CME grain prices were mixed on Wednesday April 17. May wheat declined $0.1275, closing at $5.37/bu, while May soybeans increased $0.045, settling at $11.49/bu. In addition, May soymeal rose $3.40 to $338.70/st. while May corn dropped $0.0075, reaching $4.30/bu. Following a round of technical selling, corn prices faced minor losses, while soybean prices finally moved into the green following a round of technical buying. However, gains were limited due to lingering concerns about the current pace of US exports. Wheat prices suffered double-digit losses as market players monitor rainfall forecasts in the US Corn Belt, with worries about flooding.

Weekly Ethanol Update

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