Exports Mostly Within Estimates
Corn, soybeans, and wheat within pre-report expectations; soybean meal and oil above estimates
USDA’s export sales report for the week ending July 28 shows corn, soybeans, and wheat within pre-report expectations with soybean meal and oil above estimates. Physical shipments of corn, soybeans and wheat were less than what’s needed weekly to meet USDA projections for their respective marketing years.
Wheat came out at 499,600 tons (18.4 million bushels), up 5% from the week ending July 21 and 14% higher than the four week average. Japan was the leading buyer at 117,300 tons. At this point in the 2011/12 marketing year, wheat sales are 388,000 tons, compared to 339,500 in 2010/11. Sales of 4,500 tons (200,000 bushels) for 2012/13 delivery were to the Leeward Windward Islands.
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