In the latest report from the U.S. Department of Agriculture (USDA), weekly export sales of U.S. grains were in line with trader expectations.
Wheat Sales Surge to 1.49 Million Metric Tons
During the week ended December 7, 2023, wheat export sales reached an impressive 1.49 million metric tons for the 2023/24 marketing year. This figure surpassed the previous week’s sales of 356,400 tons by a significant margin. The USDA also highlighted a series of flash export sales to China earlier this month.
Soybean and Corn Sales Maintain Steady Pace
Soybean sales for the same period amounted to 1.08 million tons, while corn sales stood at 1.42 million tons. Both crops maintained a steady pace of export sales.
Grain Futures Rally Ahead of Market Opening
In premarket trading on the Chicago Board of Trade (CBOT) Thursday, grain futures saw mostly positive movements. Wheat prices led the way with a notable gain of 1.3%, followed by a 0.7% rise in corn futures and a 0.4% increase in soybean prices.
For further data and insights, search “U.S. Export Sales: Weekly Sales Totals” in Dow Jones NewsPlus.