USDA Weekly Export Sales Report

The USDA issued it's usual weekly export sales report at 13.30BST today. Here's a note of what they had to says versus what was expected:

Corn 402,800MT vs expectations of 300/800,000MT

Wheat 498,400MT (vs 300/550,000MT)

Soybeans (old crop) -268,100MT (vs -350/+150,000MT)

Soybeans (new crop) 2,289,000MT (vs 2,240/2,500,000MT)

Soymeal 73,000MT (vs 75/175,000MT)

Soyoil 20,300MT (vs 0-10,000MT)

Old crop corn sales of 231,300 MT were a marketing-year low, down 33 percent from the previous week and 51 percent from the prior 4-week average.

The figures are viewed as bearish corn and soymeal, neutral soybeans and wheat, and bullish soyoil.