Export sales of corn, soybeans and wheat for the week ended Sept. 1 were up from the prior week with the soybean and wheat business better than expected.
USDA’s weekly report on Friday also said 135 million bushels of corn and 73.1 million of soybeans were carried over from the 2015/2016 crop year, which ended Aug. 31.
In the report, 2016/2017 corn sales of 43 million bushels were led by Mexico, unknown destinations and Japan. Also, 1.2 million bushels of 2017/2018 corn went to Mexico.
The 2016/2017 soybean sales of 65.3 million bushels were led by China, unknown destinations and Bangladesh. In addition, nearly 294,000 bushels of 2017/2018 soybeans went to Costa Rica.
The 24.3 million bushels of wheat sales were led by the Philippines, Brazil and China.
Chicago’s crop markets had little reaction to the numbers with corn futures down 1-1/4-2-3/4 cents in nearby months when the overnight session closed shortly after the report. Soybeans futures were down ½ to 1-1/4 cents in nearby months. Soft red winter wheat futures were down 4-1/2 cents, hard red winter down 2-1/4 in December contract and December spring wheat was down 1.
Old-crop soymeal export sales totaled 63,000 metric tons with Venezuela, Dominican Republic and Japan the leading buyers. The soymeal crop year concludes at the end of September. New-crop soymeal sales of 54,400 were down from a week ago and missed trade forecasts. They were led by Thailand, Dominican Republic and Mexico.
Sorghum sales for the 2016/2017 crop year of 39,370 bushels went to Indonesia. A total of 15.7 million bushels of 2015/2016 sales were carried over to the 2016/2017 crop year.
USDA exports - Sept. 1, 2016 - Corn, soybean sales down in latest week
USDA exports- Aug. 25, 2016 - New-crop corn, soybean sales have big week