Soybean Crush Report Shows Ongoing Slump in Soybean Meal Price

Soybean Crush Report Shows Ongoing Slump in Soybean Meal Price

Sources reported trades on corn gluten products today with prices remaining within the current range. However, market participants have observed a lack of activity in the market recently, with very few trades occurring at steady price levels.

CME grain prices continue to be mixed as Tuesday comes to an end. December wheat saw a decline of $0.1425, closing at $5.58/bu, and November soybeans recorded an increase of $0.0725, settling at $12.71/bu. In addition, December soymeal rose by $2.90 to $377.50/st. while December corn dropped by $0.0275, reaching $4.85/bu. Due to harvest pressure, corn prices closed in the red today. However, soybeans managed to surge as the data from the grain export inspections exceeded the expectations of analysts. On the other hand, the USDA recently published their latest crop progress report, and market participants are paying close attention to the generally favorable weather conditions observed over the past week.

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