Positive weekly export sales helped to lift wheat futures to gains on Thursday. Corn was also higher, but soybeans eased.
The USDA’s weekly export sales report this morning showed bookings of American wheat for the week ended Jan. 22 at 558,201 tonnes, at the high end of trade expectations. Meanwhile, monthly data showed November wheat exports at a 5-year for the month. Further weakness in the already battered US dollar, trading near a four-year low, supported wheat as well. March Chicago was up 5 ½ cents at $5.41 ½, and March Kansas City gained 4 ¾ cents to $5.47. March Hard Red Spring added 5 ¾ cents to $5.73 ½, and March Minneapolis climbed 7 ½ cents to $5.81.
Weekly corn export sales were routine at 1.64 million tonnes, but monthly figures showed just over 7.3 million tonnes of US corn shipped in November.That was the second largest total for the month on record and the largest monthly total since last April. March inched up ¾ of a cent to $4.30 ¾, and December was 1 ¼ cents higher at $4.59.
Weekly soybean export sales of just under 819,000 were within trade expectations, but November shipments amounted to just 4.29 million tonnes, the lowest total for the month since 2007. March beans slipped 2 ¾ cents to $10.72 ¼, and November lost a ¼ cent to $10.89 ¾.
