Market Update

Instability lingers for the CME agriculture market for Thursday with sanctions ramping up, looming over the global flow of commodities. Sanctions are expected to intensify the risk of shortages and perpetrate unsettled tones on daily trade movement.

May futures saw wheat up $0.2875, reversing course from yesterday to $10.98. Corn futures were higher by $0.2450/bu to $7.54, soybeans increased $0.1925/bu to $16.68, while soybean meal dropped $3.90/st to $474.10.

Weekly Export Sales March 10, 2022

Weekly soybean export sales for the 2021/22 marketing year of 1,253.3 thousand metric tons (TMT) were 43.1 percent below last week’s sales and 10.7 percent under the prior four-week average of 1,402.8 TMT. There were 477 TMT in sales recorded for the 2022/23 crop season, lifting total sales to 1,730.2 TMT. Combined crop year sales were 44.2 percent lower than last week and were within the analyst estimates ranging from 1,100 to 2,500 TMT. 2021/22…