USDA Reports Higher Corn Export Sales In Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed an increase of 61.5 million bushels (mb) of corn and 12.1 mb of soybeans, old and new crop combined. Wheat saw an increase of 16.7 mb in combination.

For the week ending April 18, 2024, USDA reported an increase of 51.2 million bushels (1,299,900 mt) of corn export sales in 2023-24 and an increase of 10.3 mb (262,300 mt) for 2024-25. Last week’s export shipments of 67.3 mb were well above the 40.5 mb needed each week to achieve USDA’s export estimate of 2.100 bb in 2023-24. Corn sales commitments now total 1.810 bb in 2023-24 and are up 20% 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 five years.   

For the week ending April 18, 2024, USDA reported an increase of 7.7 million bushels (210,900 mt) of soybean export sales in 2023-24 and an increase of 4.4 mb (120,100 mt) for 2024-25. Last week’s export shipments of 15.3 mb were above the 12.9 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.525 bb in 2023-24 and are down 18% from a year ago. That is 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 ending April 18, 2024, USDA reported an increase of 3.0 million bushels (82,000 mt) of wheat export sales for 2023-24 and an increase of 13.7 mb (371,900 mt) for 2024-25. Last week’s export shipments of 21.1 mb were above the 17.1 mb needed each week to achieve USDA’s export estimate of 710 mb in 2023-24. Wheat export shipments now total 596 mb in 2023-24 and are slightly above 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 second lowest in 10 years.