The latest data from the Department of Agriculture reveals that U.S. soybean exports for the week ended Jan. 25 have significantly underperformed analyst estimates. The total sales across the 2023/24 and 2024/25 marketing years amounted to only 165,800 metric tons, much lower than anticipated. This decline can be attributed to a reduction of 407,400 tons in previously announced sales to unknown destinations for 2023/24.
The shortfall in soybean sales comes as a surprise, as analysts surveyed by The Wall Street Journal had predicted that sales across both marketing years could range from 500,000 tons to 1.075 million tons.
On a positive note, net sales of corn managed to exceed expectations, reaching a total of 1.35 million tons for both marketing years. Wheat sales, on the other hand, remained within expectations at 338,000 tons across both years.
In the pre-market trading session, CBOT grains are experiencing a slight decline, with most-active corn down by 0.8%, soybeans down by 1.2%, and wheat down by 1.1%.
For more detailed information, you can search “U.S. Export Sales: Weekly Sales Totals” in Dow Jones NewsPlus.