Wheat Sales Rebound From Marketing Year Low

U.S. wheat sales increased to their highest point in six weeks, rebounding from last week’s marketing year low. Corn sales also increased to their highest level in seven weeks, although soybeans sales declined this past week. Wheat exports increased for the third consecutive week, reaching their highest level since October 2014. Corn exports also increased, but soybeans decreased to their second lowest level this marketing year.

Avian bird flu has arrived in full force in the U.S. infecting millions of birds. Iowa reported 5.3 million hens were “destroyed” after it was confirmed the flock was infected, reported the Associated Press earlier this week. The Center for Disease Control is currently working on a creating a vaccine.

Weekly net corn sales were 867,900 metric tons (MT), a 48% increase from last week and a 34% increase from the prior 10-week average. Increases were reported from Japan, Mexico, Colombia, and Saudi Arabia. Decreases were reported from unknown destinations, Guatemala, the Dominican Republic, and Honduras. Exports were 1,041,100 MT, a 20% increase from last week and a 13% increase from the prior 10-week average. The primary destinations were Japan, Mexico, Saudi Arabia, and South Korea.

Weekly net soybean sales were 102,100 MT, a 67% decrease from last week and a 57% decrease from the prior 10-week average. Increases were reported from China, Mexico, Japan, and Morocco. Decreases were reported from Vietnam, unknown destinations, Israel, and Thailand. Exports were 155,900 MT, a 72% decrease from last week and an 82% decrease from the prior 10-week average. Primary destinations were Mexico, China, Indonesia, and Taiwan.

Weekly net wheat sales were 397,500 MT, a 730% increase from last week and a 35% increase from the prior 10-week average. Increases were reported from South Korea, Japan, the Philippines, Taiwan, and Mexico. Decreases were reported from Ecuador and Tunisia. Exports were 557,300 MT, a 45% increase from last week and a 31% increase from the prior 10-week average. Primary destinations were Mexico, Japan, Thailand, the Philippines, and South Korea.