Nine weeks of great corn sales.

Weekly export sales today cover Fri 6/7 – Thu 6/13 activity.

Including Brazil's shipping advantage export pricing is near parity with the US. We will note Ukraine's discount has widened back out in recent days.

Sales of 511,432 tonnes were reported. The trade estimate was 700,000 – 1,200,000. Though this week's sale did step down compared with recent weeks, it is still fantastic. This was the third best sale for this specific week in seven years. A much better than expected sales pattern has been in place for nine 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 -73% vs. the five year average. This week was +209% vs. the five year average. The nine week pattern has run +128%.

If the remaining sales through August run double the average, +100%, we'll exceed USDA's current goal by 113 million bushels. At even they would be +48 million bushels.

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