Chicago Mercantile Exchange grain prices fell on Thursday May 30. The July CME soybean futures contract decreased by 4.25 cents per bushel to settle at $12.09 per bu, and July soymeal dropped by $5.50 per short ton to $363.60 per ton.

Meanwhile, the July CME corn futures contract declined by 6.50 cents per bu to $4.48 per bu, and July wheat futures fell by 11.75 cents per bu to close at $6.81 per bu.

Corn prices remain under pressure due to seasonal planting progress, with US farmers matching the historical five-year average despite some earlier spring delays.

Soybean prices dipped alongside other commodities, though not as sharply as corn and wheat futures.

Wheat prices faced double-digit losses, driven by another wave of technical selling.

Weekly ethanol update

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