Most CME grain prices saw a downward trend on Thursday. The only grain price that increased was March wheat, which rose $0.015 and closed at $6.12/bu. March soybeans decreased $0.1725 and settled at $12.23/bu. Additionally, March soymeal dropped $5.10 and closed at $358.20/st, while March corn fell $0.005 to $4.51/bu. Following the release of another round of export sales data from the USDA and as market players continue to closely monitor South American weather trends, grain prices dropped. Soybean prices suffered a double-digit decline after a poor set of export sales data triggered a round of technical selling. Wheat prices increased due to demand optimism while corn prices faced a slight drop following the weakness in soybeans.
Weekly Export Sales – Released January 25, 2023
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