Corn Passes Over Positive Export Sales

Weekly export sales were released today. This covers 1/27 – 2/2 activity. 1,160,280 tonnes of current crop corn was sold last week. That was within the 600,000 – 1,200,000 expectation. This was positive at -3% vs. the five year average. The prior four weeks averaged -23% vs. normal. To hit USDA’s goal sales through August need to run +22% vs. normal. If sales improve to -20% vs. average we’ll miss USDA’s goal by 282 million bushels. If they improve to even we’ll miss their goal by 147 million.

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