Corn and wheat US weekly exports top estimates as beans disappoint

US exports of corn and wheat ending March 15 came in at the top of analyst expectations, according to USDA data published Monday, with corn totalling 1.4 million mt and wheat 443,000 mt.

That compared with analyst expectations in the region of 1.2-1.5 million mt for corn and 325,000-450,000 mt for wheat.

Around two thirds of corn exports left via the US Gulf with around a third out of the Pacific Northwest. South Korea and Japan took almost all of the volume out of the Pacific Northwest.

In terms of wheat around 55% of exports left from the Pacific Northwest for Asia with the majority of the rest leaving from the US Gulf.

Meanwhile, in soybeans the export inspection disappointed with 490,000 mt versus analyst expectations of 800-1.05 million mt.

China took around a quarter (122,000 mt) of the exports out of the Pacific Northwest with the Netherlands taking 70,257 mt, Egypt 65,000 mt and Mexico 54,000 mt out of the US Gulf and the interior.