US export sales: Soybeans land big new crop totals

Published 2022년 8월 18일

Tridge summary

The USDA has released mixed but mostly positive grain export data for the week ending August 11. While wheat sales were disappointing, hitting a marketing-year low and falling short of trade expectations, new crop corn and soybean sales were strong, with corn sales totaling 33.4 million bushels and soybean sales at 51.5 million bushels, both exceeding analyst projections. Corn and soybean export shipments were also robust, with China being the main destination for both. However, wheat export sales were also below all analyst estimates, with the Philippines being the top destination. Cumulative totals for the 2021/22 marketing year are slightly behind last year’s pace for corn, soybeans, and wheat.

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

Original content

USDA’s newest set of grain export data, out Thursday morning and covering the week through August 11, held mixed but mostly bullish numbers for traders to digest. Wheat sales were largely disappointing, falling to a marketing-year low and failing to match trade guesses. In contrast, new crop corn tallies were relatively strong, and new crop soybean sales exceeded the entire range of analyst estimates. Old crop corn sales came in at 3.9 million bushels, and new crop sales came in at 29.5 million bushels, for a total of 33.4 million bushels. That was toward the higher end of trade estimates, which ranged between 11.8 million and 43.3 million bushels. Cumulative totals for the 2021/22 marketing year are still moderately below last year’s pace, with 2.273 billion bushels. Corn export shipments trended 33% below the prior four-week average, with 24.5 million bushels. China was the No. 1 destination, with 10.8 million bushels. Mexico, Trinidad and Tobago, Panama and Honduras rounded out ...

Source: Prairie Grain Partners