USDA Reports Higher Soybean, Wheat Export Sales in Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Friday due to the Juneteenth holiday listed net sales of 23.8 million bushels (mb) of corn, 23.5 mb of soybeans, and 21.30 mb of wheat, old and new crop combined for all three. The wheat total includes a cancellation.

For the week ended June 13, 2024, USDA reported an increase of 20.1 mb (511,400 mt) of corn export sales in 2023-24 and an increase of 3.7 mb (93,600 mt) for 2024-25. Last week’s export shipments of 58.3 mb were well above the 39.6 mb needed each week to achieve USDA’s export estimate of 2.150 billion bushels (bb) in 2023-24. Corn sales commitments now total 2.080 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 June 13, 2024, USDA reported an increase of 20.4 mb (556,500 mt) of soybean export sales in 2023-24 and an increase of 3.1 mb (84,000 mt) for 2024-25. Last week’s export shipments of 12.5 mb were below the 13.7 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.629 bb in 2023-24 and are down 15% from a year ago. That is even with 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 June 13, 2024, USDA reported an increase of 21.7 mb (589,700 mt) of wheat export sales for 2024-25 and a decrease of 0.4 mb (11,000 mt) for 2025-26. Last week’s export shipments of 13.4 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 199 mb in 2024-25 and are up 34% 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.