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Ag Markets Busier Overnight
CHICAGO - Mar 8/07 - SNS -- International agriculture commodity markets were somewhat busier overnight, with good levels of business reported to Morocco, Japan and the Philippines.
The USDA's weekly export sales summary was released before the opening and corn sales exceeded trade expectations at 1,188,300 metric tons (MT) of current crop and 70,400 MT of new crop for a total of 1,258,700 MT.
Weekly soybean exports were also higher than expected at 566,000 MT. There was no surprise in the meal sales numbers, totalling 66,100 MT of current crop and 400 MT of new crop for a total of 66,400. Soybean oil sales were better than expected at 8,000 MT.
Export sales for wheat were at the high end of trade expectations, coming in at 421,900 MT.
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