CME grain pricing showed a downward trend today despite concerns over the sweltering heat throughout the Heartland and concerns about Ukrainian grain supplies. Corn slid $0.0700, dropping to $5.33/bu and wheat decreased by $0.0725 falling to $7.12/bu. After experiencing minor growth overnight, soybeans fell due to a round of technical selling decreasing by $0.1425, settling at $15.32/bu. Furthermore, soymeal prices dipped by $0.20 to $464.50/st.

Weekly Export Sales – Released July 27, 2023

Weekly soybean export sales for July 20th in the 2022/23 marketing year were 198.5 thousand metric tons (TMT), 136.8 TMT higher than last week’s total and lower than the previous four-week average of 115 TMT. There were 544.6 TMT sales for the 2023/24 crop season, increasing the total sales to 743.1 TMT. Combined sales fell below last week’s values and were within the range of analyst expectations from 50 to 400 TMT….