Seven weeks of strong corn export sales.

Weekly export sales today cover Fri 5/24 – Thu 5/30 activity.

Including Brazil's shipping advantage export pricing is near parity with the US. What has changed with pricing is Ukraine's significant discount has been narrowed to -$3 per tonne.

Sales of 1,180,938 tonnes were reported. The trade estimate was 600,000 – 1,200,000. This was the third best sale for this specific week in over 30 years. A much better than expected sales pattern has been in place for seven 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 even with the five year average. The remainder of the year normally holds minimal sales. To meet USDA’s goal remaining sales need to run -5% vs. the five year average. This week was +286% vs. the five year average. The seven week pattern has run +112%. For next week's report we are even with USDA's whole-year goal. In the coming weeks we may suggest a number higher than USDA.

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