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USDA Exports Sales Disappoint
CHICAGO - Apr 5/07 - SNS -- International agriculture commodity markets were relatively busy in front of the long Easter holiday weekend.
The USDA released its latest weekly export sale summary before markets opened. The corn sales figure was lower than expected at 549,600 metric tons (MT) of current crop and 110,800 MT of new crop for a total of 660,400 MT.
Traders were disappointed with the wheat export sales figures of 214,000 MT for the current crop and 137,100 MT for new crop for a total of 351,100.
The soybean export sales number was also lower than expected at 259,000 MT for the current crop and 36,300 MT for new crop for a total of 295,300.
Soybean meal sales totalled 121,700 MT for the current crop with net cancellations of 2,200 MT for new crop for a net total of 119,500, which was within the range of expectations. Oil sales came in at 13,800 MT, which was above expectations.
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