Corn Export Sales Exceed Forecast

Corn Export Sales Exceed Forecast

 

Weekly Export Activity

Weekly soybean export sales for the 2020/21 marketing year were a net reduction to sales in the amount of 79.3 thousand metric tons (TMT), which was noticeably below last week’s total of 62 TMT and the four-week average of 60.1 TMT. There were 312.8 TMT in sales recorded for the 2021/22 crop season, lifting total sales to 233.5 TMT. Combined crop year sales were two percent below last week and within analyst estimates that ranged from 0 to 400 TMT. 2020/21 export commitments are 100 percent of the revised USDA forecast with 5 weeks remaining in the current crop season. Export sales are 33 percent above the 2019/20 crop year pace. Major purchases were reported for Taiwan, Mexico, and Vietnam.

Soybean meal sales for the 2020/21 marketing year of 87.3 TMT were 28 percent above last week but 40 percent under the prior four-week average of 145.9 TMT. There were 17.1 TMT in sales…

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