Export sales: Soybean volume still strong in the United States
Wheat
Maize (Corn)
Soybean
United States
Published Jun 17, 2022
Tridge summary
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.
Original content
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 million bushels. China, Japan, South Korea and Canada rounded out the top five. Sorghum export sales tumbled noticeably below the prior four-week average, with just 83,000 bushels. Increases to China were largely offset by reductions to unknown destinations. Cumulative totals for the 2021/22 marketing year are slightly trailing last year’s pace, with 237.1 million bushels. Soybean exports found 11.7 million bushels in old crop sales plus another 15.0 million ...
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