* Net corn sales largest since December 1994
* Wheat sales at 34-month high, up 6 pct from week ago
* Soybean sales slip, but near high end of trade forecasts
CHICAGO, Aug 19 (Reuters) – Net export sales of U.S. corn
last week were the largest in nearly 16 years, while wheat
sales posted a fresh 34-month high, according to data released
by the U.S. Agriculture Department on Thursday.
Sales of both grains were far greater than trade forecasts,
prompting traders to raise their opening calls for Chicago
Board of Trade futures. [WHE/]
Soybean export sales last week were down slightly from the
prior week, but sales were still very strong and near the high
end of trade forecasts.
USDA said net corn sales in the week ended Aug. 12 totaled
594,900 tonnes for 2009/10 marketing year shipment and 2.29
million tonnes for the new marketing year, which begins on
Sept. 1.
The combined total of nearly 2.9 million tonnes was the
largest since December 1994, when a single week’s sales totaled
nearly 3.3 million tonnes amid huge sales to China.