Most CME grain prices showed a downward trend on Thursday. The only grain price that increased was March wheat, which rose $0.0625 and closed at $6.01/bu. March soybeans decreased $0.19 and settled at $12.03/bu. Additionally, March soymeal dropped $6.60 and closed at $361.70/st, while March corn fell $0.01 to $4.47/bu. The USDA’s latest soybean export sales fell well below analysts’ expectations, sparking a wave of technical selling that resulted in double-digit loses. Additionally, corn prices faced minor loses due to spillover weakness from the decline in soybeans.

Weekly Export Sales – Released February 1, 2024

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