Chicago Mercantile Exchange (CME) grain prices were mixed on Friday May 17. The July CME soybean futures contract rose by 11.75 cents per bushel to settle at $12.28 per bu.

The July soymeal futures contract increased by $1.10 per short ton to $368.80 per ton, but July corn fell by 4.50 cents per bu to $4.52 per bu.

Meanwhile, July wheat declined by 12 cents per bu to close at $6.51 per bu.

Despite some field delays, planting progress has generated seasonal downward pressure in recent sessions, pushing down corn prices. Wheat prices stumbled lower due to technical selling, partly influenced by expectations for a solid crop in Kansas, the largest wheat producer in the nation. However, soybean prices captured double-digit gains following challenges from recent flooding in Brazil’s second-largest production state, Rio Grande do Sul.

US daily wheat future prices year on year
Over the past year, the CME…