Most grain prices on the Chicago Mercantile Exchange rose on Tuesday July 2. The August soybean futures contract increased by 4.25 cents per bushel, settling at $11.50 per bu, while September wheat dropped by 9.25 cents per bu, closing at $5.81 per bu.
Meanwhile, August soybean meal jumped by $1.30 per short ton to $350.30 per ton, and September corn rose by 1 cent per bu to $4.08 per bu.
Distillers’ dried grain (DDG) prices declined in most regions on Tuesday, while the Iowa market was steady. Market participants continued to describe the market as “heavy,” with recent hot weather putting downward pressure on prices.
Corn gluten feed (CGF) prices in the Illinois and Iowa truck markets fell on Tuesday. Market sources reported minimal trading due to the approaching Independence Day holiday on Thursday July 4 in the US.
May soybean crush shifts above monthly, yearly levels
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