USDA Export Sales

USDA Export Sales

🌽 Corn: 1,527,122 MT | 26.7% of USDA Est
🌱 Soybeans: 2,841,199 MT | 58.0% of USDA Est
🌾 Wheat: 239,627 MT | 50.6% of USDA Est

Analysis 

Soybeans came in at 2.841 million tonnes, with China taking 2.179 million of it, Mexico at 232K and the Netherlands at 85K. That puts the bean pace at 58.0 percent of the USDA estimate against a 47.0 percent five year average. Corn sold 1.527 million, led by Mexico at 478K, Japan at 285K and the United Kingdom at 142K, with another 307K to unknown destinations, and the corn pace sits at 26.7 percent versus 36.1. Wheat added 240K, led by Mexico at 98K, for a pace of 50.6 percent versus 57.7.

Beans nearly quintupled from 575K the week before, and their lead over the five year average widened from 8.3 points to 11.0. Corn rose from 1.122 million, but the pace gap still widened from 8.6 points to 9.4. Wheat slipped from 320K and now trails by 7.1 points, up from 6.3.