Soybeans down 17¢ at midday. Thursday, February 1, 2024
March corn is down 2½¢ at midday.
March soybeans are down 17¾¢.
CBOT wheat is up 5¢. KC wheat is down less than a penny. Minneapolis wheat is up 4½¢.
This morning USDA released the weekly Export Sales report. The report says net corn export sales for the week ending Jan. 25 totaled 1,206,700 metric tons for 2023/2024, up 26% from the previous week and 58% from the prior four-week average. This is near the top end of the range today’s number was expected to fall within.
Soybean export sales were pegged at 164,500 metric tons for 2023/2024. USDA says this is a marketing-year low and down 71% from the previous week and 64% from the prior four-week average. This is below expectations.
Net wheat export sales were pegged at 322,500 metric tons for 2023/2024, down 29% from the previous week and 9% from the prior four-week average, according to USDA. This is near the low end of the expected range.
USDA also announced a new export sale to Mexico this morning. Mexico is buying 206,834 metric tons of soybeans for delivery during the 2023/2024 marketing year.
Crude oil is up 95¢.
The U.S. Dollar Index March contract is down to 102.88.
S&P 500 futures are up 38 points. Dow futures are up 205 points.
Read also
Ukraine’s harvest is coming to an end: corn production exceeds 24 mln tons
Turkey sold 150 thsd tons of barley at tender
Export demand for soybeans in Ukraine is recovering, but prices remain under press...
Join agri leaders of the Black Sea & Danube region at the 22 International Co...
Poland Builds a Record Grain Stash to Safeguard Food Supplies
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon