Most CME grain prices were on a downward trend on Thursday. The only grain that showed an increase was May soymeal, which rose $1.00 and closed at $337.40/st. May soybeans shifted down $0.015 to $11.95/bu. Furthermore, May corn dropped $0.075 to $4.33/bu, and May wheat fell $0.12 to $5.32/bu. Corn prices faced a minor setback while soybean prices followed other grains lower to close out today’s session. However, wheat suffered double-digit losses following underwhelming export sales figures reported by the USDA as China keeps cancelling orders from the U.S. and Australia.
Weekly Export Sales – Released March 14, 2024
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