Corn

Export Inspections data showed 1.17 MMT (45.91 mbu) in corn shipments during the week that ended on August 15. That was more than double the same week last year and 18.24% above the previous week. Mexico was the top destination of 569,429 MT, with another 339,542 MT headed to Japan. Marketing year shipments have totaled 50.099 MMT (1.972 bbu) since September 1, 2023, which is 38.47% above the same time last year.

Corn prices surged strongly at the start of the week. The settlement price for the September Corn Contract on August 19 was 378 cents per bushel, an increase of 2.02% compared to the previous week's close.

Soybean

USDA reported private export sales of 2024/25 soybeans this morning, with 332,000 MT to Chin and 110,000 MT sold to unknown destinations. 

Soybean export inspections showed 398,233 MT (14.63 mbu) shipped during the week that ended on August 15. That was a 13.9% improvement on the week and 24.3% larger vs. last year. The top destination was Germany at 130,571 MT, with 60,497 MT headed to Egypt, as just 56,765 MT on its way to China. Accumulated shipments have totaled 43.78 MMT (1.609 bbu), which is 13.6% below the same period last year.

The September Soybean Contract also had a positive trading session at the start of the week. The settlement price on August 19 was 956.25 cents per bushel, up 1.86% from the previous week's close.

Wheat

Crop Progress data indicated 96% of the US winter wheat harvest was completed by August 18. The spring wheat harvest was tallied at 31% complete, behind the 36% average pace.

This morning’s Export Inspections report from USDA’s FGIS indicated 347,519 MT (12.769 mbu) of wheat shipped in the week that concluded on August 15. That was a sharp 47.88% decline from last week but 11.63% above the same week in 2023. Indonesia was the top destination for shipments at 133,328 MT, with Japan buying 85,985 MT. Accumulated exports for the marketing year have total 4.584 MMT (168.4 mbu), which is 25.93% larger than the same 2 ½ month period last year. 

The September Wheat Contract saw a decline. The settlement price on August 19 was 528.25 cents per bushel, down 0.33% compared to the previous week's close.

Source: Barchart