CME grain prices shifted significantly higher across the board on Thursday. December soymeal increased by $15.80 and closed at $392.90/st. November soybeans surged by $0.375 and settled at $12.90/bu. Additionally, December corn rose by $0.08, reaching $4.96/bu, and December wheat jumped by $0.155 to $5.71/bu. The October WASDE report from the USDA showed lower-than-expected yield and production estimates for corn and soybeans. As a result, a round of technical buying was witnessed, leading to a significant increase in prices. Soybeans saw the largest gains, experiencing a double-digit increase.

Weekly Ethanol Update

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