Weekly export sales of U.S. soybeans fell 39% from the previous week's big amount, but matched expectations with China again the leading buyer by a large margin, USDA said Thursday.
Corn sales of 19.3 million bushels were down considerably from the week before and missed trade forecasts in a Reuters survey, with South Korea, Peru and Mexico the leading buyers.
Wheat sales of 16.4 million bushels were up 49% from the prior week and beat trade forecasts, led by Japan, Mexico and Brazil. A small batch of 2015/2016 wheat, 522,000 bushels, went to Costa Rica..
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Chicago soybean futures ticked a few cents lower after the numbers were released and were down 6 to 7 cents in nearby months, while corn futures weakened slightly with the December contract up ½ cent. Wheat futures largely moved lower after the report, despite the better-than-expected numbers, with Chicago SRW December down 1-3/4 cents.
The 48.7 million bushels in soybean sales were led by China, with Portugal, Egypt and Japan a ways back.
In daily reporting, USDA on Thursday said China bought 4.85 million bushels of soybeans and 4.45 million bushels of grain sorghum went to unknown destinations. Those sales will be included in a future weekly export report.
Soymeal sales of 147,800 metric tons were up considerably from the prior week, with Mexico, Venezuela and Canada the leading buyers. Also, 5,100 metric tons of 2015/2016 soymeal went to Nicaragua and Canada.