-Soybean sales at top of expectations – solid new crop sales reported
-Corn sales at top of expectations
-Wheat sales in upper portion of expectations
-SBM sales lower than expected/SBO sales higher than expected
NOTE: Due to travel schedules, this week’s post only contains our usual summary charts of export sales relative to market expectations.
A few comments, though: Old crop soybean sales activity included new net sales of 215k tonnes to China, but there were 191k tonnes in Chinese cancellations this week, as well as 596k tonnes in previously-reported unknown sales switched to China. There were also 128k tonnes in new crop soybean sales reported to China, as well as 185k tonnes to unknown. Corn saw no reported sales activity for China last week, while the largest sales went to unknown at 333k tonnes. Wheat saw 133k tonnes in sales to China (68k HRS/65k white), while the higher than expected soybean oil sales were led by 33k tonnes to unknown.
