USDA reported corn sales of 511,400 MT for the week ended June 13, the lowest since the week ended April 11, though exports totaled 1.48 MMT during the week. Meanwhile, wheat and soyoil sales each topped expectations.
Soybeans inspected for export during the week ended June 13 rose 100,000 MT from the previous week, while wheat inspections rose modestly. Meanwhile, corn inspections were notable, but fell 54,000 MT on the week.
While falling short of pre-report expectations, both wheat and soymeal sales are running well ahead of year-ago. Meanwhile, soybean sales jumped 99% from the previous week and corn sales declined 11%.
USDA pegged winter wheat production at 1.875 billion bu., just below expectations along with new-crop wheat U.S. ending stocks. However, U.S. and global corn and soybean ending stocks were above pre-report estimates.
Corn, soybean and wheat export inspections during the week ended June 6, each notched a weekly decline, with soybean inspections marking the greatest drop, down 130,215 MT from the previous week.
Weekly corn inspections rose 244,000 MT from the previous week to 1.37 MMT during the week ended May 30, landing above pre-report expectations. Wheat and soybean inspections also rose on the week.
Weekly soybean sales during the week ended May 23 rose 18% from the previous week, though exports for the week slipped to a marketing-year low of 208,400 MT.
Weekly wheat inspections during the week ended May 23 rose 170,704 MT from the previous week, while corn inspections fell nearly 150,000 MT. Meanwhile, soybean inspections rose modestly on the week.
Soymeal sales during the week ended May 16 landed short of pre-report expectations and were down 52% from the previous week. Meanwhile, corn sales rose 23% from the previous week.
Weekly corn inspections during the week ended May 16 rose more than 200,000 MT from the previous week, while wheat and soybean inspections each fell notably on the week, missing pre-report estimates.
