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Serving: United States

Export Sales: Corn continues to post solid results

Henadzi Pechan/iStock/Getty Images Truck unloading grain
Soybeans up noticeably from a week ago, with wheat stumbling slightly.

The latest set of export sales data from USDA, out Thursday morning and covering the week through April 22, held enough optimistic data to keep most grain prices in the green immediately following the report. Old crop corn sales improved 35% week-over-week, with old crop soybeans tracking well above the prior four-week average. Old crop wheat sales saw a 7% decline from a week ago, meantime.

Corn exports found 20.5 million bushels in old crop sales plus 21.8 million bushels in new crop sales for a total volume of 42.3 million bushels. That was near the middle of trade guesses, which ranged between 19.7 million and 63.0 million bushels. Cumulative totals for the 2020/21 marketing year are now at 1.626 billion bushels, pushing well ahead of last year’s pace of 891.0 million bushels.

Corn export shipments improved 19% week-over-week and 3% above the prior four-week average, to 75.4 million bushels. China was the No. 1 destination, with 22.1 million bushels. Japan, Mexico, South Korea and Colombia rounded out the top five.

Sorghum export sales gathered another 4.2 million bushels last week, falling 45% below the prior four-week average.  Increases to China were partially offset by decreases to unknown destinations. Cumulative totals for the 2020/21 marketing year are still close to tripling last year’s pace, with 210.5 million bushels.

Soybean exports found 10.7 million bushels in old crop sales and another 16.1 million bushels in new crop sales for a total tally of 26.8 million bushels. That surpassed the entire range of trade guesses, which came in between 3.7 million and 25.7 million bushels. Cumulative totals for the 2020/21 marketing year are maintaining a commanding lead over last year’s pace after reaching 2.060 billion bushels.

Soybean export shipments jumped 50% higher week-over-week but were still down 6% below the prior four-week average, with 12.5 million bushels. Egypt was the No. 1 destination, with 3.9 million bushels. Mexico, Japan, Saudi Arabia and Colombia filled out the top five.

Wheat exports saw old crop sales firm 73% above the prior four-week average, to 8.2 million bushels. New crop sales added another 8.7 million bushels, for a total of 16.9 million bushels. That was close to the middle of trade estimates, which ranged between 7.3 million and 27.6 million bushels. Cumulative totals for the 2020/21 marketing year have a slim lead over last year’s pace, with 804.6 million bushels.

Wheat export shipments stayed 14% ahead of the prior four-week average, with 20.2 million bushels. China was the No. 1 destination, with 4.8 million bushels. South Korea, Japan, Vietnam and Yemen rounded out the top five.

Click here for more highlights and insights from the latest USDA export report, which covers April 16 through April 22.

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