Chicago Mercantile Exchange grain prices mostly fell on Tuesday May 21. The July CME wheat futures contract showed the only increase, rising by 8.75 cents per bushel to close at $6.97 per bu.

The July soybean futures contract decreased by 11.75 cents per bu, settling at $12.36 per bu, and July soymeal dropped by $1.80 per short ton to $372.30 per ton.

Meanwhile, July corn fell by 2.5 cents per bu to $4.58 per bu.

Wheat stood strong, reaching its highest price since July due to frost damage in top exporter Russia and lower US crop ratings. But corn prices fell after a round of technical selling driven by seasonal planting progress, with soybean prices following suit, dropping by double-digits.

Corn gluten feed (CGF) prices showed a slight increase in the Midwest barge and rail market, while prices for corn gluten meal (CGM) remained relatively steady apart from an uptick in the Midwest rail market.

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