USDA Reports Active New-Crop Sales in Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 59.4 million bushels (mb) of corn, mostly new-crop sales. Soybean data included an old-crop decrease of 5.3 mb and new-crop sales of 96.1 mb. Wheat saw 2024-25 sales of 19.6 mb and a cancellation of 1.3 mb for 2025-26.

For the week ended Aug. 22, 2024, USDA reported an increase of 0.6 mb (15,300 mt) of corn export sales in 2023-24 and an increase of 58.8 mb (1,494,100 mt) for 2024-25. Last week’s export shipments of 41.3 mb were well above the 33.8 mb needed each week to achieve USDA’s export estimate of 2.250 billion bushels (bb) in 2023-24. Corn export shipments now total 2.085 bb in 2023-24 and are up 36% from a year ago. That is 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. 22, USDA reported net sales cancellations of 5.3 mb (143,600 mt) of soybean export sales in 2023-24 and an increase of 96.1 mb (2,615,800 mt) for 2024-25. Last week’s export shipments of 19.9 mb were above the 19.1 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean export shipments now total 1.614 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. 22, USDA reported an increase of 19.6 mb (532,100 mt) of wheat export sales for 2024-25 and a decrease of 1.3 mb (34,500 mt) for 2025-26. Last week’s export shipments of 21.2 mb were above the 16.0 mb needed each week to achieve USDA’s export estimate of 825 mb in 2024-25. Wheat sales commitments now total 366 mb in 2024-25 and are up 33% from a year ago. That is well above USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is the highest in five years.