Global Grain Prices Decline Amid Weak Export Sales

The global grain market experienced mixed dynamics on August 13, with prices mostly declining. The Chicago corn market saw a notable drop, with September CBOT futures falling 1.97% to $176.38 per ton.

This decline was attributed to weaker US new-crop export sales, which totaled 924.5 thousand tons for the week ended August 6 - a three-week low and down 54.9% from the same period last season.

The Brazilian corn crop forecast also had an impact on prices, with CONAB increasing its estimate by 1.23 million tons to 142.96 million tons, including 111.03 million tons of second-crop corn.

In contrast, European grain markets moved in the opposite direction, with September wheat on MATIF gaining 0.3% on Thursday to €221.50 per ton ($255.28 per ton).