USDA Weekly Export Sales/Second Call On Chicago

The USDA today reported weekly export sales for wheat of 668,100MT for 08-09 the marketing year. Corn was 325,900Mt for 07-08 and 302,500MT for 08-09. Soybeans came in at 465,900Mt for 07-08 and 176,500Mt for 08-09.

The soybean numbers are above analysts expectations for a total of 325,000-525,000MT. Soymeal sales were a net 160,100 tons, above trade estimates of 25,000 to 125,000 tons. Soyoil commitments were 6,100 metric tons, within trade estimates of zero to 15,000 tons.

Corn was slightly above the range of traders estimates of 400-600,000MT, as was wheat which was also predicted in the range 400-600,000MT.

Weekly export sales are viewed as bullish wheat, soybean meal and soybeans and neutral to corn, and soybean oil.

Still, the second morning futures calls for this afternoon's pre-holiday session are September corn down 5 to 10 cents, September soybeans down 10 to 15 cents, and September CBOT wheat down 3 to 5 cents.