CHICAGO, May 17 (Reuters) - Chicago Board of Trade soybean futures closed higher for a sixth consecutive session on Tuesday, supported by stronger U.S. corn planting progress and weather forecasts predicted storm systems to hit the Upper Plains by the end of the week, grain analysts said. * CBOT July soybean futures settled up 21-1/2 cents at $16.78 a bushel. * CBOT July soyoil ended up 0.50 cent at 83.49 cents per lb, while CBOT July soymeal futures fell $1.80 to end at $411.80 per ton. * The U.S. Agriculture Department late Monday reported in its weekly crop progress report that corn farmers had planted 49% of their corn crop - at the high end of analyst expectations - which assuaged recent market concerns of increased soybean acres. * Soybean planting progress also remained sluggish in key parts of the U.S. Midwest, including North Dakota and Minnesota, according to USDA. * China will buy 40,000 tonnes of local frozen pork for its state reserves on May 20, according to a notice on the website of the reserves management center. * Hundreds of Indonesian small-holder farmers are staging protests across the world's fourth most populous country, demanding the government end a palm oil export ban that has slashed their income. (Reporting by P.J. Huffstutter; Editing by Lisa Shumaker)
Comments / 0