Reported Weekly Soybean Sales a Marketing Year Low

news snip
news snip
(Commodity Update)

Soybeans

USDA reported net weekly soybean sales reductions of 160,000 MT for 2021-22, a marketing-year low but within trade expectations. Net sales for 2022-23 totaled 240,100 MT, primarily for “unknown destinations” and within expectations ranging from 100,000 to 300,000 MT.

Corn

USDA reported net weekly corn sales reductions of 66,600 MT for 2021-22, a marketing-year low and well under trade expectations for sales of 200,000 to 500,000 MT. Net sales for 2022-23 totaled 111,200 MT, down 36% from the average of 172,520 MT for the previous four weeks but within expectations ranging from zero to 300,000 MT.

Wheat

 

USDA reported net weekly wheat sales at 286,400 MT for 2022-23, down 31% from an average of 415,577 MT for the previous four weeks. Sales were at the low end of expectations ranging from 250,000 to 600,000 MT.

 

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