Grain export sales were mostly solid for the week ending August 10 after USDA released its latest weekly report Thursday morning. Soybeans led the way, thanks to a strong batch of new crop sales from China. Corn sales were also mostly solid, while wheat volume retreated moderately lower week-over-week.

Corn exports reached 36.9 million bushels of combined old and new crop sales last week. Old crop sales jumped 55% above the prior week’s tally and were 16% above the prior four-week average. Total sales were also toward the higher end of analyst estimates, which ranged between 19.7 million and 49.2 million bushels. Cumulative sales for the 2022/23 marketing year remain significantly below last years’ pace so far, with 1.488 billion bushels.

Corn export shipments eased 6% below the prior four-week average, with 17.5 million bushels. Mexico was the No. 1 destination, with 9.2 million bushels. China, Japan, Venezuela and Canada rounded out the top five.

Sorghum exports landed 4.0 million bushels of combined old and new crop sales last week. The entirety of that grain is bound for China. Cumulative sales for the 2022/23 marketing year are still noticeably below last year’s pace, with 83.3 million bushels.

Old crop soybean sales were 42% below the prior four-week average, but a strong showing of new crop sales boosted the total to 36.9 million bushels. That was a bit toward the higher end of trade estimates, which ranged between 19.7 million and 49.2 million bushels. Cumulative totals for the 2022/23 marketing year are slightly below last year’s pace, with 1.882 billion bushels.

Soybean export shipments trended 14% higher week-over-week and were 48% above the prior four-week average, with 16.0 million bushels. The Netherlands, Indonesia, Mexico, Egypt and Taiwan were the top five destinations.

Wheat export sales totaled 13.2 million bushels last week, which was 3% above the prior four-week average. That was also near the middle of trade estimates, which ranged between 7.3 million and 19.3 million bushels. Cumulative totals for the 2023/24 marketing year are a bit below last year’s pace so far, with 116.3 million bushels.

Wheat export shipments faded 38% below the prior four-week average, with 8.4 million bushels. Vietnam, South Korea, Ecuador, Mexico and Panama were the top five destinations.

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