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 31.2 million bushels (mb) of corn and 15.5 mb of soybeans, old and new crop combined. Wheat saw cancellations of 0.7 mb for 2023-24 and sales of 15.0 mb for 2024-25.

For the week ended April 25, 2024, USDA reported an increase of 29.9 mb (758,500 mt) of corn export sales in 2023-24 and an increase of 1.3 mb (33,700 mt) for 2024-25. Last week’s export shipments of 54.4 mb were well above the 39.0 mb needed each week to achieve USDA’s export estimate of 2.100 bb in 2023-24. Corn sales commitments now total 1.840 billion bushels (bb) in 2023-24 and are up 23% 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 25, USDA reported an increase of 15.2 mb (414,000 mt) of soybean export sales in 2023-24 and an increase of 0.3 mb (7,000 mt) for 2024-25. Last week’s export shipments of 9.9 mb were below the 12.8 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.540 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 April 25, USDA reported a decrease of 0.7 mb (20,300 mt) of wheat export sales for 2023-24 and an increase of 15.0 mb (406,900 mt) for 2024-25. Last week’s export shipments of 18.7 mb were above the 16.4 mb needed each week to achieve USDA’s export estimate of 710 mb in 2023-24. Wheat export shipments now total 615 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.