The CME market for grain and feed witnessed notable gains and losses throughout the week. The USDA’s recent reports, including the November WASDE and export sales, had a considerable impact on the grain markets. The recent hot and dry weather forecasted in South America also significantly affected market trends.

On the other hand, soybean meal experienced a significant surge, as spot contracts increased more than $110 per ton in just five weeks. Multiple factors have contributed to this rally, such as firm cash market supply and strong export demand following the negative impact on SBM supplies in Argentina due to drought. Recently, the expectation of yield-replenishing rains in Brazil, along with rain expected to move across the U.S. Plains, has started to ease weather concerns in the market.

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