Chicago Mercantile Exchange (CME) grain prices mostly fell on Tuesday May 14. The July CME soymeal futures contract showed the only increase, rising by $6.80 per short ton to $373.30 per ton.
The July soybean futures contract decreased by 5 cents per bushel, settling at $12.14 per bu, and July wheat dropped by 14.50 cents per bu to close at $6.72 per bu.
Meanwhile, July corn fell by 5 cents per bu to $4.67 per bu.
After relatively strong quality ratings for wheat and higher corn production estimates coming out of Brazil, grain prices dropped into the red. Spillover weakness in other commodities, particularly soyoil, led to moderate losses in soybean prices.
Crop progress
The USDA’s weekly crop progress report for the week to Sunday May 12 reveals significant progress in US planting, despite an active weather pattern and persistent wet conditions across many regions.
…
09.06.2024
Signs of US economic downturn send ULSD prices to 3-year low
Shifting economic conditions are raising the possibility of a US recession. The US Bureau of Labor Statistics (BLS) released the jobs report on Friday September 6, which showed that...
09.06.2024
US fat market slides on pressure from soybean oil, energy complex
Used cooking oil (UCO), distillers’ corn oil (DCO) and yellow grease all traded lower on Friday September 6 due to pressure from the sinking heating oil and soybean oil...
09.06.2024
Sluggish trade volume keeps weekly animal protein prices flat
US animal protein prices were steady on Friday September 6, with market participants indicating light traded volumes for products.
Weekly wrap-up
Prices for US animal proteins were little...