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Weekly Export Sales: Still tracking December results

USDA data continues to come in slow following partial government shutdown.

After the partial federal government shutdown that lasted more than a month from late December through January, USDA has resumed its weekly export sales report, releasing data that is still several weeks behind. Grain markets largely ignored this morning’s report, but prices shifted slightly lower in its wake.

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Corn exports for the week ending December 27 tallied just 19.8 million bushels in a slow holiday week, down substantially from the prior week’s tally of 66.9 million bushels. Top destinations included Mexico, Peru, Colombia and South Korea. The weekly rate needed to match USDA forecasts moved higher, to 34.2 million bushels.

Corn export shipments fared better the last week of December, reaching 39.6 million bushels, but still hovered 1% below the prior four-week average. Mexico was the No. 1 destination, with 10.3 million bushels, followed by Colombia, South Korea, Peru and Japan.

Soybean export sales for the last full week in December tallied 38.8 million bushels, coming in less than half of the prior week’s total of 87.9 million bushels and 39% below the prior four-week average. The weekly rate needed to meet USDA forecast moved down to 21.8 million bushels.

Soybean export shipments of 33.8 million bushels boosted 50% above the prior week but still came in 14% below the prior four-week average. Spain was the No. 1 destination, with 6.3 million bushels, followed by Bangladesh, Mexico, the Netherlands and Belgium.

Wheat export sales topped 21.8 million bushels for the week ending December 27, up slightly from the prior week’s tally of 19.3 million bushels and staying 3% ahead of the prior four-week average. The weekly rate needed to match USDA forecasts moved slightly lower to a manageable 15.6 million bushels.

Wheat export shipments were for 15.9 million bushels for the same week, moving 13% below the prior week’s total and 19% below the prior four-week average. Japan was the No. 1 destination, with 2.4 million bushels, followed closely by Mexico’s 2.3 million bushels. Other top destinations included South Korea, Taiwan and Guatemala.

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