Weekly Grain Export Sales Mixed
Wheat, Soy Exports Neutral to Bearish, Corn Bearish, Milo Neutral to Bullish
OMAHA (DTN) -- This week's export sales report should be viewed as neutral to bearish for wheat and soybeans, bearish for corn and neutral to bullish for milo, according to DTN Senior Analyst Darin Newsom.
Weekly export sales for all wheat showed a total of 12.8 mb (347,800 mt), with all for the 2017-2018 marketing year. This puts total marketing year sales at 569.9 mb, 5% below the previous marketing year. Weekly shipments of 13.9 mb (378,000 mt) put the marketing year total at 386.4 mb, 5% below the previous year. The total numbers could be viewed as neutral to bearish for wheat, Newsom said.
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Weekly export sales of corn showed a total of 35.5 mb (901,400 mt) with 31.9 mb (811,400 mt) for the 2017-2018 marketing year. This put total marketing year sales at 670.4 mb, 31% less than the previous marketing year. Weekly export shipments of 23.6 mb (598,200 mt) put total marketing year shipments at 206.3 mb, 41% less than the previous year. The total numbers could be viewed as bearish for corn, Newsom said.
Weekly export sales of soybeans showed a total of 72.8 mb (1,982,200 mt), with 72.3 mb (1,967,000 mt) for the 2017-2018 marketing year. This put total marketing year sales at 1.116 bb, 16% less than the previous marketing year. Weekly export shipments of 98.8 mb (2,687,900 mt) put total marketing year shipments at 450.2 mb, 8% below what was reported the previous year. The total numbers could be viewed as netural to bearish for soybeans, Newsom said.
Weekly export sales of grain sorghum (milo) showed a total of 11.2 mb (284,000 mt) with all for the 2017-2018 marketing year. This put total marketing year sales at 69.8 mb, 21% more the previous marketing year. Weekly export shipments of 0.1 mb (2,300 mt) put total marketing year shipments at 18.6 mb, even with what was reported the previous year. The total numbers could be viewed as neutral to bullish for milo, Newsom said.
Darin Newsom can be reached at darin.newsom@dtn.com
Follow Darin Newsom on Twitter @DarinNewsom
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