The Chicago Mercantile Exchange (CME) Group reset price limits for grain and oilseed futures, effective Oct. 31.
“This is the second of the two price limit resets in 2024 that is stipulated by the variable price limits mechanism pursuant to each product’s respective Rulebook Chapter,” CME said in a press release.
Price limits will remain in effect until May 2025. Under the new limits, corn futures will stay at 30 cents per bushel, soybean contract limits will drop to 70 cents per bushel from 85 cents and soybean meal contract limits will drop to $20 per ton from $25. Chicago and Kansas City wheat futures price limits will stay at 40 cents per bushel.
