Wheat futures bucked the trend and tumbled as beneficial rains fell in dry areas of Western Europe and the U.S. harvest accelerated. Soft red winter wheat for July delivery ended down 10 1/4 cents, or 1.4%, at $7.33 3/4 a bushel.
July soymeal settled up 2.4% at $368 per short ton, while July soyoil slipped 0.2% to 57.93 cents a pound. July oats dropped 0.3% to $3.71 a bushel, and July ethanol gained 0.8% to $2.622 per gallon. July rice rose 0.2% to $14.77 per hundredweight.
At the Kansas City Board of Trade, hard red winter wheat for July delivery fell 1.7% to $8.74 1/2 a bushel. At the MGEX in Minneapolis, hard red spring wheat for July delivery sank 5.5% to $9.84 3/4 a bushel in a setback from a nearly three-year high. Prices pulled back after surging on concerns farmers wouldn't plant as much spring wheat as expected due to wet weather delaying field work.