Corn shipments running slightly ahead of USDA's goal.

Weekly export sales today cover Fri 7/12 – Thu 7/18 activity. For near term delivery, with shipping included, the US and Brazil are near parity. For new crop the US has an advantage.

Sales of 331,380 tonnes were reported. The trade estimate was 200,000 – 700,000.

At this time of year, with only 6 weeks and 2 days left in the old crop marketing year our focus is on shipments rather than sales. USDA’s 2.225 billion bushel goal for the year would be +4% vx. the five year average pace. Our year to date shipments are +1% with the average. Remaining sales need to run +26% vs. the average to meet USDA's current goal. That appears attainable with this week's +47% shipment and last week's +32%. We may meet or slightly exceed USDA's goal.

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