USA: More rangebound results of grain

Published 2022년 11월 3일

Tridge summary

The USDA has reported mixed results for the latest round of export sales data for soybeans, wheat, and corn for the week of October 27, 2022. Corn export sales were moderate, reaching 14.7 million bushels, with China as the main destination. Soybean export sales were slightly below expectations, totaling 30.5 million bushels, but shipments were robust at 97.4 million bushels, primarily to China. Wheat export sales were also below expectations, at 12.8 million bushels, with Mexico as the leading buyer. Sorghum sales were disappointing, with only 480,000 bushels going to Mexico. Cumulative totals for the 2022/23 marketing year are slightly below or on par with last year's pace for corn and soybeans, but slightly above for wheat.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The latest round of export sales data from USDA, out Thursday morning and covering the week through October 27, didn’t have a lot of bullish numbers for traders to digest. Soybean and wheat tallies were lackluster, coming in on the lower end of analyst estimates. Corn fared better but still posted pedestrian totals that were near the middle of trade guesses. Corn export sales reached 14.7 million bushels last week. That was near the middle of analyst estimates, which ranged between 9.8 million and 26.6 million bushels. Cumulative totals for the 2022/23 marketing year are trending moderately below last year’s pace so far, with 163.2 million bushels. Corn export shipments came in at 17.7 million bushels last week. China was the No. 1 destination, with 5.7 million bushels. Mexico, Japan, Jamaica and Taiwan rounded out the top five. Sorghum export sales only reached 480,000 bushels last week. All of that grain is bound for Mexico. Cumulative totals for the 2022/23 marketing year have ...

Source: Prairie Grain Partners