Wheat has again been under pressure today, falling back further from the recent peak. Weekly US export sales have however been positive for wheat, corn and soybeans which continue to maintain value and test new contract highs.

Wheat

US weekly wheat export sales reached a marketing year high last week, totalling 676.7kt. Exports of 360.9Kt were however down 8% from the previous week, but still up 21% from the prior 4-week average.

Corn

Net sales of 1.4Mt for 2021/2022 were up 29% from the previous week and 84% from the prior 4-week average. Exports of 1.4Mt–a marketing-year high–were up 11% from the previous week and 36% from the prior 4-week average. 

Soybeans

Net sales of 1Mt for 2021/2022 were up 53% from the previous week and 77% from the prior 4-week average.  Increases primarily for China (540Kt). Exports of 1.6Mt were down 12% from the previous week, but up 1% from the prior 4-week average.