Chicago Mercantile Exchange (CME) grain prices shifted higher across the board on Monday May 20.

The July soybean futures contract increased by 20 cents per bushel to settle at $12.48 per bu, and July soymeal jumped by $5.30 per short ton to $374.10 per ton.

Meanwhile, the July corn futures contract increased by 8 cents per bu to $4.60 per bu, and July wheat rose by 37.50 cents per bu to close at $6.88 per bu.

Corn prices pushed higher after a wave of technical buying, driven by this spring’s slowest planting pace since 2019.

Frost in Russia and Ukraine also sparked a significant wave of technical buying, resulting in the best single-day performance for winter wheat since last July.

Soybean prices joined other grains in the rally, capturing double-digit gains.

Weekly soybean crush
The crush margin in Central Illinois increased in the week to Friday May 17, according to the…