The latest set of grain export sales data from USDA, out Thursday morning and covering the week through December 14, held some bullish data for traders to digest. Soybeans led the way again with another strong showing after climbing 51% above the prior four-week average. Corn sales were also relatively strong, although they did decline 29% week-over-week. Wheat sales were relatively lackluster, meantime, but still stayed in the range of analyst estimates.

Corn exports gathered 39.9 million bushels in combined old and new crop sales last week. Old crop sales tilted 29% lower than the prior week’s tally. Totals sales were a bit toward the lower end of trade guesses, which ranged between 31.5 million and 60.0 million bushels. Cumulative totals for the 2023/24 marketing year remain moderately ahead of last year’s pace so far, with 410.6 million bushels.

Corn export shipments were 14% better than the prior four-week average, with 34.3 million bushels. Mexico, China, Japan, Colombia and El Salvador were the top five destinations.

Sorghum export sales jumped 81% above the prior four-week average to 9.3 million bushels. That grain is heading to China. Cumulative totals for the 2023/24 marketing year are still trending substantially above last year’s pace, with 64.1 million bushels.

Soybean exports pulled in 78.4 million bushels in combined old and new crop sales last week. Old crop sales climbed 84% higher week-over-week and were 51% above the prior four-week average. That was slightly on the higher end of analyst estimates, which ranged between 55.1 million and 99.2 million bushels. Cumulative sales for the 2023/24 marketing year are still trending moderately below last year’s pace, however, with 760.5 million bushels since the beginning of September.

Soybean export shipments eased 3% below the prior four-week average, with 48.8 million bushels. China, Spain, Japan, Mexico and Indonesia were the top five destinations.

Wheat exports gathered 12.0 million bushels in combined old and new crop sales last week. Old crop sales slumped 78% lower week-over-week and were 51% below the prior four-week average. It was also on the lower end of analyst estimates, which ranged between 7.3 million and 27.6 million bushels. Cumulative totals for the 2023/24 marketing year remain moderately below last year’s pace so far, with 320.7 million bushels.

Wheat export shipments were 20% higher than the prior four-week average after reaching 12.4 million bushels. Mexico, Japan, Algeria, Taiwan and South Korea were the top five destinations.

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