Grain Export Sales on Low Side of Expectations
June 17 2021 - 9:18AM
Dow Jones News
By Kirk Maltais
Export sales of U.S. grains across the board were low, falling
at the low end of grains traders' forecasts.
In the USDA's latest weekly export sales report released
Thursday, corn sales totaled 294,100 metric tons across both the
2020/21 and 2021/22 marketing years for the week ended June 10,
soybean sales totaled 71,800 tons, and wheat sales totaled 287,100
tons.
All three of these totals were at the low end of estimates from
grains traders surveyed by The Wall Street Journal this week.
However, the low sales may be only temporary, said Terry Reilly, a
senior agricultural analyst with Futures International.
"We look for sales to improve next week amid break in futures
prices," Mr. Reilly said.
Grains futures on the CBOT are lower in pre-market trading
Thursday, in response to new forecasts showing more rain coming to
Midwest growing areas. Corn futures are down 3.3% overnight, while
soybeans are down 2.4% and wheat is down 1.7%.
To see related data, search "U.S. Export Sales: Weekly Shipment
Totals" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
(END) Dow Jones Newswires
June 17, 2021 09:15 ET (13:15 GMT)
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