Chicago Mercantile Exchange (CME) grain prices shifted higher across the board on Friday May 3.

July soybeans increased by 16 cents per bushel to settle at $12.15 per bu and July soymeal jumped by $7.30 per short ton to $372.20 per ton.

Meanwhile, July corn increased by 0.5 cents per bu to $4.60 per bu, and July wheat rose by 18.25 cents per bu to close at $6.22 per bu.

Grain futures continue to move higher following the news of flooding in Brazil and ongoing rain in the US that will likely result in additional planting delays. Furthermore, persistent dry weather in Russia continues to impact the market, with very little rain expected for the next two weeks.

Weekly export sales — released May 2, 2024

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