Chicago Mercantile Exchange grain prices fell on Tuesday August 13, with the November CME soybean futures contract decreasing by 23.50 cents per bushel to settle at $9.62 per bu and September soymeal dropping by $6.20 per short ton to $299.80 per short ton.

Meanwhile, the September CME corn futures contract declined by 5.50 cents per bu to $3.77 per bu, and September wheat futures fell by 8 cents per bu to $5.28 per bu.

US crop quality remains relatively good, and production forecasts are bullish. These actors triggered a wave of technical selling, resulting in moderate declines for corn and wheat, while soybeans faced double-digit losses.

Corn gluten meal prices declined in the Illinois, Iowa and Midwest barge and rail markets on Tuesday, while corn gluten feed prices dropped in the Iowa market. Market sources reported lower prices for both meal and feed, with corn prices remaining under pressure.

Crop progress