CME grain prices were mixed on Thursday. December wheat saw an increase of $0.0375, closing at $5.65/bu, and January soybeans recorded a rise of $0.1325, settling at $13.28/bu. In addition, December soymeal dropped by $4.10 to $426.30/st. and December corn decreased by $0.05, reaching $4.70/bu. Following the recent release of export sales data by the USDA, combined with concerns over possible disruptions in the supply chain, corn prices continue to drop. However, soybean prices have surged by double-digits due to the dry weather conditions experienced in South America.

Weekly Export Sales – Released November 2, 2023

The soybean export sales for the week ending October 26th, in marketing year 2023/24, amounted to 1,010 thousand metric tons (TMT). This represents a decrease of 368.2 TMT compared to last week and falls below the prior four-week average of 1,153.8 TMT. Export sales for crop season 2024/25…