USDA Reports Corn, Soybean Shipments Remain Active in Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 52.5 million bushels (mb) of corn, 14.1 mb of soybeans, and 20.3 mb of wheat. All three posted sales for delivery in both the 2023-24 and 2024-25 crop years.

For the week ended March 21, 2024, USDA reported an increase of 47.5 mb (1,206,500 mt) of corn export sales in 2023-24 and an increase of 5.0 mb (126,400 mt) for 2024-25. Last week’s export shipments of 48.6 mb were above the 45.3 mb needed each week to achieve USDA’s export estimate of 2.100 billion bushels (bb)in 2023-24. Corn sales commitments now total 1.689 bb in 2023-24 and are up 19% from a year ago. That is below 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 March 21, USDA reported an increase of 9.7 mb (263,900 mt) of soybean export sales in 2023-24 and an increase of 4.4 mb (120,000 mt) for 2024-25. Last week’s export shipments of 28.9 mb were well above the 15.4 mb needed each week to achieve USDA’s export estimate of 1.720 bb in 2023-24. Soybean sales commitments now total 1.483 bb in 2023-24 and are down 19% from a year ago. That is below 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 March 21, USDA reported an increase of 12.5 mb (339,600 mt) of wheat export sales for 2023-24 and an increase of 7.8 mb (212,800 mt) for 2024-25. Last week’s export shipments of 15.0 mb were below the 18.2 mb needed each week to achieve USDA’s export estimate of 710 mb in 2023-24. Wheat export shipments now total 515 mb in 2023-24 and are down 8% from a year ago. That is below USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is the third lowest in 10 years.