USDA’s latest export sales report, out Thursday morning and covering the week through September 19, didn’t have a lot of bullish data to digest. Soybeans led the way with a relatively strong performance, moving slightly on the higher end of analyst estimates. In contrast, corn and wheat turned in dismal performances, falling below the entire set of trade guesses. Of particular note, wheat volume faded to a marketing-year low last week.

Corn export sales only came in at 19.7 million bushels last week. That was below the entire set of analyst estimates, which ranged between 23.6 million and 53.1 million bushels. Cumulative sales for the 2024/25 marketing year are still modestly ahead of last year’s pace so far after reaching 88.0 million bushels.

Corn export shipments fared better after reaching 43.5 million bushels last week. Mexico, Colombia, Japan, the Netherlands and Spain were the top five destinations.

Sorghum export sales faced minor net reductions after China pulled out of a modest sale of around 39,000 bushels. Cumulative sales are off to a sluggish start after only posting 2.5 million bushels of net sales since the start of September.

Soybean export sales moved to a respectable 57.9 million bushels last week. That was near the middle of analyst estimates, which ranged between 33.1 million and 75.3 million bushels. Cumulative sales for the 2024/25 marketing year are still trending slightly below last year’s pace so far, meantime.

Related:USDA exports – China buys soybeans, unknown buys corn, October 4, 2024

Soybean export shipments moved to 19.0 million bushels last week. China, the Netherlands, Mexico, Spain and Indonesia were the top five destinations.

Wheat exports only reached 6.2 million bushels in combined old and new crop sales last week, eroding 60% below the prior four-week average. That was also below the entire set of analyst estimates, which ranged between 7.3 million and 23.9 million bushels. Cumulative sales for the 2024/25 marketing year remain moderately above last year’s pace so far after reaching 275.4 million bushels.

Wheat export shipments climbed to a marketing-year high, in contrast, moving 19% above the prior four-week average to 26.1 million bushels. Ecuador, South Korea, Vietnam, the Philippines and Mexico were the top five destinations.

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