Tridge summary
The USDA's recent grain export sales report, released on November 4, shows an increase in corn, soybeans, and wheat sales for the week ending October 28. Corn sales rose by 37%, soybeans by 58%, and wheat by 49% compared to the previous week. Despite these increases, cumulative sales for the 2021/22 marketing year still fall behind last year's figures. Corn and soybean exports were primarily shipped to Mexico and China, respectively, while wheat exports were predominantly delivered to Mexico.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The latest batch of grain export sales data from USDA, out Thursday morning and covering the week through October 28, showed some improvements in corn, soybeans and wheat. Corn sales firmed 37% week-over-week, with soybeans jumping 58% higher, while wheat improved 49% from last week. Grain prices were mixed but mostly higher immediately following this week’s report. Corn exports improved 37% from a week ago and moved 10% above the prior four-week average, to 48.2 million bushels. That was also toward the higher end of trade estimates, which ranged between 27.6 million and 55.9 million bushels. Cumulative sale for the 2021/22 marketing year are still lagging moderately behind last year’s pace, with 232.0 million bushels. Corn export shipments titled 9% higher from a week ago but stayed 17% below the prior four-week average, with 29.5 million bushels. Mexico was the No. 1 destination, with 12.5 million bushels. Japan, Colombia, Venezuela and Nicaragua rounded out the top five. ...
Source: Prairie Grain Partners
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