Chicago Wheat Commodity Markets, Prices & Futures
Use the chart below to check futures prices for soybean meal. Click the contract dates for more prices and trends. Cash price reflects the USDA Chicago terminal.
Check out our location-based Cash Grain Bids tool here!
Latest News From Chicago Wheat
DuWayne Bosse of Bolt Marketing says the bounce in the grain markets was mostly short covering heading into Friday’s WASDE Report. However, the market may not trade the report numbers long before it turns it attention back to weather.
Mark Knight with Farmer’s Keeper Financial says corn opened lower but was trying to recover early on short covering, but also following the strength in the wheat market. Soybeans fell further on tariff concerns.
Darin Newsom, Senior Market Analyst with Barchart, Inc. says grains continue to see non-commercial selling as the markets are becoming more comfortable about ample supplies. However, one factor not being talked about is demand is starting to fall.
Frayne Olson, NDSU Extension Crops Economist, says weather and improved crop ratings and benign weather are weighing on the corn and soybean markets. However, tariff uncertainty is also negative for prices.
Arlan Suderman, Chief Commodities Economist with StoneX, says funds sold aggressively and erased almost all of last weeks gains, as they came back from the holiday and saw no threat in the weather forecast.
Brad Kooima, Kooima Kooima Varilek, says cattle futuresare showing resilience early Monday due to better than expected cash trade. However, grains are seeing heavy selling pressure.
Mark Schultz, Northstar Commodity, says corn and soybeans saw follow through technical buying and short covering heading into a three day holiday but were also trading hopes for a positive trade announcement on China from President Trump.
In addition to major tax provisions, the bill enhances the current safety net, providing $66 billion in new spending for farm programs.
That percentage doesn’t tell the complete story, however. While farmers in the West and southeast Texas have endured weeks of dry conditions that’s not been the case in the central Corn Belt where growing conditions have been excellent.
Oliver Sloup, Blue Line Futures, says it was a combination of short covering and technical buying heading into a long holiday weekend but the announcement of a trade deal with Vietnam also provided a spark.