- Wednesday, October 16, 2024
Date: September 28, 2023
The Department of Agriculture has reported the latest corn export sales, which showed an expected rise in weekly sales. However, the increase was not as significant as some analysts had predicted.
In the week ending September 28, corn sales for the 2023/24 season amounted to 1.82 million tons, representing an increase of approximately 1 million tons compared to the previous week. The surge in sales can be attributed to new deals with Mexico, accounting for 1.15 million tons of the total.
Analysts surveyed by The Wall Street Journal estimated that corn exports could reach as high as 3.15 million tons, surpassing the actual figures.
In contrast, wheat sales fell slightly short of expectations, totaling 273,100 tons. On the other hand, soybean sales exceeded forecasts, reaching 808,500 tons.
As of today's premarket trading on the Chicago Board of Trade (CBOT), grain futures are mostly down. Corn futures are down by 0.4%, soybeans by 0.6%, while wheat is slightly up by 0.1%.
For more detailed information, please refer to the "U.S. Export Sales: Weekly Sales Totals" section on Dow Jones NewsPlus.
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