USDA Reports Another Week of Active Corn, Wheat Shipments

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 36.3 million bushels (mb) of corn, 27.0 mb of soybeans, and 21.3 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 11, 2024, USDA reported an increase of 17.2 mb (437,800 mt) of corn export sales in 2023-24 and an increase of 19.1 mb (485,700 mt) for 2024-25. Last week’s export shipments of 43.5 mb were above the 42.4 mb needed each week to achieve USDA’s export estimate of 2.225 billion bushels (bb) in 2023-24. Corn sales commitments now total 2.154 bb in 2023-24 and are up 38% 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 July 11, USDA reported an increase of 13.2 mb (360,100 mt) of soybean export sales in 2023-24 and an increase of 13.8 mb (375,000 mt) for 2024-25. Last week’s export shipments of 7.4 mb were below the 14.8 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.667 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 11, USDA reported an increase of 21.3 mb (578,500 mt) of wheat export sales for 2024-25. Last week’s export shipments of 23.2 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 284 mb in 2024-25 and are up 49% 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.