CME grain prices were mixed on Thursday. December wheat saw an increase of $0.11, closing at $5.79/bu, while November soybeans recorded a decrease of $0.0875, settling at $12.79/bu. In addition, December soymeal rose by $0.30 to $429.50/st. while December corn dropped by $0.0075, reaching $4.79/bu. Following the release of the weekly export sales by USDA, grain prices experienced fluctuations. Beneficial rains in South America and harvest progress in the U.S. continue to be the primary drivers. Although wheat managed to recover from multiweek lows, there are still lingering concerns regarding black sea export logistics that are causing uncertainty.

Weekly Export Sales – Released October 26, 2023

The soybean export sales for the week ending October 19th, in the marketing year 2023/24, amounted to 1,378.2 thousand metric tons (TMT). This represents an increase of 6.3 TMT compared to last week and exceeds…