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CME Prices

  

Mar 7, 2017

    

On March 3rd close of trading on the CME, yielded the following rounded quotations for corn, soybeans and soybean meal. Values for corresponding months as quoted for the previous week are indicated in parentheses:-

COMMODITY

Corn (cents per bushel)

March ’17   378    (364)

May ’17     386  (   371)  

Soybeans (cents per bushel)

March ’17  1,025  (1,014)

May ’17  1,037  (1,025)  

Soybean meal ($per ton)

March ’17   328     (332)   

May ’17     333   (  336)   


Changes in the price of soybeans and soybean meal this week were:-

  • Corn:                     March quotation up by 14 cents                        (+3.8 percent)
  • Soybeans:            March quotation up by 11 cents.                       (+1.1 percent)
  • Soybean Meal:    March quotation down by $4/ton                     (-1.2) percent)

For each 10 cent per bushel change in corn :-

  • The cost of egg production would change by 0.45 cent per dozen
  • The cost of broiler production would change by 0.25 cent per pound live weight

For each $10 per ton change in the price of soybean meal:-

  • The cost of egg production would change by 0.40 cent per dozen
  • The cost of broiler production would change by 0.25 cent per pound live weight

See posting on the February 9th USDA-WASDE Report #562 for a review of price projections and quantities of commodities produced in the 2016 season.