Most grain prices on the Chicago Mercantile Exchange rose on Tuesday June 18. The July soybean futures contract increased by 16.25 cents per bushel, settling at $11.74 per bu, while July wheat dropped by 9.50 cents per bu, closing at $5.82 per bu.

Meanwhile, July soybean meal jumped by $4.30 per short ton to $364.60 per ton, and July corn rose by 6.25 cents per bu to $4.50 per bu.

Following a round of technical buying spurred by hot weather forecasts and declining quality ratings, corn and soybean prices captured moderate gains.

But wheat prices did not follow suit, with seasonal harvest progress leading to another round of technical selling.

Corn gluten feed (CGF) and corn gluten meal (CGM) prices remained consistent with last week’s values. Market participants noted that the market is very quiet and seems to be stuck in neutral for now.

Crop progress

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