The latest round of export sales data from USDA, out Friday morning (delayed one day due to this weeks’ Memorial Day holiday) and covering the week through May 25, didn’t hold a lot of bullish data for traders to digest. Soybean sales managed meager week-over-week gains, but old crop corn sales faded significantly lower, and old crop wheat sales eroded to a new marketing-year low.

Old crop corn sales moved to 7.4 million bushels last week. New crop sales added another 12.3 million bushels, for a total tally of 19.7 million bushels. Total results were in line with analyst estimates, which ranged between net reductions of 3.9 million and net sales of 27.6 million bushels. Meantime, cumulative sales for the 2022/23 marketing year remain more than 600 million bushels below last year’s pace so far, with 1.202 billion bushels.

Corn export shipments improved 6% above the prior four-week average, with 56.5 million bushels. China, Mexico, Japan, Saudi Arabia and South Korea were the top five destinations.

Sorghum export sales added another 5.2 million bushels last week. That grain is bound for China and Eritrea. Cumulative sales for the 2022/23 marketing year are only trending at around one-fourth of last year’s pace, with 53.3 million bushels.

Soybean exports found combined old and new crop sales totaling 15.6 million bushels. Old crop sales shifted 16% above the prior four-week average. Totals sales were near the middle of analyst estimates, which ranged between net reductions of 3.7 million bushels and net sales of 27.6 million bushels. Cumulative sales for the 2022/23 marketing year are still slightly below last year’s pace so far, with 1.769 billion bushels.

Soybean export shipments fell 34% below the prior four-week average, with 8.5 million bushels. Mexico, Indonesia, Japan, Colombia and Costa Rica were the top five destinations.

Old crop wheat exports faded to a marketing-year low after facing net reductions of 7.7 million bushels. New crop sales reached 17.1 million bushels, however, leaving total sales at 9.4 million bushels. That was a bit toward the lower end of analyst estimates, which ranged between 3.7 million and 20.2 million bushels. Cumulative totals for the 2022/23 marketing year remain slightly below last year’s pace, with 649.3 million bushels.

Wheat export shipments were 39% better than the prior four-week average, with 14.0 million bushels. Thailand, the Dominican Republic, Mexico, Japan and Venezuela were the top five destinations.

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