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Corn and Soybean Export Sales Surge

USDA says corn sales to overseas buyers surged, and soybean sales hit a marketing-year high in the seven days ending on October 19. Corn export sales totaled 1.35 million metric tons, up 53 percent over the previous week and 22 percent from the prior four-week average.

An agency report says Mexico was a big buyer of U.S. corn, purchasing 762,400 metric tons, followed by Colombia and Japan. Exports during the week were 483,700 tons, down six percent week-to-week and the lowest since the marketing year began on September 1. Soybean sales jumped to 1.38 million metric tons during the week, one percent above the previous week and 43 percent over the four-week average. That’s also the largest amount since the marketing year began. China was the largest buyer at 1.17 million tons.

Soybean exports hit a marketing-year high at 2.38 million tons. Wheat sales dropped 43 percent from the prior week.

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