The newest set of grain export sales data from USDA, out Thursday morning and covering the week through February 8, held mixed but solid results for traders to digest. Corn volume once again led the way, making modest week-over-week improvements and staying toward the higher end of analyst estimates. Soybeans and wheat were relatively disappointing, in contrast, after moving toward the lower end of trade guesses.

Corn exports reached 51.5 million bushels in combined old and new crop sales last week, which was 13% better than the prior four-week average. It was also toward the higher end of analyst estimates, which ranged between 31.5 million and 61.0 million bushels. Cumulative totals for the 2023/24 marketing year remain moderately ahead of last year’s pace so far after reaching 706.9 million bushels.

Corn export shipments were steady versus the prior four-week average, with 35.6 million bushels. Mexico, Japan, Colombia, Saudia Arabia and Taiwan were the top five destinations.

Sorghum export sales eroded to a marketing-year low after seeing net reductions of around 2.4 million bushels. Export shipments fared much better, after rising 43% above the prior four-week average to 7.8 million bushels. Cumulative export sales for the 2023/24 marketing year are still substantially higher than last year’s pace, with 115.0 million bushels.

Soybean exports found 13.9 million bushels in combined old and new crop sales last week. Old crop sales faded 23% below the prior four-week average. Total sales were on the very low end of analyst estimates, which ranged between 11.0 million and 31.2 million bushels. Cumulative sales are still trending moderately below last year’s pace so far after reaching 1.117 billion bushels.

Soybean export shipments were 8% better than the prior four-week average, with 53.4 million bushels. China, Japan, Spain, the Netherlands and Mexico were the top five destinations.

Wheat exports found 14.6 million bushels in total sales last week. Old crop sales were down 8% week-over-week and spilled 25% below the prior four-week average. Total sales were toward the lower end of trade guesses, which ranged between 11.0 million and 22.0 million bushels. Cumulative totals for the 2023/24 marketing year are slightly lower than last year’s pace so far, with 422.5 million bushels.

Wheat export shipments improved 41% above the prior four-week average, with 14.9 million bushels. Mexico, Japan, South Korea, China and Vietnam were the top five destinations.

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