USDA Reports 35.0 Million Bushels of Corn Sold For Export in Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 36.9 million bushels (mb) of corn, 16.0 mb of soybeans, and 16.4 mb of wheat, old and new crop combined for all three.

For the week ended May 2, 2024, USDA reported an increase of 35.0 mb (889,200 mt) of corn export sales in 2023-24 and an increase of 1.9 mb (49,100 mt) for 2024-25. Last week’s export shipments of 48.5 mb were above the 37.7 mb needed each week to achieve USDA’s export estimate of 2.100 bb in 2023-24. Corn sales commitments now total 1.875 billion bushels (bb) in 2023-24 and are up 24% 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 May 2, USDA reported an increase of 15.8 mb (428,900 mt) of soybean export sales in 2023-24 and an increase of 0.2 mb (4,600 mt) for 2024-25. Last week’s export shipments of 11.2 mb were below the 12.5 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.556 bb in 2023-24 and are down 17% 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 May 2, USDA reported an increase of 1.5 mb (41,100 mt) of wheat export sales for 2023-24 and an increase of 14.9 mb (406,000 mt) for 2024-25. Last week’s export shipments of 12.4 mb were below the 13.5 mb needed each week to achieve USDA’s export estimate of 710 mb in 2023-24. Wheat export shipments now total 627 mb in 2023-24 and are up 2% 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 second lowest in 10 years.