Reports suggest that the price range for wheat midds has increased in Minneapolis, Kansas City, and Buffalo. Market participants expressed that trading activity has slightly picked up as the holidays approach, also noting that the primary focus is logistics this week.
CME grain pricing had a negative trend today. March corn decreased $0.03, falling to $4.69/bu. March wheat fell $0.1275, dropping to $6.1/bu. January soybeans shifted down, with a decrease of $0.0425 and settling at $13.08/bu. Additionally, January soymeal prices were down $3.30 to $399.90/st. There was a widespread sell-off in the grain market caused by multiple factors such as recent rains in the U.S. Plains, strong overseas competition, and positive forecasts in South America. While soybean prices decreased alongside other grains, market players anticipate a notable increase in export sales from the USDA tomorrow.
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