Export sales from the US: Soybeans make solid inroads
United States
Published May 20, 2022
Tridge summary
USDA’s latest set of grain export sales data, out Thursday morning and covering the week through May 12, held mixed but mostly positive numbers for traders to digest. Old crop wheat exports fared the worst, falling to a marketing-year low, but new crop sales propped up the total to more respectable levels. Corn sales were rangebound versus analyst estimates, and soybean sales moved to the upper end of trade guesses.
Original content
Old crop corn sales were up noticeably from the prior week, with 17.1 million bushels. New crop sales contributed another 23.2 million bushels, for a total of 40.3 million bushels. That was near the middle of analyst estimates, which came in between 25.6 million and 53.1 million bushels. Cumulative totals for the 2021/22 marketing year are still trending moderately below last year’s pace, with 1.690 billion bushels. Corn export shipments shifted 8% lower week-over-week and 11% below the prior four-week average, with 54.3 million bushels. Mexico was the No. 1 destination, with 14.4 million bushels. South Korea, Colombia, China and Japan rounded out the top five. Sorghum exports dropped to a marketing-year low of 2.6 million bushels. All of that grain is bound for China. Cumulative sales for the 2021/22 marketing year are slightly behind last year’s pace, with 210.4 million bushels. Sorghum export shipments fell 18% below the prior four-week average, with 7.6 million bushels. ...
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