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Soybeans exceed export expectations

Photo by Dustin Hoffmann

The United States Department of Agriculture (USDA) today released its weekly export sales report.

Trade analysts anticipated soybean numbers between 900,000 to 2,000,000 metric tons, corn between 900,000 to 1,700,000 and wheat between 150,000 to 650,000.

Soybeans exceeded analyst expectations, coming in at 2.3 million metric tons, in combined old and new crop sales. Soybean exports were up roughly 33% from last week.

Corn and wheat both fell short of analyst expectations. Corn tallied in at 895,900 metric tons and wheat came in at 120,700 metric tons.

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