USDA Export Sales Report: Corn Sales Slump to Marketing Year Low

The latest USDA export sales report showed mixed results for US agricultural exports. The report covered the week through July 30 and revealed that old crop corn sales slumped to a marketing year low, while new crop sales were more bullish.

Corn exports totaled 45 million bushels, with 4.6 million bushels in old crop sales and 40.4 million bushels in new crop sales. This was near the middle of trade guesses, which ranged between 35.4 million and 59.1 million bushels.

Corn export shipments improved 14% versus the prior four-week average after reaching 75.8 million bushels, with Mexico, South Korea, Colombia, Japan, and Spain being the top five destinations.