US corn net export sales rose 79.8% on week, above market expectations.

US net export sales of the current 2017-18 marketing year corn crop totaled 1.558 million mt in the week that ended December 14, up 79.8% from 866,918 mt in the previous week. Market expectations were for USDA weekly export sales to be between 800,000 mt and 1.1 MMT. Since the current marketing year began September 1, total commitments cumulative exports plus outstanding sales totaled 25.324 million mt, down 26% year on year and 7.9% above the five-year average. The current total is already 51.8% of the USDA’s 48.9 MMT projection for the current marketing year.