Five weeks of improvement in corn export sales.

Weekly export sales today cover Fri 5/10 – Thu 5/16 activity.

Including Brazil's shipping advantage export pricing is near parity with the US.

Sales of 911,151 tonnes were reported. The trade estimate was 500,000 – 1,200,000. This was the best sale for this week in eight years. A better than expected sales pattern has been in place for five weeks.

USDA’s newly raised 2.150 billion bushel goal for the year would be even with the five year average pace. Our year to date sales are -2% from average. To meet USDA’s goal remaining sales need to run +42% vs. the five year average. This week was +171% over the five year average. The recent pace would suggest we will meet USDA. We have doubts. If sales “improve” to even with last year we'll miss USDA's goal by 47 million bushels. If they improve to +20% the miss is 25 million bushels.

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