Corn sales surge, more is needed though.

Weekly export sales today cover Fri 4/12 – Thu 4/18 activity.

Sales of 1,299,943 tonnes were reported. The trade estimate was 400,000 – 900,000. It was the best sale in 10 weeks. It was also the best sale for this specific week in 14 years.

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 -7% from average. To meet USDA’s goal remaining sales need to run +31% vs. the five year average. This week was oddly strong at +115%. If sales “improve” to even with last year we'll miss USDA's goal by 56 million bushels. While this week was a positive one we continue to hold concern over a likely revision lower in the months ahead.

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