CME grain prices were mixed on Thursday. December wheat saw an increase of $0.1425, closing at $5.70/bu while January soybeans recorded a loss of $0.0425, settling at $13.42/bu. In addition, December soymeal dropped by $2.10 to $442.20/st, but December corn increased by $0.012 to $4.61/bu. Wheat and corn both experienced significant double-digit gains. The main factor contributing to this was the release of the USDA’s latest report, which revealed higher-than-anticipated export sales data. Despite some technical selling, soybeans only saw minor losses.

Weekly Export Sales – Released November 30, 2023

Soybean export sales for the week ending November 23rd, in the marketing year 2023/24, amounted to 1,895.3 thousand metric tons (TMT). This represented an increase of 934 TMT compared to last week and was above the prior four-week average of 1,726 TMT. There were no sales for the 2024/25 crop season, leaving…