USDA Weekly Export Sales
For the period October 16-22, the USDA report the following weekly export sales:
Wheat
Net old crop sales of 347,700 MT were mainly for Taiwan (73,900 MT), Japan (72,800 MT), Thailand (45,000 MT) and Nigeria (43,900 MT. Mexico bought 18,000 MT for delivery in 2010/11. Estimates for export sales report ranged from 400,000 to 600,000 MT. Exports for the week were 430,800 MT.
Corn
Net sales of 367,200 MT were mainly for for Mexico (90,300 MT), the Dominican Republic (74,000 MT), South Korea (56,200 MT), Peru (41,600 MT) and Taiwan (35,800 MT. Estimates for export sales report ranged from 600,000 and 800,000 MT. Exports for the week were 667,000 MT.
Soybeans
Net sales of 691,000 MT were mostly for for China (437,000 MT). Taiwan (70,700 MT), Mexico (41,800 MT), unknown destinations (37,500 MT), Egypt (29,700 MT), Japan (21,000 MT), and Cuba (16,000 MT) were the other takers. Estimates for export sales report ranged from 400,000 to 600,000 MT. Exports for the week were a rather large 1,433,600 MT with China accounting for a monstrous 1,018,500 MT of that.
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.
USDA Weekly Export Sales Report Expectations
The USDA issue it's usual weekly export sales report at 13.30BST today. here's a note of what is expected:
Corn 300/800,000MT
Wheat 300/550,000MT
Soybeans (old crop) -350/+150,000MT
Soybeans (new crop) 2,240/2,500,000MT
Soymeal 75/175,000MT
Soyoil 0-10,000MT
* At first glance the soybeans new-crop figure seems amazingly high, I thought it could be a misprint, but on checking it out it is indeed correct. They are anticipating an unusually high figure due to some previously unreported sales "lost" in the daily reporting system all coming through in this report. It sounds to me a bit like the girl in soybean accounts has left & they've prised open her drawer only to discover a load of export sales sheets that she hasn't put on the computer! So Doris, the reliable one, has busily been entering these up all week. Good old Doris.
