Week's export sales report should be viewed as bearish for wheat and neutral for soybeans, corn and milo

OMAHA (DTN) -- This week's export sales report should be viewed as bearish for wheat and neutral for soybeans, corn and milo, according to DTN Analyst Todd Hultman.Weekly export sales of corn totaled 58.5 million bushels (mb) (1,486,700 metric tons) as of June 21 with 33.5 mb (849,900 mt) for the 2017-18 season. Total shipments plus outstanding sales in 2017-18 are now 2.254 bb, 3% more than the previous marketing year. Weekly export shipments of 58.3 mb put total marketing year shipments down 6% from a year ago. Thursday's report is neutral for corn, Hultman said.Weekly export sales of soybeans totaled 36.8 mb (1,000,800 mt) with 13.2 mb (358,500 mt) for the 2017-18 marketing year. Total shipments plus outstanding sales are now 2.087 bb, 4% less than a year ago. Weekly export shipments of 18.4 mb put total marketing year shipments down 7% from last year's total. Thursday's report is neutral for soybeans, Hultman said.Weekly export sales for all wheat totaled 20.7 mb (563,700 mt), all for the new 2018-19 season. Total shipments plus outstanding sales of 204 mb are 31% less than a year ago. Weekly wheat shipments of 13.1 mb put total shipments down 50% in 2018-19 from the previous year. Thursday's report remains bearish for wheat, Hultman said.Weekly export sales of grain sorghum (milo) showed no new export sales for 2017-18. Total shipments plus outstanding sales of 203 mb are up 16% from a year ago. No weekly export shipments either put the 2017-18 total up 19% from a year ago.