Corn sees record export sales last week.

Today's report covers activity from 10/4 - 10/10. Corn export sales this past week were huge at 2,225,716  tonnes. The trade estimate was 1,200,000 - 2,200,000. This was a record sale for that specific week in history. The prior record was 1,922,827 from 10 years ago. There were a large 858,928 tonnes in overnight export sales that applied to this week.

When including Brazil's shipping advantage US corn is evenly priced vs. Brazil.

USDA's current goal for the year is 2.325 billion bushels. That would be +6% vs. the prior five year average. Year to date sales are +6% from the five year average. To meet USDA's current goal the remainder of the year would need to run +5%. Today's sale was incredible at +254% vs. average. The prior four weeks were also positive, +21%. Our starting bias is for final exports to meet or likely exceed USDA's current view.

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