USDA Reports Another Week of Active Corn Sales
Total corn sales shipments for 2023-24 are up 31% from a year ago; soybean sales shipments are down 16%; 2024-25 wheat sales commitments are up 42% from a year ago.
OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 34.6 million bushels (mb) of corn, 37.0 mb of soybeans, and 10.5 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 25, 2024, USDA reported an increase of 6.6 mb (167,900 mt) of corn export sales in 2023-24 and an increase of 28.0 mb (710,900 mt) for 2024-25. Last week’s export shipments of 40.8 mb were slightly below the 41.3 mb needed each week to achieve USDA’s export estimate of 2.225 bb in 2023-24. Corn export shipments now total 1.906 billion bushels (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 25, USDA reported an increase of 13.8 mb (376,400 mt) of soybean export sales in 2023-24 and an increase of 23.2 mb (632,100 mt) for 2024-25. Last week’s export shipments of 20.8 mb were above the 16.3 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean export shipments now total 1.558 bb in 2023-24 and are down 16% from a year ago. That is slightly 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 25, USDA reported an increase of 10.5 mb (286,600 mt) of wheat export sales for 2024-25. Last week’s export shipments of 16.7 mb were above the 16.2 mb needed each week to achieve USDA’s export estimate of 825 mb in 2024-25. Wheat sales commitments now total 305 mb in 2024-25 and are up 42% 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.