USDA weekly exports sales - wheat disappoints

In it's regular weekly export sales report the USDA cited wheat sales well below trade expectations at 308,400 MT (129,200 MT 2007-08 and 179,200 MT new crop 2008-09). This was well under trade estimates of 450,000 - 750,000MT.

Soybean sales at 408,200MT (all 2007-08) were in line with expectations of 200,000 - 500,000MT.

Corn sales were 922,400MT (almost all 2007-08), compared with expectations of 600,000 - 900,000MT.