By Kirk Maltais
Export sales of U.S. grains for the week ended Dec. 28 missed the low end of forecasts from analysts surveyed by The Wall Street Journal this week.
In its weekly export sales report, the U.S. Department of Agriculture reported that export sales of U.S. wheat totaled 135,900 metric tons across the 2023/24 and 2024/25 marketing years, while corn sales totaled 367,300 tons, and soybean sales totaled 202,200 tons. All three missed forecasts, and were down considerably from last week's sales.
Analysts surveyed this week forecast wheat sales to land 150,000 tons to 375,000 tons, while corn was expected between 450,000 tons and 1.13 million tons and soybeans were seen landing between 300,000 tons and 1.15 million tons.
China was the leading buyer for U.S. wheat for the week, while Mexico was the leading buyer of corn and Spain was the leading buyer of soybeans.
Grain futures trading on the CBOT have been trading lower due to improved weather prospects in South America. That decline continues in pre-market trading today, with most-active corn futures down 0.3%, soybeans down 0.6%, and wheat unchanged.
To see related data, search "U.S. Export Sales: Weekly Sales Totals" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
(END) Dow Jones Newswires
01-05-24 0925ET
