Most CME grain prices had an upward trend on Thursday. The only grain with a decrease was March corn, which dropped $0.0025 and closed at $4.79/bu. March wheat increased $0.105 and settled at $6.15/bu. Additionally, January soybean meal jumped $1.50 and closed at $403.70/st, and January soybeans rose $0.065 to $13.14/bu. The anticipation for NOPA’s November 2023 crush report drove an increase in soybean prices, while wheat prices surged by double-digits due to the USDA’s recently released export sales data. The revived interest in the international market was another factor supporting wheat prices today.

Weekly Export Sales – Released December 14, 2023

Soybean export sales for the week ending December 7th amounted to 1,084 thousand metric tons (TMT) for the marketing year 2023/24. This represented a decrease of 320.4 TMT compared to last week but was above the prior four-week average of 2,028.6 TMT….