USDA’s latest set of grain export data, out Thursday morning and covering the week through January 26, held decidedly mixed data for traders to digest. Corn totals exceeded analyst expectations, while soybean volume was fairly pedestrian and wheat tumbled below the entire range of trade guesses.

Corn exports saw 69.1 million bushels in combined old and new crop sales. Old crop sales soared 75% higher week-over-week. Total sales were above the entire range of trade guesses, which came in between 23.6 million and 53.1 million bushels. Cumulative totals for the 2022/23 marketing year are still moderately below last year’s pace, however, with 496.5 million bushels.

Corn export shipments slid 14% below the prior four-week average, with 23.6 million bushels. Mexico, China, Japan, El Salvador and Panama were the top five destinations.

Sorghum export sales improved 70% from the prior four-week average, reaching 4.4 million bushels. That grain is bound for unknown destinations and China. Cumulative totals for the 2022/23 marketing year are still well below last year’s pace, with 11.6 million bushels.

Soybean exports reached 34.1 million bushels in combined old and new crop sales last week. Old crop sales were down 18% from the prior four-week average. The total tally was also on the lower end of analyst estimates, which ranged between 25.7 million and 58.8 million bushels. Cumulative totals for the 2022/23 marketing year are slightly below last year’s pace, with 1.308 billion bushels.

Soybean export shipments were 11% above the prior four-week average, with 72.0 million bushels. China, Japan, Taiwan, Indonesia and Vietnam were the top five destinations.

Wheat exports were disappointing after only posting 6.2 million bushels in old and new crop sales last week. That was far below the entire range of trade guesses, which were between 11.0 million and 32.2 million bushels. Cumulative totals for the 2022/23 marketing year are slightly below last year’s pace, with 438.2 million bushels.

Wheat export shipments were more robust, moving 88% higher week-over-week with 18.2 million bushels. Japan, Mexico, Thailand, Iraq and Chile were the top five destinations.

Click here for more highlights from the latest UDSA export sales report.