USDA Weekly Export Sales

Posted by Nogger - a legend in his own mind at 14:13 | Categorized as

09/05/13 -- The USDA's weekly export sales report showed soybean and wheat sales in line with trade expectations and corn sales below market forecasts.

Soybean sales of 193,800 MT of old crop and 391,700 MT of new crop were in line with trade estimates for combined sales of 4-700 TMT. Old crop shipments now stand at 93.5% of the USDA target for the season, add on outstanding sales and we're now at 99.3%. Will the USDA raise that bar tomorrow?

Corn sales of 115,800 MT of old crop and 169,900 MT of new crop fell short of trade expectations for sales of a combined 4-800 TMT. Old crop commitments are 77% of the USDA target for the season. Will they lower that bar tomorrow?

Wheat sales came in at 239,200 MT of old crop and 226,300 MT of new crop versus trade forecasts of 3-800 TMT. Old crop commitments are now 94% of the USDA target for the season. With outstanding unshipped sales of almost 3 MMT though it seems likely that some of this will get rolled over into 2013/14 with only 4 weeks of the wheat marketing year left to go. That bar might also be a bit too high, but it's probably unlikely to be lowered tomorrow.