Low export sales lower prices for wheat, soybeans and corn

Yesterday, quotes for wheat, soybeans and corn on the US stock exchanges actively declined against the background of low weekly export sales and the lack of support factors.

Data from the pro Farmer crop tour of soybean and corn fields in the United States indicate higher yields in major producing states and lower yields in western regions, which increases pressure on prices.

Export sales from the United States of old – crop corn for the week amounted to 216.5 thousand tons, and new-510 thousand tons, which was lower than the market expected.

The actual weekly export of corn for the first time this year was less than 1 million tons, and amounted to 829.2 thousand tons. the total export of corn from the United States two weeks before the end of the season is 65.41 million tons, against the USDA forecast of 70.5 million tons.

• December corn futures fell 2.4% to 2 216.5/ton yesterday, down 2.5% from last month's level.

Export sales from the United States of old-crop soybeans for the week amounted to 67.7 thousand tons, which was lower than traders ' expectations, but sales of the new crop increased to 2.141 million tons, of which 508 thousand tons were purchased by China.

In total, 13.865 million tons of new crop soybeans have already been sold, 41.4% of them to China.

• November soybean futures fell 2.7% to 4 485/ton yesterday, losing 5.3% over the month.

According to the weekly report of the USDA, wheat export sales for the week amounted to 306.7 thousand (with China being the largest buyer), and in general in the season reached 4.68 million tons. actual wheat exports for the week amounted to 591.8 thousand tons, and in general in the season – 4.335 million tons.

September US futures fell:

• by 3 3.58 / ton to Чикаго 267.1/ton for soft winter SRW wheat in Chicago,
• by 2 2.94 / ton to H 262.7/ton for hard winter HRW wheat in Kansas City,
• by 2 2.2/ton to.336.9 / ton for hard spring HRS wheat in Minneapolis.