USDA Reports Active New-Crop Corn, Soybean Sales
Total corn sales shipments for 2023-24 are up 36% from a year ago; soybean sales shipments are down 15%; 2024-25 wheat sales commitments are up 31% from a year ago.
OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 55.5 million bushels (mb) of corn, mostly new-crop sales. Soybean data included an old crop decrease of 1.6 mb and new-crop sales of 61.6 mb. Wheat saw 2024-25 sales of 18.1 mb.
For the week ended Aug. 15, 2024, USDA reported an increase of 4.7 mb (119,100 mt) of corn export sales in 2023-24 and an increase of 50.8 mb (1,291,200 mt) for 2024-25. Last week’s export shipments of 45.5 mb were above the 37.7 mb needed each week to achieve USDA’s export estimate of 2.250 billion bushels (bb) in 2023-24. Corn export shipments now total 2.043 bb in 2023-24 and are up 36% from a year ago. That is a little above USDA’s estimated pace at a time when USDA’s estimate of U.S. ending corn stocks is the highest in four years.
For the week ended Aug. 15, USDA reported a decrease of 1.6 mb (43,700 mt) of soybean export sales in 2023-24 and an increase of 61.6 mb (1,676,900 mt) for 2024-25. Last week’s export shipments of 15.5 mb were below the 17.9 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean export shipments now total 1.598 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 Aug. 15, USDA reported an increase of 18.1 mb (492,700 mt) of wheat export sales for 2024-25. Last week’s export shipments of 17.3 mb were above the 16.0 mb needed each week to achieve USDA’s export estimate of 825 mb in 2024-25. Wheat sales commitments now total 346 mb in 2024-25 and are up 31% 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 five years.