Corn Export Sales Hit Marketing Year Low

Corn Export Sales Hit Marketing Year Low

 

Weekly Export Sales 

Soybean export sales for the 2019/20 marketing year of 257.8 thousand metric tons (TMT), were 107.3 TMT below last week’s total and 45 percent below the four-week average of 468 TMT. New crop sales totaled 3,344.2 TMT, lifting total sales to 3,602 TMT.  Combined crop year sales were 35 percent above last week’s and exceeded analyst estimates that ranged from 1,100 to 2,500 TMT. 2019/20 export commitments are 104 percent of the USDA revised forecast. Export sales are four percent below the 2018/19 crop year pace. Major purchases were reported for Germany, the Netherlands, and Egypt.

Soybean meal sales for the 2019/20 marketing year of 260.9 TMT were 215.6 TMT above last week’s total and 113 percent over the prior four-week average of 122 TMT. New crop sales totaled 32.9 TMT, lifting total sales to 293.8 TMT. Combined crop year sales were 195 percent above last week’s report but within…

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