USDA Weekly Export Sales
The USDA released their weekly export sales report at 13.30BST. Here's a note of the numbers with trade expectations in brackets:
Wheat: 366,900MT (100-500,000MT)
Corn: 846,800MT (400-800,000MT)
Soybeans: 143,100MT (50-400,000MT)
Soymeal: 75,900MT (25-155,000MT)
Soyoil: -19,000MT (0-10,000MT)
Figures are for both the 07/08 and 08/09 marketing year combined. It is worthy of note that soybean sales for 07/08 were negative 193,300MT, largely due to cancellations of 240,000MT from China. Soyoil sales were also negative. This may add a bearish vibe to tonights trade and may again prompt further unwinding of oil/meal and beans/meal spreads making meal the strongest leg of the complex as has been a feature recently.
Wheat: 366,900MT (100-500,000MT)
Corn: 846,800MT (400-800,000MT)
Soybeans: 143,100MT (50-400,000MT)
Soymeal: 75,900MT (25-155,000MT)
Soyoil: -19,000MT (0-10,000MT)
Figures are for both the 07/08 and 08/09 marketing year combined. It is worthy of note that soybean sales for 07/08 were negative 193,300MT, largely due to cancellations of 240,000MT from China. Soyoil sales were also negative. This may add a bearish vibe to tonights trade and may again prompt further unwinding of oil/meal and beans/meal spreads making meal the strongest leg of the complex as has been a feature recently.
