USDA Export Sales

USDA Export Sales

🌽 Corn: 362,900 MT (▲9% wk | ▼25% 4wk avg)
🌱 Soybeans: 302,300 MT (▲ wk | ▲ 4wk avg)
🌾 Wheat: 285,200 MT (▼2% wk | unchanged 4wk avg)

Analysis 

302,300 MT of current year bean sales, up from 56,400 last week and the best number in three weeks. Egypt led at 63K with Japan at 59K, Mexico at 53K, and Indonesia and Algeria each at 50K. New crop bookings added another 1,333K MT with China at 519K and Mexico at 309K. Corn came in at 362,900, up 9 percent on the week, with Colombia at 174K and Mexico at 130K. New crop corn booked 1,062K, led by Mexico at 376K.

New crop soybean outstanding is now 7.47 million MT, up nearly 3 million in three weeks. Corn new crop outstanding jumped to 8.62 million. On the wheat side, Indonesia at 70K, Philippines at 60K, and Bangladesh at 58K are all Southeast and South Asian buyers stepping in together. Wheat is running right at its four week average, and the buyer base keeps rotating without thinning out.