CME grain prices witnessed an upward trend across the board on Thursday. December soymeal increased by $5.20 and closed at $377.20/st. November soybeans shifted up by $0.0775 and settled at $12.80/bu. Additionally, December corn rose by $0.115, reaching $4.97/bu, and December wheat jumped by $0.1825 to $5.78/bu. After the USDA reported strong export sales, soybeans and corn experienced significant increases. Meanwhile, wheat stood out amongst all grains as it surged due to lingering concerns that El Niño might cause substantial drought conditions in the Southern Hemisphere.

Weekly Export Sales – Released October 5, 2023

The weekly soybean export sales for September 28th in the marketing year 2023/24 amounted to 808.5 thousand metric tons (TMT). This represents an increase of 136.3 TMT compared to the total last week and exceeds the previous four-week average of 491.4 TMT. Export sales for the crop season 2024/25…