Market Update

CME grain pricing showed a downward trend today due to volatile overnight trading amid on-going difficulties in the Black Sea. Corn slid $0.0825, dropping to $5.37/st. However, soybeans rose by $0.0350, settling at $14.95/st., based on potential rainfall across the Midwest today against hot and dry forecasts next week. Soymeal prices dipped by $3.30 to $440.50/st, and wheat decreased by $0.0075 falling to $7.27/st.

Weekly Export Sales – Released July 20, 2023

Weekly soybean export sales for July 13th in the 2022/23 marketing year were 127 thousand metric tons (TMT), 46.5 TMT higher than last week’s total and lower than the prior four-week average of 224.2 TMT. There were 760.3 TMT sales for the 2023/24 crop season, increasing the total sales to 887.3 TMT. Combined sales jumped above last week’s values and were within range…