Weekly export sales through week ended Oct. 6 revealed corn below expectations for the second straight week, with beans, wheat on the low end of pre-report estimates. However, bean sales continue to outpace last year.
USDA’s Oct. WASDE revealed an additional cut to the national soybean yield to 49.8 bu. per acre (bpa), while pre-report estimates averaged 50.5 bpa. The corn yield landed slightly above the average estimate at 171.9 bpa.
Weekly export inspections for week ended Oct. 6 reported corn, beans, and wheat within expectations, however corn and bean inspections are now notably behind last year’s, at 9.4% and 23% behind, respectively.
Weekly export sales data for week ended Sept. 29 proved uninspiring with corn over 120K MT short of expectations, while wheat was slightly above. Soybeans landed on the low end of pre-report estimates.
