Corn and wheat export sales disappoint, soybeans surpass expectations.

Weekly export sales were released today. This covers 12/23 – 12/29 activity. In yesterday's comments we noted the 400,000 – 1,000,000 expectation by the private trade was just too high. This was a Christmas week where the five year average is only 412,781 tonnes. 319,242 tonnes of current crop corn was sold last week. That was -23% vs. the five year average. The prior four weeks averaged -33% vs. normal.

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