Buyers Step Into Feed Markets

CHICAGO - Mar 2/07 - SNS -- International agriculture commodity markets are finishing the week on a relatively busy note as buyers take advantage of lower feed grain values to cover medium term needs.

Yesterday's corn export sales numbers from the USDA reveal cumulative sales have reached 66.8% of the USDA forecast for the season, versus 57.8% on average over the last five years. Sales of 694,900 metric tons (MT) per week are needed to reach the USDA estimate, note Chicago Board of Trade (CBOT) analysts.

Cumulative soybean sales now stand at 82.4% of the USDA forecast for the marketing year, just behind the 85.2% average for this time of year. Cumulative meal sales have reached just 57.6% of the USDA forecast as compared to 63.4% on average over the last five years. Cumulative soybean oil sales have reached 51.5% of the USDA forecast as compared to 42.6% on average over the last five years, note CBOT analysts.

Cumulative wheat export sales have reached 85.8% of the USDA forecast as compared to 82.9% on average over the last five years.

Subscribers can read the full text of the article by Clicking here