USDA Export Sales

Today's USDA weekly export sales report beat traders' forecasts for soybeans, corn and wheat. Old crop corn sales also included 230,000 MT for China.

Wheat sales came in at 720,600 MT against forecasts of 250,000 to 450,000 MT. Soybean sales were 308,300 MT old crop and 233,000 MT new crop against forecasts of 350,000 to 500,000 MT. Corn sales were 1,123,400 MT old crop and 332,300 MT new crop, against estimates of 650,000 MT to 1 MMT.

Unknown was the largest wheat buyer taking 244,500 MT. Japan took 442,300 MT of the old crop corn followed by China with 230,000 MT. Japan was the largest old crop soybean buyer with 146,600 MT, although China also took old (64,100 MT) and new crop (58,000 MT).