Trading activity for wheat midds was active today as sources reported trades on Minneapolis and Kansas City. Prices are seen shifting down as there is significant pressure on the market. Market participants noted that despite good run times, the demand is not keeping up with it, and some areas are still struggling to move the product.
CME grain pricing was mixed today. September corn decreased by $0.0400, falling to $4.72/bu. September wheat declined by $0.0850, dropping to $6.04/bu. September soybeans moved up, with an increase of $0.0625 and settling at $13.65/bu. Additionally, September soymeal prices increased by $9.70, surging to $422.70/st. The variation in values resulted from a better-than-expected round of export sales data from USDA, combined with the persistent hot and dry weather conditions affecting the central U.S.
Weekly Export Sales – Released August 24, 2023
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