USDA Weekly Export Sales - Wheat Number Very Poor
The USDA's weekly export sales report released at 13.30GMT threw up a couple of surprises today. The biggest by a country mile being wheat sales of just 41,900 metric tons - a marketing-year low - and down 90 percent from the previous week and 86 percent from the prior 4-week average.
Not so much a number as a numb-er, the US knew they've been missing out on export sales but this really will make them numb.
Corn sales were also poor at 280,600mt, well below expectations for 400-500,000mt.
Soybean sales came in in line with estimates at 551,100mt against trade ideas of 400-600,000mt. China took the vast majority of this at 444,500mt.
Not so much a number as a numb-er, the US knew they've been missing out on export sales but this really will make them numb.
Corn sales were also poor at 280,600mt, well below expectations for 400-500,000mt.
Soybean sales came in in line with estimates at 551,100mt against trade ideas of 400-600,000mt. China took the vast majority of this at 444,500mt.