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Weekly export sales for soybeans were reported at 360,100 MT (13,231,406 bushels) for 2023/2024 were up 73 percent from the previous week and 13 percent from the prior 4-week average. This was within the range of expectations. Net sales of 375,000 MT (13,778,887 bushels) for 2024/2025. This was within the range of expectations.
On top of better than expected weekly exports, private exporters announced a flash sale to the tune of 510,000 metric tons of soybeans for delivery to unknown destinations during the 2024/2025 marketing year. There was also a sale of 150,000 metric tons of soybean cake and meal for delivery to unknown destinations during the 2024/2025 marketing year. These were the first flash sales since July 10th, which was a sale of 132,000 MT of soybeans for delivery to China during the 2024/2025 marketing year.
Looking at the corn market, futures continue to be a stick in the mud trading within a 10-cent range for the better part of the last week and a half, 403 on the downside and 413 on the upside. A break and close above or below these levels could spark new direction (other than sideways). Export sales for corn were not as friendly, coming in at 437,800 MT (17,235,419 bushels) for 2023/2024, this was down 19 percent from the previous week and 10 percent from the prior 4-week average. This was below the low end of expectations. Net sales of 485,700 MT (19,121,159 bushels) for 2024/2025. This was above the top end of expectations.
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