Market Update

CME grain pricing was positive across the board. Corn increased by $0.1725, climbing to $4.93/st, due to a wave of bargain buying after falling to multiyear lows on Wednesday. Meanwhile, soybeans increased $0.4050 to $14.84/st. due to speculation regarding this season’s true crop production. Soymeal was up $11.40 to $422.30/st and wheat increased by $0.0700 to $6.39/st.

Weekly Export Sales – Released July 13, 2023

Weekly soybean export sales for July 6th in the 2022/23 marketing year were 80.6 thousand metric tons (TMT), 107.2 TMT below last week’s total and lower than the prior four-week average of 337.8 TMT. There were 209.2 TMT for the 2023/24 crop season, increasing total sales to 289.7 TMT. Combined sales were 63.0 percent under last week and closer to the high end of analyst expectations from 0 to 300…