OMAHA (DTN) -- This week's export sales report should be viewed as bearish for wheat and corn, neutral-to-bearish for soybeans, and neutral for sorghum, according to DTN Senior Analyst Darin Newsom.
Weekly export sales for all wheat showed a total of 16.1 mb (437,200 mt) with 13.3 mb (362,000 mt) for the 2015-2016 marketing year. Total sales for 2015-2016 were 603.2 mb, or 15% behind last year's 712.6 mb for the same week. USDA is projecting a year-to-year decrease of only 6%. Weekly shipments of 9.5 mb (257,700 mt) put the marketing year total at 448.1 mb, or 15% behind last year's 514.3 mb. Marketing year totals could continue to be viewed as bearish, Newsom said.
Weekly export sales of corn showed a total of 53.0 mb (1,346,700 mt) with 45.6 mb (1,157,700 mt) for the 2015-2016 marketing year. Total sales for 2015-2016 were 877.1 mb, 27% behind last year's 1.195 bb for the same week. USDA's is projecting a year-to-year decrease of 9%. Weekly shipments of 22.5 mb (571,600 mt) put the marketing year total at 417.7 mb, or 23% behind last year's 542.4 mb. Marketing year totals remain bearish, Newsom said.
Weekly export sales of grain sorghum (milo) showed a total of 8.3 mb (210,700 mt) with all for the 2015-2016 marketing year. Total sales for 2015-2016 were 223.5 mb, 14% behind last year's 260.4 mb for the same week. USDA is projecting a year-to-year decrease of 8%. Weekly shipments of 4.2 mb (105,700 mt) put the marketing year total at 150.6 mb, or 35% ahead of last year's 111.9 mb. Marketing year totals could be viewed as neutral, Newsom said.
Weekly export sales of soybeans showed a total of 37.2 mb (1,012,200 mt) with 36.2 mb (985,100 mt) for the 2015-2016 marketing year. Total sales for 2015-2016 were 1.475 bb, or 9% behind last year's 1.624 bb for the same week. USDA is projecting a year-to-year decrease of 8%. Weekly shipments of 57.9 mb (1,575,100 mt) put the marketing year total at 1.104 bb, or 9% behind last year's 1.208 bb. Marketing year totals could be viewed as neutral-to-bearish, Newsom said.