CME grain pricing had a negative trend today. March corn decreased $0.065, falling to $4.17/bu. March wheat fell $0.185, dropping to $5.67/bu. March soybeans shifted down, with a decrease of $0.0825 and settling at $11.62/bu. Additionally, March soymeal prices were down $3.80 to $339.50/st. The long-awaited report from the USDA has been released, providing an early glimpse into its expectations for corn, soybeans, and wheat in the upcoming 2024 season. The publication of the report led to price drops for both wheat and soybeans following a round of technical selling. Additionally, corn suffered losses due to the USDA’s announcement on U.S. production to reach 15 billion bushels once again this year.

Weekly Export Sales – Released February 15, 2024

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