USDA Report Wheat Export Sales Three Times Higher Than Anticipated

The USDA have provided another friendly story for the wheat bulls reporting weekly export sales of 919,900 MT, sharply higher than expectations of 300-400,000 MT, and the best total in the past six weeks.

Corn sales same in at 432,300 MT for delivery in 2009/10 and 528,100 MT for delivery in 2010/11 - in line with expectations of 800,000-1,000,000 MT.

Soybean sales were a respectable 339,000 MT for delivery in 2009/10 plus a further 1,144,200 MT for delivery in 2010/11. That topped estimates of 900,000-1,050,000 MT. China bought 235,000 MT of the old crop and 459,000 MT of the new crop, a further 308,000 MT of new crop went to "unknown".