Strong demand for corn boosts export sales

  • U.S. corn export sales exceed analyst forecasts
  • Corn sales across 2023/24 and 2024/25 total 1.25 million metric tons
  • Leading buyers include Mexico, Colombia, and Japan
  • Wheat and soybean sales fall and land on the lower end of expectations
  • CBOT grains trading lower in pre-market

Export sales of U.S. corn for the week ended December 21 exceeded analyst forecasts, totaling 1.25 million metric tons across the 2023/24 and 2024/25 marketing years. This is an increase from the previous week’s sales of 1.01 million tons. The top buyers for the week were Mexico, Colombia, and Japan. However, sales of wheat and soybeans fell from the previous week and landed on the lower end of analyst expectations. Wheat sales totaled 318,000 tons, while soybean sales reached 983,900 tons for 2023/24, with no sales reported for 2024/25. In pre-market trading, CBOT grains, including corn, soybeans, and wheat, are trading lower.

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Private Companies:
Key People: Kirk Maltais (Author)

Factuality Level: 8
Justification: The article provides specific information about the export sales of U.S. corn, wheat, and soybeans for the week ended December 21. It cites the weekly export sales report from the Department of Agriculture and mentions the leading buyers. The information is supported by data and does not contain any obvious bias or misleading information. However, the article is relatively short and lacks in-depth analysis or context.

Noise Level: 7
Justification: The article provides information on the export sales of U.S. corn, wheat, and soybeans for the week ended December 21. It mentions the total sales, leading buyers, and compares the sales to analyst expectations. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article also includes unrelated information about the pre-market trading of CBOT grains, which is not directly relevant to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information on export sales of U.S. corn, wheat, and soybeans, which can impact the agricultural commodities market and companies involved in the production and export of these crops.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article focuses on the export sales of agricultural commodities and does not mention any extreme events or their impacts.

Reported publicly: www.marketwatch.com