Export sales: Soybean volume still strong in the United States

Published 2022년 6월 16일

Tridge summary

The USDA's latest grain export sales report, released on June 16, shows mixed results with mostly disappointing performances. Soybean sales are showing relative strength despite tighter domestic supplies, while old crop corn sales have dropped to a marketing-year low. Wheat sales are also underperforming. Corn export shipments have decreased by 10% from the average, with Mexico as the top destination. Soybean exports have increased by 23% from the average, with Mexico being the leading recipient. Wheat export shipments were 13.6 million bushels last week, reaching the lower end of analyst expectations.

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

Original content

USDA’s latest set of grain export sales data, out Thursday morning and covering the week through June 9, showed mixed but mostly disappointing results. Soybean sales continue to show relative strength, especially considering that domestic supplies are getting increasingly tighter. Old crop corn sales fell to a marketing-year low, meantime, and wheat sales moved to the lower end of trade expectations. Old crop corn sales reached 5.5 million bushels last week. New crop sales chipped in another 5.5 million bushels, bringing the total to 11.0 million bushels. Analysts were generally expecting to see stronger totals, offering a range of guesses between 5.9 million and 35.4 million bushels prior to the report’s release. Cumulative sales for the 2021/22 marketing year are more than 200 million bushels below last year’s pace, with 1.932 billion bushels. Corn export shipments slid 10% below the prior four-week average, with 54.6 million bushels. Mexico was the No. 1 destination, with 18.1 ...

Source: Prairie Grain Partners