Most grain prices on the Chicago Mercantile Exchange rose on Friday January 17. The March soybean futures contract jumped by 15 cents per bushel, settling at $10.34 per bu, while the March wheat contract increased by 1.25 cents per bu to $5.38 per bu.
Meanwhile, the March soybean meal contract surged by $2.80 per short ton to $297.20 per ton, and the March corn contract rose by 9.75 cents per bu to $4.84 per bu.
Distillers’ dried grain (DDG) prices increased in the Iowa market this week, but was steady in other regions. The market was described as mixed, with reports indicating steady to slightly higher prices.
Market sources said exporters are closely watching the market to determine if this was a short-term run.
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