USDA Reports Another Week Of Active Corn Shipments
Total corn sales commitments for 2023-24 are up 37% from a year ago; soybean sales commitments down 14%; 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 25.8 million bushels (mb) of corn, 8.3 mb of soybeans, and 8.8 mb of wheat. Corn and soybean sales include old and new crop purchases. The wheat total is all old crop.
For the week ended July 4, 2024, USDA reported an increase of 21.2 mb (538,300 mt) of corn export sales in 2023-24 and an increase of 4.6 mb (116,500 mt) for 2024-25. Last week’s export shipments of 34.6 mb were above the 33.2 mb needed each week to achieve USDA’s export estimate of 2.150 bb in 2023-24. Corn sales commitments now total 2.137 billion bushels (bb) in 2023-24 and are up 37% 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 five years.
For the week ended July 4, USDA reported an increase of 7.6 mb (208,000 mt) of soybean export sales in 2023-24 and an increase of 7.0 mb (191,300 mt) for 2024-25. Last week’s export shipments of 9.8 mb were below the 14.3 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.653 bb in 2023-24 and are down 14% from a year ago. That is a little above 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 4, USDA reported an increase of 8.8 mb (240,400 mt) of wheat export sales for 2024-25. Last week’s export shipments of 10.8 mb were below the 15.5 mb needed each week to achieve USDA’s export estimate of 800 mb in 2024-25. Wheat sales commitments now total 262 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 four years.