US weekly wheat exports sales beat expectations by 30%

Sales of wheat out of the US for the week ending December 12 have outstripped analyst expectations, with export sales totalling 588,800 mt for the current crop year and 9,500 mt for 2018/2019 year, almost double the week before.

With analysts expecting 250,000-450,000 mt sold for export, the data outstripped expectations by 30% and Chicago wheat ticked 5 cents higher in trade.

Elsewhere, soybean export sales were recorded at 1.4 million mt, at the low end of analyst expectations of 1.4-2 million mt and beans on the Chicago Board of Trade fell 7 cents to $9.71/bu to match a four-week low.

For corn, a similar picture emerged, with 866,000 mt sold for export, within the range of expectations leaving futures unchanged.