As a percent of the July WASDE export projections however, the figures are not quite as impressive.
With the current new crop corn export projection of 2.150 billion bushels (bb), these sales are 14.1% of that figure, also the highest since 2013/14 but just slightly above the ten-year average of 13.3%.
With the USDA export estimate for soybeans at 2.050 bb, next year's sales are 18.6% of that and though the highest in four years, are well below the ten year average of 21.6%.
Keep in mind USDA is looking for corn and bean overseas sales up 375 mb and 400 mb respectively from the current marketing year.
For corn, that is a 21.1% increase from this year and other than the recovery after the 2012 drought, a year to year jump in our exports of that magnitude has not seen since the 1998/99 season.
For soybeans, that is a 21.4% increase from this year and other than the recovery after the 2012 drought, would be the largest percent increase in our exports since the 2004/05 marketing year.
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The Link LonkJuly 28, 2020 at 10:45PM
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Corn At, Beans Below 10-Year Average for New Crop Exports - DTN The Progressive Farmer
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