U.S. Grain Export Sales Surpass Analyst Predictions

by Warren Seah

The latest data from the U.S. Department of Agriculture reveals that export sales of U.S. grains have shown an increase compared to the previous week, surpassing the expectations of analysts surveyed by The Wall Street Journal.

Soybean Sales

During the week ended June 29, soybean sales for the marketing years 2022/23 to 2023/24 reached a total of 780,600 metric tons. This exceeds the analysts’ forecast range of 200,000 tons to 700,000 tons.

Wheat Sales

The USDA reported that wheat sales for the marketing year 2023/24 amounted to 405,800 metric tons, surpassing the forecast range of 100,000 tons to 400,000 tons.

Corn Sales

Corn sales also exceeded analyst predictions, totaling 669,700 metric tons across the marketing years 2022/23 and 2023/24, surpassing the expected range of 200,000 tons to 600,000 tons.

Additionally, the USDA has announced a flash sale of 180,000 metric tons of corn for delivery across the marketing years 2022/23 and 2023/24.

In pre-market trading, grain futures on the Chicago Board of Trade indicate a decline. The most-active corn futures are down by 0.7%, soybeans by 0.6%, and wheat by 1.6%.

For more detailed data, refer to “U.S. Export Sales: Weekly Sales Totals” in Dow Jones NewsPlus.

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