Commodity Markets Plummet on July 31 Amidst Sizable Price Drops
Closing markets for Friday, July 31 showed significant fluctuations across various commodities. On the Chicago Board of Trade, corn futures took a hit, with September's price down 5 cents at $4.40 and December's price down 4 cents at $4.63. Soybean futures also declined, with September down 1 cent at $11.71 and November down half a cent at $11.88.
Wheat futures experienced a more substantial drop, with September down 25 cents at $6.38 and December down 25 cents at $6.56. Live cattle futures saw a decline in October, dropping 45 cents to $227.00, while remaining steady at $226.72 in December. Feeder cattle futures, however, increased in both September and October.
The prices for the upcoming crop year were also reported by The Andersons and Great Lakes Grain. According to their data, 2026 Crop Corn prices are down 4 cents at $6.04/BU and 2 cents at $5.96/BU respectively. 2027 Crop Soybeans saw a decline of 1 cent at $15.63/BU.
The Ontario Pork Reports indicated that the U-S CME price for dressed weight was down $0.08 from the previous day, standing at $98.40 per hundredweight. The 100% formula price also decreased by $1.41, reaching $249.77 per hundred kilograms.