Most grain prices on the Chicago Mercantile Exchange fell on Friday November 1. The January soybean futures contract decreased by 0.75 cents per bu to settle at $9.93 per bu, while December corn increased by 3.75 cents per bu to close at $4.14 per bu.
Meanwhile, December soybean meal fell by $4.20 per short ton to $295.30 per ton, and December wheat dropped by 2.50 cents per bu to $5.68 per bu.
Wheat futures fell as drought relief is anticipated in the US Plains, with additional rainfall expected in the coming days. Corn futures were moderately up, driven by technical buying, while soybean prices showed minor losses due to technical selling.
Distillers’ dried grain (DDG) prices held steady across all regions this week. Market participants said that corn prices provided some support, but overall, they described the week up to Friday as quiet, with prices in line with Fastmarkets’ current assessed ranges.
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