Chicago Mercantile Exchange grain prices fell on Friday June 28, with the July CME soybean futures contract decreasing by 1.75 cents per bushel to settle at $11.50 per bu and July soymeal dropping by $0.60 per short ton to $360.50 per ton.

Meanwhile, the July CME corn futures contract declined by 16.50 cents per bu to $3.97 per bu, and July wheat futures fell by 6.25 cents per bu to close at $5.53 per bu.

Grain markets were on a downtrend on Friday after the USDA’s highly anticipated updated acreage and stock reports were released. Corn and wheat prices fell the most following the release, while soybeans also took a hit, largely due to the downward pressure from corn and other commodities.

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