The latest set of grain export data from USDA, out Thursday morning and covering the week through October 26, held another mixed bag of data for traders to digest. Wheat sales continued their ongoing struggle after stumbling 43% below the prior four-week average, and with export shipments falling to a marketing-year low. Corn sales were also moderately below the prior four-week average but were still relatively solid. Soybeans fared the best but still failed to match the prior week’s tally.

Corn export sales reached 30.0 million bushels in combined old and new crop sales last week. Old crop sales slumped 45% lower week-over-week and were 40% below the prior four-week average. That was on the lower end of trade estimates, which ranged between 23.6 million and 51.2 million bushels. Cumulative totals for the 2023/24 marketing year are still tracking above last year’s pace so far, with 196.4 million bushels.

Corn export shipments inched 5% higher week-over-week but were still 17% below the prior four-week average, with 19.9 million bushels. Mexico, Canada, Japan, Honduras and Guatemala were the top five destinations.

Sorghum export sales jumped to a marketing-year high of 14.9 million bushels last week. That grain is bound for China and unknown destinations. Cumulative totals for the 2023/24 marketing year is significantly above last year’s pace so far, with 17.1 million bushels.

Soybean exports were solid, reaching 37.1 million bushels last week. Still, that was 13% below the prior four-week average and on the very low end of analyst estimates, which ranged between 33.1 million and 58.8 million bushels. Cumulative totals for the 2023/24 marketing year are slightly ahead of last year’s pace so far, with 362.4 million bushels.

Soybean export shipments moved 23% above the prior four-week average, with 73.2 million bushels. China, Mexico, South Korea, Spain and Indonesia were the top five destinations.

Wheat export sales trended 24% lower week-over-week and were 43% below the prior four-week average, with 10.1 million bushels. Analysts missed the mark after offering trade guesses that ranged between 11.0 million and 25.7 million bushels prior to today’s report. Cumulative totals for the 2023/24 marketing year are still moderately below last year’s pace, with 250.6 million bushels.

Wheat export shipments eroded to a marketing-year low of 3.7 million bushels. Mexico, Algeria, Taiwan, Haiti and Colombia were the top five destinations.

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