U.S. Grain Export Sales Miss Forecasts
January 05 2024 - 8:40AM
Dow Jones News
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
January 05, 2024 09:25 ET (14:25 GMT)
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