WASDE Shows Higher Ending Stocks for Corn, Soybean, and Wheat

WASDE Shows Higher Ending Stocks for Corn, Soybean, and Wheat

Most CME grain prices were lower on Thursday. The only grain that increased was March soybeans, which jumped $0.045 and closed at $11.93/bu. March wheat decreased $0.135 and settled at $5.88/bu. Additionally, March soymeal dropped $4.10 and closed at $347.10/st, and March corn fell by $0.01 to $4.33/bu. The release of USDA’s World Agricultural Supply and Demand Estimates (WASDE) report caused some volatility in the market. Soybean prices increased, while wheat prices faced double-digit losses following ongoing worries about U.S. export competitiveness and large global supplies. Additionally, corn prices showed a minor decrease due to some light technical selling.

February 2024 WASDE

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