Corn export sales slide to marketing year low

U.S. corn export sales hit a marketing year low during the week ending April 27th. The USDA says the net reduction of more than 315,000 tons of U.S. corn followed significant cancellations by China and unknown destinations. Pork exports were down from the previous week’s marketing year high, but still much larger than average. Soybeans, rice, and sorghum were also lower, while beef, wheat, soybean products, and cotton showed week to week improvements. There are several factors that drive export demand including seasonal supply trends, currency movement, and geopolitics.

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