USDA Reports Lower Corn, Soybean Export Sales in Latest Week
Total corn sales commitments for 2023-24 are up 27% from a year ago; soybean sales commitments down 16%; wheat sales shipments are up 4%.
OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 34.2 million bushels (mb) of corn, 10.7 mb of soybeans, and 14.1 mb of wheat, old and new crop combined for all three.
For the week ended May 9, 2024, USDA reported an increase of 29.2 mb (742,200 mt) of corn export sales in 2023-24 and an increase of 5.0 mb (128,200 mt) for 2024-25. Last week’s export shipments of 37.5 mb were below the 40.0 mb needed each week to achieve USDA’s export estimate of 2.150 bb in 2023-24. Corn sales commitments now total 1.904 billion bushels (bb) in 2023-24 and are up 27% from a year ago. That is a little 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 ended May 9, USDA reported an increase of 9.8 mb (265,700 mt) of soybean export sales in 2023-24 and an increase of 0.9 mb (25,200 mt) for 2024-25. Last week’s export shipments of 16.3 mb were above the 12.6 mb needed each week to achieve USDA’s export estimate of 1.700 bb in 2023-24. Soybean sales commitments now total 1.565 bb in 2023-24 and are down 16% from a year ago. That is a little 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 ended May 9, USDA reported an increase of 2.9 mb (78,500 mt) of wheat export sales for 2023-24 and an increase of 11.2 mb (304,300 mt) for 2024-25. Last week’s export shipments of 16.5 mb were slightly above the 16.3 mb needed each week to achieve USDA’s export estimate of 720 mb in 2023-24. Wheat export shipments now total 644 mb in 2023-24 and are up 4% 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 second lowest in 10 years.