Corn export sales are on target.

Weekly export sales today cover Fri 2/16 – Thu 2/22 activity.

Sales of 1,082,328 tonnes were reported. The trade estimate was 600,000 – 1,200,000. USDA’s current 2.100 billion bushel goal for the year would be -2% from the five year average pace. Our year to date sales are -5% from average. To meet USDA’s goal remaining sales need to run +7% vs. the five year average. This week was +22%. We have an erratic six weeks that are running even with the five year average.

If sales run even with average we'll miss USDA's goal by -34 million bushels. If they are +10% we'll exceed USDA's hope by +17. For Friday's report we have no change vs. USDA on the balance sheet.

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