
USDA’s latest grain export sales report, out Friday morning and covering the week through January 16, held mixed but mostly bullish results for traders to digest. Corn volume led the way once again, staying near the higher end of analyst estimates. Soybean volume was also relatively strong, while wheat sputtered 52% below the prior four-week average.
Corn exports found 65.8 million bushels in combined old and new crop sales last week. That was on the very high end of analyst estimates, which ranged between 27.6 million and 68.9 million bushels. Cumulative sales for the 2024/25 marketing year remain moderately ahead of last year’s pace so far after reaching 772.1 million bushels.
Corn export shipments moved to a new marketing-year high of 59.7 million bushels, which was 36% better than the prior four-week average. Japan, Mexico, South Korea, Spain and Colombia were the top five destinations.
No sorghum export sales were reported last week. Cumulative sales for the 2024/25 marketing year are trending at less than half of last year’s pace so far, with 40.5 million bushels.
Soybean export sales jumped noticeably above the prior four-week average after reaching 54.8 million bushels. That was also toward the higher end of analyst estimates, which ranged between 22.0 million and 68.0 million bushels. Cumulative sales for the 2024/25 marketing year remain moderately ahead of last year’s pace after moving to 1.188 billion bushels.
Soybean export shipments faded 33% below the prior four-week average, with 40.7 million bushels. China, Mexico, Spain, Germany and Egypt were the top five destinations.
Wheat exports eroded 68% lower week-over-week to 7.9 million bushels. That was also on the very lower end of analyst estimates, which ranged between 7.3 million and 23.9 million bushels. Cumulative totals for the 2024/25 marketing year are still tracking moderately ahead of last year’s pace so far after reaching 468.9 million bushels.
Wheat export shipments inched 2% higher week-over-week after reaching 7.4 million bushels. South Korea, Mexico, Japan, Honduras and Taiwan were the top five destinations.
Click here for more highlights from the latest UDSA export sales report.
Read more about:
ExportsAbout the Author
You May Also Like