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Farm Progress America, December 6, 2023

Mike Pearson takes a look at the past marketing season and how American farmers were passed by buyers for cheaper grain but things might be changing.

December 6, 2023

Mike Pearson takes a look at the latest export market report from the USDA and why it may shed good news.

Each Thursday, the USDA releases the grain export sales data every Thursday.

This past week's report showed some promising trends for corn and soybeans.

The report out November 23 showed some great news for corn farmers. According to the data, 75.9 millions of bushels were sold-- that's 54 percent above the 4 week average. This exceeded the experts expectations. It included sales to Mexico, Columbia and Jamaica.

When it comes to soybeans, the report showed 69 million bushels were sold. That's 10 percent better than the 4 week average. However, experts warn they expect additional supplies to come to the market when Brazil begins their harvest in late January and February.

The report showed that 22.9 million bushels of soybeans were sold. This also was above the expectations set forth by the experts and exceeded the 4 week average. However, more wheat will be coming on the market from Russia and Ukraine.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.

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