Corn, Soy, Wheat Export Sales Higher for Week

Corn, Soy, Wheat Export Sales Higher for Week

Corn, soybean 2013-2014 sales carried over

Export sales of 2014-2015 U.S. corn, soybeans and wheat were up from the previous week, with corn and soybeans within trade expectations, while wheat sales beat forecasts, USDA's weekly export report showed on Thursday.

The exports appeared to have little effect on Chicago grain futures where corn, soybeans and wheat were trading mostly lower before and after the report as traders focused on USDA's supply and demand report, which will be released later Thursday morning.

Corn sales of near 22.2 million bushels went to Mexico, Japan, unknown destinations, and others. Sales of 52.8 million bushels were carried over from the 2013/2014 crop year.

USDA reports higher corn, soy and wheat export sales for the week

Wheat sales totaled nearly 25.4 million bushels and were led by Taiwan, Malaysia and the Philippines..

Soybean sales of 36.2 million bushels were led by China and unknown destinations. The report included  2.6 million bushels of 2015-2016 sales that went to unknown destinations. Sales of 49.25 million bushels were carried over from 2013-2014.

In a separate daily report, USDA on Thursday said China bought 8.82 million bushels of 2014-2015 U.S. soybeans and unknown destinations bought 7.72 million. In addition, China bought 13.23 million of optional-origin soybeans. An optional-origin contract provides that the origin of the commodity may be the United States or one or more other exporting countries.

Weekly soybean meal sales for 2013-2014 were 14,100 metric tons with Honduras and Mexico the leading buyers. Sales for 2014-2015 soymeal totaled 203,200 metric tons and were led by unknown destinations and the Dominican Republic.

The marketing year for soybean meal begins October 1.

View the full Sept. 11 USDA export report online.

Corn, Soy, Wheat Export Sales Higher for Week

TAGS: USDA
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