USDA Weekly Export Sales
22/12/11 -- The USDA's weekly export sales came in better than expected for corn and beans and in line with trade estimates for wheat.Corn sales were 715,000 MT for 2011/12 plus a further 238,000 MT for delivery in 2012/13 compared to the expected 450-650,000 MT. There was one sale to China in amongst the 2011/12 volume. In addition weekly shipments of 1,300,800 MT were a marketing-year high.
Soybean sales were 653,400 MT for 2011/12 and 75,000 MT for 2012/13 against the anticipated 400-600,000 MT. Exports of 934,200 MT were primarily to China (599,400 MT).
Wheat sales of 362,300 MT were in line with the expected 300-450,000 MT. Shipments were only 399,900 MT - down 26 percent from the previous week. Exports need to be 427,400 MT/week to reach the USDA's 2011/12 export target of 24.5 MMT.
