu.
Following the USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) report, grain prices were on a downward slope, following large domestic stocks and bullish production outlook. Corn prices showed modest gains driven by strong export demand. Soybean and wheat prices faced moderate losses following a round of technical selling.
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