China Stays Leading Buyer of U.S. Grain Exports

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By Kirk Maltais

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Export sales of US corn and soybeans continue to be driven largely by new sales to China, the USDA reported today.

In its weekly export sales report covering sales for the week ended April 28, the USDA said that corn sales across the 2021/22 and 2022/23 marketing year totaled 1.52 million metric tons–while soybean sales totaled 1.14 million tons for both marketing years . Both of these totals fell within the forecasts of traders surveyed by The Wall Street Journal this week.

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China was the leading buyer for both corn and soybeans this week. China purchased 1.08 million tons of corn across both marketing years, and bought 468,800 tons of soybeans.

Wheat sales across both marketing years also fell within trader forecasts, although on the low end. Sales totaled 161,200 tons.

Grain futures on the CBOT are higher in pre-market trading Thursday, with corn futures up 0.6%, soybeans up 0.8%, and wheat up 2.3%.

To see related data, search “US Export Sales: Weekly Sales Totals” in Dow Jones NewsPlus.

Write to Kirk Maltais at [email protected]

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Credit: www.marketwatch.com /

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