Corn Export Sales Jump While Wheat Sales Decline

The USDA says corn sales for the 2020-2021 marketing year that ends on August 31 jumped while wheat sales declined. Sales of corn for offshore delivery totaled 377,600 metric tons in the seven days ending on August 5. That’s up noticeably from the previous week and the prior four-week average. Mexico was the big buyer at 144,500 metric tons, followed by Japan and Venezuela. The total would have been higher, but an unknown country canceled cargoes totaling 76,800 metric tons. Sales for delivery in the next marketing year totaled just shy of 602,000 metric tons. Exports for the week dropped 25 percent to 1.06 million metric tons. Wheat sales for delivery during the marketing year that began on June 1 fell to 293,000 metric tons, five percent lower week-to-week and 32 percent lower than the prior four-week average. An unknown country bought 98,600 metric tons, followed by Japan and Venezuela. Exports for the week hit a marketing-year high of 627,900 tons. Soybean sales in the current marketing year came in at 96,900 metric tons, up from the prior week and the previous four-week average. China was the top buyer at 84,500 metric tons. For the next marketing year, sales totaled 1.12 million metric tons.

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