Old crop and new crop corn export data is on target.

Weekly export sales today cover Fri 7/19 – Thu 7/25 activity. The US holds a very slight price advantage over Brazil after including shipping. Positive, with Ukraine's light corn crop declines, their discount has been sharply reduced.

Sales of 485,447 tonnes were reported. The trade estimate was 100,000 – 400,000.

At this time of year, with only 4 weeks and 2 days left in the old crop marketing year our focus is on shipments rather than sales. USDA’s 2.225 billion bushel goal for the year would be +4% vs. the five year average pace. Our year to date shipments are +3% with the average. Remaining sales need to run +23% vs. the average to meet USDA's current goal. This week was +47% vs. average. The most recent four weeks now run +36%. We will end the year near USDA's goal.

New crop corn sales were low at 249,062 tonnes, much under the 846,448 five year average. But that average includes a big 2.600 million tonne buy during the trade deal. The other four years average 408,184. This is not the major time for US new crop sales anyway, unlike soybeans. Additionally, overall new crop corn bookings are on target.

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