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CME PRICES

  

Apr 5, 2017

On March 31st at close of trading on the CME, the following rounded quotations for corn, soybeans and soybean meal were recorded. Values for corresponding months as quoted for the week of March 17th are indicated in parentheses:-

   

COMMODITY

Corn (cents per bushel)

May ’17   346    (353)

July ’17     372  (  360)  

Soybeans (cents per bushel)

May ’17   994    (997)

July ’17     955  (1,006)  

Soybean meal ($per ton)

May ’17   308     (327)   

July ’17     311   (  331)   

   

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

  • Corn:                     May quotation down by 7 cents                  (-2.0 percent)
  • Soybeans:            May quotation down by 3 cents.                 (-0.3 percent)
  • Soybean Meal:    May quotation down by $20/ton           (-5.8) 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 March 9th USDA-WASDE Report #563 for a review of price projections and quantities of commodities produced in the 2016 season.