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Quiet Finish to Weekly Business
CHICAGO - Apr 11/08 - SNS -- International agriculture commodity markets finished the week's trading on a relatively quiet note, with labor unrest remaining a concern in South America and now France.
The USDA's latest weekly export sales figures totalled 473,900 metric tons (MT) for corn. While lower than expected, this marketing year's cumulative sales still look strong at 85% of the USDA forecast for 2007-08, compared to their recent 5-year average of 72.1% of forecast for this time of the year.
Wheat export sales now total 96.1% of the USDA revised forecast for the marketing year. The latest weekly export sales totals came in at a net 454,300 MT of current crop and 309,400 of new crop for a total of over 763,000 MT.
Soybean export sales came in at 583,800 MT of current and 60,000 MT of new crop, lifting export sales to 94.6% of the USDA forecast for the season as compared to a 5-year average of 91.8%.
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