Unshipped Grain Export Sales Set Record
For the week ending October 29, outstanding (unshipped) export sales of corn, wheat, and soybeans reached a record 64 million metric tons (mmt.), the U.S. Department of Agriculture reports. That figure is up 2 percent from the previous week and almost triple the same time last year.
The increase in export sales was driven mainly by increased exports of corn and soybeans to China. Also, during the last four weeks, unshipped export sales averaged about 63 mmt., 160 percent above last year.
Total commitments of corn to China reached 10.8 mmt., compared to just 0.06 mmt. last year and the three-year average of 0.3 mmt. Total soybean commitments reached 26.8 mmt., more than triple (7.1 mmt.) the same time last year and 28 percent higher than the three-year average.