Corn, Wheat, Soybean Export Commitments Higher Than Year Ago

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Friday due to Monday’s holiday listed net sales of 87.6 million bushels (mb) of corn; soybean net sales totaled 62.6 mb; wheat net sales commitments totaled 18.5 mb. All sales were for 2024-25 delivery.

For the week ended Oct. 10, 2024, USDA reported an increase of 87.6 mb (2,225,700 mt) of corn export sales in 2024-25. Last week’s export shipments of 19.8 mb were below the 45.7 mb needed each week to achieve USDA’s export estimate of 2.325 billion bushels (bb) in 2024-25. Corn sales commitments now total 782 mb in 2024-25 and are up 23% from a year ago. That is ahead of USDA’s estimated pace at a time when USDA’s estimate of U.S. ending corn stocks is the highest in six years.

For the week ended Oct. 10, USDA reported an increase of 62.6 mb (1,702,700 mt) of soybean export sales in 2024-25. Last week’s export shipments of 68.1 mb were above the 36.6 mb needed each week to achieve USDA’s export estimate of 1.850 bb in 2024-25. Soybean sales commitments now total 802 mb in 2024-25 and are up 5% from a year ago. That is behind USDA’s estimated pace at a time when USDA’s estimate of U.S. ending soybean stocks is the highest in six years.

For the week ended Oct. 10, USDA reported an increase of 18.5 mb (504,100 mt) of wheat export sales for 2024-25. Last week’s export shipments of 14.4 mb were below the 14.9 mb needed each week to achieve USDA’s export estimate of 825 mb in 2024-25. Wheat sales commitments now total 461 mb in 2024-25 and are up 17% from a year ago. That is ahead of USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is the highest in four years.