USDA Export Sales
The USDA's weekly export sales failed to throw any light on the recently rumoured/reported Chinese corn buying spree. Sales for the period April 30-May 6 for corn were 819,100 MT for 09/10 and 120,900 MT for 10/11, below expectations of 1-1.3 MMT. There were no confirmed sales to China, or any sign of 'unknown' amongst the old crop sales, although 'unknown' did take almost all the new crop.
Wheat sales were 244,400 MT for 09/10 and 241,100 MT for 10/11, a little better than expectations of 300,000 to 400,000 MT. Soybean sales were 263,300 MT for 09/10 and 211,300 MT for 10/11. China was in evidence for both marketing years.
Actual shipments were 1,033,200 MT for corn, only 195,300 MT for soybeans and 518,100 MT for wheat.
Wheat sales were 244,400 MT for 09/10 and 241,100 MT for 10/11, a little better than expectations of 300,000 to 400,000 MT. Soybean sales were 263,300 MT for 09/10 and 211,300 MT for 10/11. China was in evidence for both marketing years.
Actual shipments were 1,033,200 MT for corn, only 195,300 MT for soybeans and 518,100 MT for wheat.