News
A big week for corn export sales
Corn was the bright spot in the latest Export Sales report from the USDA. Net sales of more than 1.2 metric tons (MT) were up 70% from the previous week and up 26% from the prior 4-week average. Increases were primarily for China. Rice was also up noticeably from the previous week and up 33% from the prior 4-week average.
Beef export sales for the week were up 23% from the previous week, but down 18 percent from the prior 4-week average.
Sales for wheat, soybeans, cotton, and pork all declined. Cotton sales were a marketing-year low and were down 6 percent from the previous week and down 76% from the prior 4-week average.
The USDA’s next set of supply and demand numbers comes out May 12th.