U.S. Corn Export Sales Increase, Soybeans Slip

U.S. Corn Export Sales Increase, Soybeans Slip

Wheat sales miss forecasts

U.S. corn export sales last week were up from the prior week and topped expectations for both old- and new-crop, with Japan, Colombia and Taiwan the leading buyers of 2013-2014 supplies.

Soybean sales were within expectations with old-crop sales down from the previous week and new-crop up slightly, while wheat sales were short of forecasts, USDA said in its weekly export report on Thursday

The corn sales included 22.6 million bushels of 2013-14 supplies and 19.5 million of 2014-2015.

Chicago grain futures had little reaction to the news, with corn futures near unchanged and soybean futures lower as traders remain focused on the big crops now growing in U.S. fields.

Wheat sales miss forecasts for U.S. export sales figures

The soybean sales included nearly 1.4 million bushels of old-crop business and 20.6 million of new-crop. Taiwan and China were the top old-crop buyers, while China and unknown destinations led new-crop.

In daily reporting on Thursday, USDA said China bought 708,000 tonnes, or 26 million bushels, of 2014-15 soybeans, it fifth daily purchase this month. USDA has forecast that China will buy 73 million tonnes of 2014-15 soybeans and about a third of that should come from the United States.

Wheat sales at 11.8 million bushels were down slightly from the previous week, with Japan, China and Thailand the leading buyers.

View the full USDA export report for July 4-10.

U.S. Corn Export Sales Increase, Soybeans Slip

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