Corn Export Commitments Gap With Last Year Narrows Somewhat
Total corn sales commitments for 2024-25 are up 29% from a year ago; soybean sales commitments are 12% higher than a year ago; wheat sales commitments are up 9% from a year ago.
OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 37.3 million bushels (mb) of corn; soybean net sales totaled 43.1 mb; wheat net sales commitments totaled 10.7 mb. All sales were for delivery in 2024-25.
For the week ended Dec. 5, 2024, USDA reported an increase of 37.3 mb (946,900 mt) of corn export sales in 2024-25. Last week’s export shipments of 46.6 mb were below the 51.3 mb needed each week to achieve USDA’s export estimate of 2.475 billion bushels (bb) in 2024-25. Corn sales commitments now total 1.383 bb in 2024-25 and are up 29% 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 second highest in five years.
For the week ended Dec. 5, USDA reported an increase of 43.1 mb (1,173,800 mt) of soybean export sales in 2024-25. Last week’s export shipments of 68.3 mb were above the 26.7 mb needed each week to achieve USDA’s export estimate of 1.825 bb in 2024-25. Soybean sales commitments now total 1.370 bb in 2024-25 and are up 12% from a year ago. That is ahead of USDA’s estimated pace at a time when USDA’s estimate of U.S. ending soybean stocks is the highest in five years.
For the week ended Dec. 5, USDA reported an increase of 10.7 mb (290,200 mt) of wheat export sales for 2024-25. Last week’s export shipments of 7.3 mb were below the 17.2 mb needed each week to achieve USDA’s export estimate of 850 mb in 2024-25. Wheat sales commitments now total 582 mb in 2024-25 and are up 9% from a year ago. That is behind USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is the highest in four years.