NASHVILLE, TN – Grain export sales for the week ending July 24 showed mixed movement, with overall unshipped balances of corn and soybeans totaling 12.62 million metric tons (mmt)—down 9 percent from the week before, but still 27 percent higher than this time last year. The wheat balance rose 5 percent from last week to 6.32 mmt, up 17 percent year-over-year.
New export sales for corn dropped to 0.34 mmt, down 47 percent. Wheat sales also declined, while soybean sales improved significantly from the prior week, totaling 0.35 mmt.
Rail activity continued strong, with U.S. Class I railroads moving 27,097 grain carloads—up 8 percent from the previous week and 24 percent above the three-year average. August shuttle railcar bids fell $12 to $46 below tariff, while non-shuttle bids remained at tariff, down $225 from last year.
Barge traffic slowed modestly, with 777,004 tons of grain moved—down 8 percent from the previous week. However, barge unloads in New Orleans rose 16 percent.
Ocean freight remained firm. Thirty vessels were loaded in the Gulf, and 39 more are expected soon. Shipping rates to Japan held steady from the Gulf and dipped slightly from the Pacific Northwest. Diesel prices eased to $3.80 per gallon – 4.5 cents above the same week last year.