USDA’s latest set of export sales data, out Thursday morning and covering the week through October 12, showed mostly bullish numbers for traders to digest, which was reflective of a series of recent large flash sales reported to the agency in recent sessions. Corn, soybeans and wheat all landed toward the higher end of trade estimates. Soybeans and wheat, in particular, were noticeably higher than their prior four-week averages.

Corn exports reached 35.1 million bushels in combined old and new crop sales last week. Old crop sales eased 15% below the prior four-week average. That was also slightly toward the higher end of analyst estimates, which ranged between 19.7 million and 48.2 million bushels. Cumulative totals for the 2023/24 marketing year are trending moderately above last year’s pace so far, with 157.5 million bushels.

Corn export shipments faded 25% below the prior four-week average, spilling to a marketing-year low of 20.3 million bushels. Mexico, Colombia, Japan, El Salvador and Taiwan were the top five destinations.

Sorghum exports tracked 20% below the prior four-week average, with 2.4 million bushels, after sales to China more than offset reductions to unknown destinations and Mexico. Cumulative totals for the 2023/24 marketing year are substantially higher versus last year’s pace so far, with 14.7 million bushels.

Soybean exports notched 50.4 million bushels in old crop sales, which jumped 92% above the prior four-week average. That was near the middle of trade estimates, which ranged between 34.9 million and 64.3 million bushels. Cumulative totals for the 2023/24 marketing year remain moderately ahead of last year’s pace for now, with 201.6 million bushels.

Soybean export shipments were also noticeably above the prior four-week average, with 73.1 million bushels. China, Mexico, Spain, Japan and Indonesia were the top five destinations.

Wheat exports found 24.4 million bushels in combined old and new crop sales last week. Old crop sales were 42% better than the prior four-week average. Total sales were on the higher end of analyst estimates, which ranged between 12.9 million and 32.2 million bushels. Cumulative sales for the 2023/24 marketing year are trending moderately below last year’s pace so far, with 242.0 million bushels.

Wheat export shipments eased 4% below the prior four-week average to 14.1 million bushels. Japan, Nigeria, South Korea, Mexico and Algeria were the top five destinations.

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