Most CME grain prices had an upward trend on Thursday. The only grain market with a decrease was March soybeans, which dropped $0.0575 and closed at $11.28/bu. March wheat increased $0.065 and settled at $5.77/bu. Additionally, March soybean meal jumped $2.00 and closed at $333.30/st. and March corn rose $0.025 to $4.15/bu. Following a strong set of export sales data released by the USDA, corn and wheat prices increased, fueling another wave of technical buying. However, soybean prices tumbled to a new three-year low, driven down by favorable weather conditions in South America.
Weekly Export Sales – Released February 29, 2024
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