USDA’s latest set of grain export sales data, out Thursday morning and covering the week through May 2, didn’t have a lot of surprises for traders to uncover. Corn sales once again led the way and were mostly solid after improving 17% week-over-week. Soybean sales also saw modest increases, while wheat found rangebound results.

Corn exports found 36.9 million bushels in combined old and new crop sales. Old crop sales were 23% above the prior four-week average, and total sales were near the middle of analyst estimates, which ranged between 23.6 million and 49.2 million bushels. Cumulative sales for the 2023/24 marketing year are still tracking moderately above last year’s pace so far after reaching 1.356 billion bushels.

Corn export shipments slid 21% below the prior four-week average, with 48.5 million bushels. Mexico, Japan, Saudi Arabia, Colombia and China were the top five destinations.

Sorghum exports were noticeably above the prior four-week average after reaching 2.4 million bushels. Increases to China were partially offset by reductions to unknown destinations. Cumulative sales for the 2023/24 marketing year are still more than tripling last year’s pace, with 176.6 million bushels.

Soybean exports reached 15.9 million bushels in combined old and new crop sales last week. Old crop sales trended 21% above the prior week average, and total sales were near the middle of analyst estimates, which ranged between 9.2 million and 25.7 million bushels. Cumulative sales for the 2023/24 marketing year remain moderately below last year’s pace, with 1.421 billion bushels.

Soybean export shipments were 27% below the prior four-week average, with 11.2 million bushels. China, Egypt, Mexico, Indonesia and Japan were the top five destinations.

Old crop wheat sales slumped noticeably lower week-over-week, but new crop sales brought total volume up to 16.4 million bushels. Combined sales were near the middle of analyst estimates, which ranged between 3.7 million and 25.7 million bushels. Cumulative sales for the 2023/24 marketing year are still slightly above last year’s pace, with 627.3 million bushels.

Wheat export shipments shifted 39% below the prior four-week average, with 12.4 million bushels. The Philippines, Mexico, China, South Korea and Brazil were the top five destinations.

Click here for more highlights from the latest UDSA export sales report.