Most CME grain prices were lower on Thursday. The only grain that increased was March soybeans, which jumped $0.045 and closed at $11.93/bu. March wheat decreased $0.135 and settled at $5.88/bu. Additionally, March soymeal dropped $4.10 and closed at $347.10/st, and March corn fell by $0.01 to $4.33/bu. The release of USDA’s World Agricultural Supply and Demand Estimates (WASDE) report caused some volatility in the market. Soybean prices increased, while wheat prices faced double-digit losses following ongoing worries about U.S. export competitiveness and large global supplies. Additionally, corn prices showed a minor decrease due to some light technical selling.

February 2024 WASDE

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