USDA Export Sales

USDA Export Sales

🌽 Corn: 1,122,442 MT | 24.8% of USDA Est
🌱 Soybeans: 574,878 MT | 51.7% of USDA Est
🌾 Wheat: 319,901 MT | 49.5% of USDA Est

Analysis 

Corn topped a million tonnes at 1.122 million, with Mexico at 544K, Japan at 220K and South Korea at 200K. Corn pace sits at 24.8 percent of the USDA estimate against a 33.4 percent five year average, 8.6 points behind. Soybeans came in at 575K led by China at 126K, Egypt at 111K and Bangladesh at 110K, with the bean pace at 51.7 versus 43.4. Wheat added 320K, mostly to Taiwan at 106K and Sri Lanka at 68K.

Corn jumped from 769K the week before, but the pace gap still widened from 8.2 points to 8.6. Beans edged up from 549K while their lead over the five year average narrowed from 9.3 points to 8.3. Wheat slipped from 452K and now trails by 6.3 points at 49.5 versus 55.8.