Grain Export Sales on Low Side of Expectations

By Kirk Maltais

Export sales of U.S. grains across the board were low, falling at the low end of grains traders' forecasts.

In the USDA's latest weekly export sales report released Thursday, corn sales totaled 294,100 metric tons across both the 2020/21 and 2021/22 marketing years for the week ended June 10, soybean sales totaled 71,800 tons, and wheat sales totaled 287,100 tons.

All three of these totals were at the low end of estimates from grains traders surveyed by The Wall Street Journal this week. However, the low sales may be only temporary, said Terry Reilly, a senior agricultural analyst with Futures International.

"We look for sales to improve next week amid break in futures prices," Mr. Reilly said.

Grains futures on the CBOT are lower in pre-market trading Thursday, in response to new forecasts showing more rain coming to Midwest growing areas. Corn futures are down 3.3% overnight, while soybeans are down 2.4% and wheat is down 1.7%.

To see related data, search "U.S. Export Sales: Weekly Shipment Totals" in Dow Jones NewsPlus.

Write to Kirk Maltais at [e-mail]

(END) Dow Jones Newswires

06-17-21 0915ET