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Export Sales: Last call for old crop wheat

USDA serves up final full week of data for the current marketing year.

Ben Potter, Senior editor

June 3, 2022

2 Min Read
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Joanna McCarthy/Getty Images Plus

Technically, wheat has entered the 2022/23 marketing year as of June 1. However, the latest USDA export sales report, covering the week through May 26, offered one of the final look at 2021/22 sales (which came in at a trickle). Soybean and corn sales were also disappointing in a largely lackluster set of data from the past week.

Old crop corn sales fell 52% below the prior four-week average, with 7.3 million bushels. New crop sales accounted for another 1.9 million bushels, bringing the total to 9.2 million bushels. That was on the very low end of trade estimates, which came in between 8.9 million and 27.6 million bushels. Cumulative totals for the 2021/22 marketing year remain moderately behind last year’s pace, with 1.823 billion bushels.

Corn export shipments were much more robust but still faded 4% below the prior four-week average, with 62.2 million bushels. Mexico, Japan, China, Colombia and South Korea were the top five destinations.

Sorghum export sales made it to 1.3 million bushels after increases to China and Eritrea more than offset reductions from unknown destinations. Cumulative totals for the 2021/22 marketing year are running slightly below last year’s pace, with 223.3 million bushels.

Old crop soybean sales fell to a marketing-year low of 4.3 million bushels last week. New crop sales added another 10.4 million bushels, bringing the total to 14.7 million bushels. That was toward the lower end of trade guesses, which ranged between 7.3 million and 39.4 million bushels. Cumulative totals for the 2021/22 marketing year are still nearly 300 million bushels behind last year’s pace, with 1.825 billion bushels.

Soybean export shipments were down 36% from the prior four-week average, with 14.9 million bushels. Egypt, China, the Netherlands, Japan and Mexico were the top five destinations.

Old crop wheat sales were down noticeably from a week ago, with just over 25,000 bushels. New crop sales were much better, with 13.4 million bushels. That put the latest tally on the upper end of trade estimates, which ranged between 5.5 million and 16.5 million bushels. Cumulative totals for the 2021/22 marketing year are nearly 200 million bushels below last year’s pace, with 680.9 million bushels.

Wheat export shipments increased 18% over the prior four-week average to 13.7 million bushels. Mexico, Nigeria, the Philippines, Taiwan and Peru were the top five destinations.

Click here for more results from USDA’s latest report, covering May 20 through May 26.

About the Author

Ben Potter

Senior editor, Farm Futures

Senior Editor Ben Potter brings two decades of professional agricultural communications and journalism experience to Farm Futures. He began working in the industry in the highly specific world of southern row crop production. Since that time, he has expanded his knowledge to cover a broad range of topics relevant to agriculture, including agronomy, machinery, technology, business, marketing, politics and weather. He has won several writing awards from the American Agricultural Editors Association, most recently on two features about drones and farmers who operate distilleries as a side business. Ben is a graduate of the University of Missouri School of Journalism.

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