CME grain prices were mixed on Wednesday. December wheat saw an increase of $0.1225, closing at $5.56/bu, and January soybeans recorded a gain of $0.005, settling at $13.47/bu. In addition, December soymeal dropped by $6.00 to $444.30/st, and December corn decreased by $0.0175 to $4.49/bu. Technical buying was prompted by Russia’s announcement of a durum export ban in the first half of 2024, leading to double-digit gains for wheat. Meanwhile, corn experienced a decline, as U.S. export demand weakened after recent weeks of strength.

Weekly Ethanol Update

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