(Farm Futures) – Export sales of 2014/2015 U.S. corn, soybeans and wheat were up from the previous week, USDA’s weekly export report showed on Thursday, with sales of all three within trade expectations.
Soybean sales totaled 94.3 million bushels. China bought nearly 88 million bushels, much of which been published by USDA’s daily reporting system. While China has been buying a huge amount of soybeans in recent weeks, sales as of Sept. 18 still trailed last year’s pace.
In addition, USDA on Thursday said China bought nearly 4.23 million bushels of soybeans, which will be included in next week’s weekly report.
The weekly exports appeared to have a minor effect on Chicago grain futures, although November soybeans dropped about 1 cent after the numbers landed.
Corn sales of 32.9 million bushels were up from last week and were led by Mexico, Japan and Peru. Mexico also bought 10.63 million of 2015/2016 corn. In daily reporting on Thursday, USDA said Nigeria bought 4.72 million, which will be included in the next weekly tally.
Weekly wheat export sales were up 26% from the previous week at 14.56 million bushels, which matched the trade estimates in a Reuters’ survey. Brazil, Mexico and Japan were leading buyers.
Net weekly sales of 2013/2014 soymeal were 35,200 metric tons with Mexico, Canada and the Philippines the leading buyers. Sales of 2014/2015 soymeal were a net 45,500 metric tons and led by Canada and Nicaragua.
The marketing year for soybean meal begins October 1.
