USDA’s new set of export sales data, out Thursday morning and covering the week through March 23, didn’t have a lot of impressive data for traders to digest. Corn volume led the way but still came in toward the lower end of analyst estimates. Soybean and wheat totals were also largely lackluster and rangebound.

Corn exports found 41.7 million bushels in total old and new crop sales last week. Old crop sales faded 67% lower week-over-week and were 34% below the prior four-week average. Analysts were generally expecting a bigger haul, with trade guesses ranging between 25.6 million and 82.7 million bushels. Cumulative totals for the 2022/23 marketing year remain well below the prior year’s pace, with 757.6 million bushels.

Corn export shipments also trended lower, spilling 37% below the prior four-week average to 26.3 million bushels. Mexico, Colombia, China, Japan and the Dominican Republic were the top five destinations.

Sorghum exports were dismal last week, only reaching 75,000 bushels – a 98% reduction compared to the prior four-week average. In contrast, sorghum export shipments reached a marketing-year high of 6.9 million bushels, which was bound for China and Mexico. Cumulative sorghum sales for the 2022/23 marketing year are running around one-fifth of last year’s pace so far, with 32.2 million bushels.

Soybean exports found 12.9 million bushels in combined old and new crop sales last week. Old crop sales firmed 36% above the prior four-week average. Total sales were toward the lower end of analyst estimates, which ranged between 5.5 million and 33.1 million bushels. Cumulative sales for the 2022/23 marketing year is trending slightly above last year’s pace so far, with 1.635 billion bushels.

Soybean export shipments jumped 48% above the prior four-week average to 38.2 million bushels. China, Mexico, Indonesia, the Netherlands and Germany were the top five destinations.

Wheat exports notched 6.9 million bushels of combined old and new crop sales last week. Old crop sales were up 21% week-over-week, but they were still 40% below the prior four-week average. Total sales were on the lower end of analyst estimates, which ranged between 4.6 million and 16.5 million bushels. Cumulative sales for the 2022/23 marketing year are slightly below last year’s pace, with 561.4 million bushels.

Wheat export shipments eased 6% below the prior four-week average to 13.9 million bushels. Mexico, unknown destinations, South Korea, Vietnam and the Philippines were the top five destinations.

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