October 8, 2003
Brief Overview on US' Wheat, Corn & Soymeal Sales
US' export sales totals for this week look good across the board, with a lot more soybeans sold than the trade was expecting. Wheat sales also exceeded expectations, and corn sales were at the top end of trade guesses.
In total, soybean sales traded almost 26 million bushels, with another 2.2 m bu in sales for 04/05. Principal buyers included Mexico, China, Japan and Indonesia.
Wheat sales totalled 28 m bu, with increases for Egypt, Jordan, unknown, Italy, South Korea, Taiwan and Algeria.
Corn sales totalled 36.1 m bu, down a third from the previous week, but it is still more than many analysts had forecast. Major increases came from Japan, Egypt, Taiwan, Mexico, Jordan and Colombia.
Soymeal sales were also quite strong, at 32,800 tons of 2002/03 business and 219,500 tons for the new crop year that began October 1.