Corn Exports Set a Record

Corn export sales set a record last week, while soybean and wheat sales surged higher. China led all buyers, but especially in corn. The USDA says U.S. corn sales to overseas buyers totaled 7.44 million metric tons for the week ending January 29, the highest level since 1990. The agency says China purchased 5.86 million metric tons. Japan was next at close to 503,000 metric tons, and Mexico bought 403,700 tons. Export sales totaled 995,000 metric tons during the week ending January 29. That’s down 30 percent week-to-week and 17 percent from the previous four-week average. Soybean sales totaled 824,000 metric tons, up 77 percent from the previous week and four percent over the previous four-week average. China was the big soybean buyer at 598,900 metric tons, followed by Mexico at 121,400 tons, and the Netherlands bought 115,500 tons. Exports during the week ending on January 29 totaled 1.96 million metric tons, down 11 percent from the previous seven-day period and seven percent compared to the previous four-week average. Wheat sales also jumped higher, rising 69 percent from the prior week to 643,100 metric tons. Once again, China was the biggest buyer, purchasing 134,000 metric tons.