USDA Reports Active Corn, Wheat Shipments in Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 22.3 million bushels (mb) of corn and 27.5 mb of soybeans, old and new crop combined. Wheat saw cancellations of 3.4 mb for 2023-24 and sales of 8.2 mb for 2024-25.

For the week ended April 11, 2024, USDA reported an increase of 19.7 mb (501,200 mt) of corn export sales in 2023-24 and an increase of 2.6 mb (65,000 mt) for 2024-25. Last week’s export shipments of 60.9 mb were well above the 41.4 mb needed each week to achieve USDA’s export estimate of 2.100 bb in 2023-24. Corn sales commitments now total 1.759 billion bushels (bb) in 2023-24 and are up 17% 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 April 11, USDA reported an increase of 17.8 mb (485,800 mt) of soybean export sales in 2023-24 and an increase of 9.7 mb (263,200 mt) for 2024-25. Last week’s export shipments of 17.7 mb were above the 13.0 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.517 bb in 2023-24 and are down 18% 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 April 11, USDA reported net cancellations of 3.4 mb (93,600 mt) of wheat export sales for 2023-24 and an increase of 8.2 mb (222,000 mt) for 2024-25. Last week’s export shipments of 17.9 mb were above the 17.2 mb needed each week to achieve USDA’s export estimate of 710 mb in 2023-24. Wheat export shipments now total 575 mb in 2023-24 and are down 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.