Best new crop corn export sale in four years.

Weekly export sales today cover Fri 8/23 – Thu 8/29 activity. There are just two days left of data to complete the old crop marketing year. Year to date FAS corn shipments total 2.126 billion bushels. There is a five year average positive difference between FAS exports and WASDE exports. FAS does not cover all exports. This would imply a likely total of 2.235 or a little higher when all said and done. That would be lightly under USDA's current old crop hope of 2.250.

US and Brazilian export bids, after Brazil's shipping advantage, are near parity. Today's new crop corn sale was positive at 1,822,479 tonnes, +51% vs. the 1,204,633 five year average sale for that week. The estimate was 700,000 - 1,400,000. It was the best new crop sale for this week in four years. USDA's new crop export goal is +2% vs. the last five years of non-trade deal exports. Current new crop bookings are +16% vs. those years at this point. Overall, new crop corn bookings are ahead of target.

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