Corn sales may have met USDA's whole-year hope already.

Weekly export sales today cover Fri 6/14 – Thu 6/20 activity. Including Brazil's shipping advantage export pricing is near parity with the US. Ukraine's discount is $12 per tonne.

Sales of 542,117 tonnes were reported. The trade estimate was 400,000 – 1,100,000. A much better than expected sales pattern has been in place for ten weeks.

USDA’s 2.150 billion bushel goal for the year would be even with the five year average pace. Our year to date sales are now +3% with the five year average. The remainder of the year normally holds minimal sales. To meet USDA’s goal remaining sales can fall to -108% vs. the five year average. This week was +61% vs. the five year average. The ten week pattern has run +123%.

The big thing for old crop corn sales is that we “may” have just met USDA's whole-year goal now. USDA's export view is 2.150 billion. In recent years we end up exporting more than is shown by the weekly FAS data series. This series does not include things like containers. It does not include donations. The five year average discrepancy is 53 million. That would put our needed sales at 2.097. Current year to date sales are 2.101.

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