USDA Reports Corn Shipments Active Through August

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Fri due to Monday’s holiday listed net sales of 64.9 million bushels (mb) of corn, including old crop cancellations of 6.8 mb. Soybean net sales totaled 52.5 mb, including old crop cancellations of 8.4. Wheat net sales totaled 12.1 mb, including new crop cancellations of .4 mb.

For the week ended Aug. 29, 2024, USDA reported net sales cancellations of 6.8 mb (173,100 mt) of corn export sales in 2023-24 and an increase of 71.7 mb (1,822,500 mt) for 2024-25. Last week’s export shipments of 41.8 mb were well above the 26.3 mb needed each week to achieve USDA’s export estimate of 2.250 billion bushels (bb) in 2023-24. Corn export shipments now total 2.126 bb in 2023-24 and are up 37% from a year ago. That is slightly 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. 29, USDA reported net sales cancellations of 8.4 mb (228,000 mt) of soybean export sales in 2023-24 and an increase of 60.9 mb (1,658,700 mt) for 2024-25. Last week’s export shipments of 18.0 mb were below the 21.4 mb needed to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean export shipments now total 1.632 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. 29, USDA reported an increase of 12.5 mb (340,000 mt) of wheat export sales for 2024-25 and a net sales cancellation of 0.4 mb (10,500 mt) for 2025-26. Last week’s export shipments of 23.4 mb were well above the 15.9 mb needed each week to achieve USDA’s export estimate of 825 mb in 2024-25. Wheat sales commitments now total 378 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 four years.