Trades reported for wheat midds were lower in Buffalo, with participants indicating pressure in the near term. The central states are also experiencing the same pressure, stated contacts, but there were no reported trades for those regions for the day.
Most CME grain prices witnessed a downward trend on Thursday. The only grain that experienced an increase was December corn, which rose by $0.0050 and closed at $4.86/bu. November soybeans slumped by $0.1675 and settled at $13.59/bu. In addition, October soymeal dropped by $4.50, reaching $396.40/st, and December wheat decreased by $0.0925 to $5.99/bu. Soybeans saw a double-digit loss as harvest pressure ramps up in the U.S., along with strong competition from Brazil and concerns about Chinese demand before the peak U.S. soybean export season.
Weekly Ethanol Update
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