Markets Maintain Busy Tone

CHICAGO - Aug 2/07 - SNS -- International agriculture commodity markets are maintaining a relatively busy tone as they approach the weekend, leaving traders hopeful export sales activity from the United States will maintain its recent better than expected performance.

The USDA released its weekly summary of export sales before markets opened today. Net new export sales of corn were within trade expectations at 806,000 metric tons (MT). The most important buyers were Japan at 330,200 MT; Korea at 158,300; Syria at 136,600 MT; and Mexico at 62,400 MT of corn.

Net sales of wheat were higher than expected at 1.7413 million MT. The largest buyer was the Philippines at 241,000 MT, followed by Iraq at 200,000; Morocco at 11,900; Algeria at 100,000; and Mexico at 77,900 MT.

Soybean export sales were about as expected at 185,100 MT of current and 255,200 MT of new crop beans, with Taiwan the largest destination at 24,400 MT, followed by Indonesia at 20,100 and Japan at 16,200 MT.

Net new soybean meal sales were slightly higher than expect at 76,800 MT of current and 33,600 MT of new crop meal. Soybean oil sales were higher than expected at 24,000 MT of current and 3,400 MT of new crop oil.

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