USDA Reports Another Active Week of Corn Shipments
Total corn sales shipments for 2023-24 are up 31% from a year ago; soybean sales commitments down 16%; 2024-25 wheat sales commitments are up 48% from a year ago.
OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 42.3 million bushels (mb) of corn, 33.8 mb of soybeans, and 11.4 mb of wheat. Corn and soybean sales include old and new crop purchases. The wheat total is all 2024-25 crop.
For the week ended July 18, 2024, USDA reported an increase of 13.0 mb (331,400 mt) of corn export sales in 2023-24 and an increase of 29.3 mb (745,200 mt) for 2024-25. Last week’s export shipments of 47.6 mb were above the 42.2 mb needed each week to achieve USDA’s export estimate of 2.225 billion bushels (bb) in 2023-24. Corn export shipments now total 1.865 bb in 2023-24 and are up 31% 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 four years.
For the week ended July 18, USDA reported an increase of 3.3 mb (88,600 mt) of soybean export sales in 2023-24 and an increase of 30.5 mb (829,700 mt) for 2024-25. Last week’s export shipments of 13.5 mb were below the 15.9 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean export shipments now total 1.544 bb in 2023-24 and are down 16% from a year ago. That is a little 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 July 18, USDA reported an increase of 11.4 mb (309,300 mt) of wheat export sales for 2024-25. Last week’s export shipments of 10.0 mb were well below the 16.0 mb needed each week to achieve USDA’s export estimate of 825 mb in 2024-25. Wheat sales commitments now total 295 mb in 2024-25 and are up 48% 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 highest in five years.