Chicago Mercantile Exchange grain prices fell on Friday October 4, with the November CME soybean futures contract decreasing by 8.25 cents per bushel to settle at $10.37 per bu and December soymeal dropping by $2.00 per short ton to $330.50 per short ton.
Meanwhile, the December CME corn futures contract declined by 3.50 cents per bu to $4.24 per bu, and December wheat futures fell by 13.75 cents per bu to $5.89 per bu.
Corn prices dropped as favorable harvest weather led to a wave of technical selling. Soybean prices captured moderate losses, also influenced by technical selling and seasonal harvest pressure. Meanwhile, wheat prices suffered double-digit losses following large domestic and global stocks.
Distillers’ dried grain (DDG) prices increased in the Illinois, Iowa, and Minnesota/Dakotas markets this week while holding steady in other regions. Market participants said there is an uptick in prices but expected it to be short lived.
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