USDA Reports Higher Wheat Export Sales In Latest Week
Total corn sales commitments for 2023-24 are up 38% from a year ago; soybean sales commitments down 15%; wheat sales commitments are up 45% from a year ago.
OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 26.8 million bushels (mb) of corn, 14.1 mb of soybeans, and 24.5 mb of wheat. Corn and soybean sales include old and new crop purchases. The wheat total is all old crop.
For the week ended June 20, 2024, USDA reported an increase of 21.3 million bushels (mb) (542,200 mt) of corn export sales in 2023-24 and an increase of 5.5 mb (139,300 mt) for 2024-25. Last week’s export shipments of 46.3 mb were above the 37.9 mb needed each week to achieve USDA’s export estimate of 2.150 billion bushels (bb) in 2023-24. Corn sales commitments now total 2.101 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 five years.
For the week ended June 20, USDA reported an increase of 10.4 mb (282,900 mt) of soybean export sales in 2023-24 and an increase of 3.7 mb (101,800 mt) for 2024-25. Last week’s export shipments of 14.4 mb were above the 13.8 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.637 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 20, USDA reported an increase of 24.5 mb (667,200 mt) of wheat export sales for 2024-25. Last week’s export shipments of 11.9 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 224 mb in 2024-25 and are up 45% from a year ago. That is well above USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is the highest in four years.