Most CME grain prices showed a downward trend on Wednesday. The only grain price that increased was May wheat, which rose $0.04 and closed at $5.47/bu. May soybeans decreased $0.065 and settled at $11.92/bu. Additionally, May soymeal dropped $0.80 and closed at $339.00/st, while May corn fell $0.0575 to $4.26/bu. Following a wave of technical selling, corn and soybean prices faced losses. The decline in corn prices was mostly due to large domestic stocks, while the drop in soybean prices was driven by the anticipation of record-breaking production in Brazil and an expected increase in U.S. acres this season. However, wheat prices managed to secure moderate gains as market players continue to evaluate the ongoing geopolitical tensions in the Black Sea region.

Weekly Ethanol Update

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