USDA Reports Active Corn, Soybean Export Sales in Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 44.3 million bushels (mb) of corn, 14.0 mb of soybeans, and 9.0 mb of wheat, old and new crop combined for all three.

For the week ended June 6, 2024, USDA reported an increase of 41.6 mb (1,056,100 mt) of corn export sales in 2023-24 and an increase of 2.7 mb (69,500 mt) for 2024-25. Last week’s export shipments of 49.2 mb were above the 40.4 mb needed each week to achieve USDA’s export estimate of 2.150 bb in 2023-24. Corn sales commitments now total 2.060 bb in 2023-24 and are up 36% from a year ago. That is above USDA’s estimated pace at a time when USDA’s estimate of U.S. ending corn stocks is the highest in five years.   

For the week ended June 6, USDA reported an increase of 13.9 mb (377,100 mt) of soybean export sales in 2023-24 and an increase of 0.1 mb (3,000 mt) for 2024-25. Last week’s export shipments of 7.9 mb were below the 13.2 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.609 bb in 2023-24 and are down 15% from a year ago. That is even with USDA’s estimated pace at a time when USDA’s estimate of U.S. ending soybean stocks is the highest in four years.   

For the week ended June 6, USDA reported an increase of 8.2 million bushels (223,900 mt) of wheat export sales for 2024-25 and an increase of 0.8 mb (21,600 mt) for 2025-26. Last week’s export shipments of 9.6 mb were below the 15.4 mb needed each week to achieve USDA’s export estimate of 800 mb in 2024-25. Wheat sales commitments now total 178 mb in 2024-25 and are up 22% from a year ago. That is above USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is the highest in four years.