USDA Weekly Export Sales
14/02/13
-- The USDA's weekly export sales report surprised the market by showing wheat sales exceeding those for soybeans and corn combined. Now that hasn't happened for a long time. Wheat sales of 651,700 MT of old crop and 54,600 MT of new crop comfortably beat trade expectations of 275-400 TMT.
Soybean sales were disappointing, showing net cancellations for old crop of 109,200 MT and sales of 345,000 MT for new crop giving a combined 235,800 MT - well below market expectations of 700 TMT-1.1 MMT.
Corn sales were in line with trade ideas of 150-350 TMT at 225,400 MT of old crop and 59,300 MT of new crop.
Soybean sales were disappointing, showing net cancellations for old crop of 109,200 MT and sales of 345,000 MT for new crop giving a combined 235,800 MT - well below market expectations of 700 TMT-1.1 MMT.
Corn sales were in line with trade ideas of 150-350 TMT at 225,400 MT of old crop and 59,300 MT of new crop.