Best new crop corn export sale in 14 years.

Weekly export sales today cover Fri 8/9 – Thu 8/15 activity. The US holds a very slight price advantage over Brazil after including shipping.

At this time of year, with only 2 weeks and 2 days left in the old crop marketing year our focus is on shipments rather than sales. USDA’s 2.250 billion bushel goal for the year would be +5% vs. the five year average pace. Our year to date shipments are +4% with the average. Remaining shipments need to run +45% vs. the average to meet USDA's current goal. This week was +59% vs. average. The prior four weeks were +33%. We will end the year near USDA's goal.

New crop corn sales were positive at 1,291,175 tonnes, more than double the 597,935 five year average. The estimate was 500,000 - 1,025,000. It was the best new crop sale for this week in 14 years. Overall, new crop corn bookings are on target.

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