Chicago Mercantile Exchange grain prices rose across the board on Wednesday July 17.
The August soybean futures contract increased by 6.75 cents per bushel to settle at $10.97 per bu, and August soymeal futures jumped by $3.70 per short ton to $339.10 per ton.
Meanwhile, the September corn futures contract increased by 2.25 cents per bu to $3.98 per bu, and September wheat rose by 8.50 cents per bu to close at $5.39 per bu.
Wheat middlings prices in the Minneapolis, Kansas City and Buffalo markets declined on July 17. Market participants reported a notable price drop due to slow seasonal demand.
Weekly ethanol update
Weekly average ethanol production in the US jumped to 1.106 million barrels per day in the week to July 12, up by 52,000 bpd week on week and up by 3.4% year on year, according to reports by the Energy Information Administration (EIA) on Wednesday.
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