Most CME grain prices witnessed a downward trend on Thursday. The only grain that experienced an increase was December soymeal, which rose by $0.10 and closed at $449.90/st. January soybeans shifted down by $0.2225 to $13.43/bu. Furthermore, December corn dropped by $0.08 to $4.68/bu, and December wheat fell by $0.115 to $5.80/bu.
The grain market witnessed a significant drop in prices today following the release of the WASDE report, which contained bearish USDA data that sparked a wave of technical selling. Corn prices experienced a slight decline due to the latest yield estimates that added nearly two bushels per acre. On the other hand, soybeans suffered a double-digit decrease because of higher production estimates for this year’s crop.
November 2023 WASDE
Click here to learn more and sign up for a free 7-day trial!
09.18.2024
Waste plastic can improve SAF without increasing pollution, study says
Waste plastic can be used to improve sustainable aviation fuel (SAF), according to research announced on Monday September 16 by the Prairie Research Institute at the University of Illinois...
09.18.2024
US animal fats, oils prices mixed as DCO production hits 2-month low
US animal fats and oils markets saw mixed price movements on Wednesday September 18, with Gulf Coast markets firming as distillers’ corn oil (DCO) production levels dropped to a...
09.18.2024
US animal proteins prices steady; potential port strike could affect stocks, prices, sources say
US animal proteins markets were steady on Wednesday September 18.
Bloodmeal prices were reported to be flat day on day, though market sources continue to indicate underlying pressure, saying that...