Export Sales

Grain Export Sales

🌽 Corn: 116,700 MT
🌱 Soybeans: 32,200 MT
🌾 Wheat: 296,400 MT

Analysis 

116,700 MT of corn and 32,200 MT of beans, both marketing year lows. Unknown cancellations of 256K in corn and 178K in beans are doing the work, as they have been for weeks now through the end of the old crop marketing year. South Korea, Colombia, and Mexico all bought corn in the 80 to 86K range but the net number could not dig out from under the reductions. Bean buying from Indonesia, Netherlands, and Egypt was in the 57 to 60K range but same story. Wheat was the one commodity that held together at 296K, led by the Philippines at 88K and Mexico at 69K.

The real demand signal is in the loadings and the new crop books. Corn exports ran 1,926K MT, up 26 percent on the week and 14 percent above the four week average. New crop corn added 1,027K MT and new crop beans 904K with China at 330K. Wheat keeps grinding, up 4 percent week over week and 6 percent above the four week average with the buyer base rotating through Southeast Asia.