Four weeks of improved corn export sales.

Weekly export sales today cover Fri 5/3 – Thu 5/9 activity.

Including Brazil's shipping advantage they are now cheaper than the US.

Sales of 742,177 tonnes were reported. It continues now four weeks of better than expected sales. The trade estimate was 700,000 – 1,050,000.

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 -3% from average. To meet USDA’s goal remaining sales need to run +56% vs. the five year average. We now have four weeks that have run +78% vs. normal. While this would easily correct the current sales deficit if it continues through August, we have doubts. If sales “improve” to even with last year we'll miss USDA's goal by 70 million bushels. If they improve to +20% the miss is 45 million bushels.