U.S. Corn Export Sales Jump Higher

U.S. Corn Export Sales Jump Higher

Corn sales to overseas buyers jumped higher over the seven days ending on March 18. The USDA says wheat and soybean sales declined during the same period. Corn sales totaled 4.48 million metric tons, up from 395,500 tons during the prior week. China was the big buyer at 3.89 million metric tons. South Korea was next with 353,300 metric tons, followed by Mexico in third place with 196,000 tons. Exports totaled just over two million metric tons, down seven percent week-to-week. Wheat sales dropped 12 percent week-to-week at 343,600 tons. That’s still 24 percent higher than the prior four-week average. Japan was the top wheat buyer at 118,800 metric tons, followed by South Korea’s 116,400 tons. Unnamed countries canceled shipments of just over 215,000 metric tons. Soybean sales were dismal at 101,800 metric tons, a 50 percent drop from the previous week and a 56 percent drop from the four-week average. Egypt was the top buyer with 109,700 metric tons. Unnamed destinations canceled purchases totaling 152,500 metric tons. Exports fell six percent week-to-week at 501,400 metric tons.

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