Export Sales Solid This Week
Soybeans down but still very solid.
Bryce Knorr
Published: Sep 11, 2009
While USDA's supply and demand report provided most of the headlines this morning, export sales data released this morning were upbeat. The report was delayed due to the Labor Day holiday.
Wheat sales were solid for the second straight week, with net new bookings totaling 23.4 million bushels. Buyers in Asia, the Americans and the Middle East combined to push the results, though there were again no really big buyers. Both commitments and shipments remain well behind normal as the second quarter of the marketing year for wheat gets underway. USDA, however, kept its forecast for wheat exports unchanged on the year.
Corn sales also were good at 40.4 million bushels, up a little from last week. USDA raised its forecast of sales for the 2009 crop year despite something of a slow start, so good weeks are going to have to be the rule and not the exception to meet the government's estimate.
Soybean sales lacked the big numbers of some of the recent weeks but were still very solid at 30.5 million bushels. China again was the leading buyer, taking virtually all of the week's shipments as well
For the complete export report, click here.
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Tagged: usda, wheat, soybean, labor
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