Grain, soybean sales up in USDA weekly export sales report

Grain, soybean sales up in USDA weekly export sales report

USDA export sales report shows corn, soybean sales top forecasts

Weekly export sales of corn, soybeans and wheat reported on Thursday were up from the previous week, with the corn and soybean business topping trade forecasts in a Reuters survey.

Chicago soybean futures rose a few cents after the USDA crop report, while corn and wheat futures had little reaction.

Total soybean sales of nearly 27.4 million bushels were up 52% from the previous week and led by China, Indonesia, and Germany. Net sales of nearly 30,000 bushels of 2015-16 soybeans went to Japan.

USDA export sales report shows corn, soybean sales top forecasts

Corn export sales of 39.5 million bushels were up 19% from the week before in the USDA export sales report, with Mexico, Japan, and Colombia the leading buyers. About 4.6 million bushels of 2015-16 corn went to Mexico and Japan.

Wheat sales of 15.0 million bushels of the 2014-15 crop were up 3% from the previous week, with unknown destinations, Taiwan and Thailand the leading buyers. Net sales of 349,000 bushels of 2015-16 wheat went to Honduras.

After the report, Chicago corn futures were down ¾ cent in March at $3.85 per bushels and down 1 in May at $3.92-3/4.  March soybeans were up 2-1/2 cents at $9.80-1/4 per bushel and May was up 3-1/4 at $9.84. March soft red winter wheat was down ½ at $5.25-1/4 and May up ½ at $5.24-1/2. March hard red winter was down 2 at $5.57-1/4 and May was down 1-3/4 at $5.58-3/4. Spring wheat was lower with March off 1 at $5.75 and May off 1 at $5.77.

Soymeal expor t sales of 189,400 metric tons for 2014-15 were down 36% from the previous week, but within forecasts. The Philippines, Spain and Canada were the top buyers. Also, 45,100 metric tons of 2015/2016 soymeal went to Spain and Canada.

Grain, soybean sales up in USDA weekly export sales report

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