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45790

Corn Export Sales Jump in Week Ended Jan. 14

Corn sales jumped in the week that ended Jan. 14 as Mexico and Saudi Arabia stepped up purchases.

Exporters sold 1.16 million metric tons of corn to overseas buyers last week, up 73% from the prior week and 91% from the prior four-week average, according to the U.S. Department of Agriculture. 

Mexico bought 466,900 tons and Saudi Arabia purchased 146,500 tons. Unknown importers bought 255,600 tons, the USDA said. 

Soybean sales totaled 985,100 tons, down 13% from the previous week and 5% from the prior four-week average. China bought the bulk of the total, purchasing 717,900 tons.

Wheat exporters sold 362,000 tons last week, up 32% from the prior seven days and down a third from the average. Mexico was the biggest buyer at 100,100 tons. 

Total commitments to purchase U.S. grains and oilseeds are still down from last year. Corn sales since the start of the marketing year are off 27% vs. the same time frame a year earlier, commitments to buy soybeans are down 9%, and wheat sales have dropped 15%, according to the USDA.

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