USDA’s latest set of grain export sales data, out Thursday morning and covering the week through April 18, held mixed but mostly bullish data for traders to digest. Corn volume was the most impressive after jumping ahead of the entire set of analyst estimates. Wheat totals were also solid, while soybean sales were mostly lackluster.

Corn exports reached 61.5 million bushels in combined old and new crop sales last week. Old crop sales climbed 74% above the prior four-week average. Total sales were better than all trade guesses, which ranged between 16.7 million and 49.2 million bushels. Cumulative sales for the 2023/24 marketing year remain moderately ahead of last year’s pace so far after reaching 1.253 billion bushels.

Corn export shipments carved out a new marketing-year high after improving 14% above the prior four-week average and reaching 67.3 million bushels. Mexico, Japan, Colombia, Taiwan and South Korea were the top five destinations.

Sorghum export sales shifted 64% above the prior four-week average but only reached 1.5 million bushels. The grain is for shipment to unknown destinations and China. Cumulative totals for the 2023/24 marketing year are still noticeably above last year’s pace so far, with 168.2 million bushels.

Soybean exports only found 12.2 million bushels in combined old and new crop sales last week. That was on the very low end of analyst estimates, which ranged between 11.0 million and 33.1 million bushels. Cumulative sales for the 2023/24 marketing year are still moderately lower than last year’s pace, with 1.400 billion bushels.

Soybean export shipments faded 26% below the prior four-week average, with 15.3 million bushels. China, Indonesia, Mexico, Colombia and Taiwan were the top five destinations.

Wheat exports moved to 16.7 million bushels of combined old and new crop sales last week. Old crop sales eased 4% below the prior four-week average. Total sales landed on the higher end of analyst estimates, which ranged between zero and 18.4 million bushels. Cumulative sales for the 2023/24 marketing year are now slightly higher than last year’s pace, with 596.2 million bushels.

Wheat export shipments trended 13% higher than the prior four-week average after reaching 21.1 million bushels. China, the Philippines, Japan, Mexico and the Dominican Republic were the top five destinations.

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