USDA Weekly Export Sales

16/05/13 -- The USDA's weekly export sales report gave us net sales of 15,300 MT of old crop soybeans along with 346,600 MT of new crop. In line with expectations for sales of a combined 2-600 TMT. Soybean shipments slowed to 167,600 MT. Even so, total commitments are 99.3% of the USDA target for the season, and 94% of that us already shipped.

Corn sales came in at 219,900 MT of old crop and a modest 38,600 MT of new crop, at the low end of trade forecasts for a combined 2-400 TMT. Shipments were so-so at 298,500 MT. The US now has 87.2% of the USDA target for the season on the books, with a third of that shipped so far.

Wheat sales were 125,000 MT of old crop and 415,600 MT of new crop versus trade forecasts of a combined 2-500 TMT. Actual shipments were a decent 726,800 MT as the end of the marketing year approaches. There's still 2.3 MMT worth of outstanding 2012/13 wheat sales however. Shipments plus outstanding sales total 26.8 MMT, or 95.7% of the USDA target for the Jun/May marketing year.