Excellent corn and soybean export numbers highlighted this week?s U.S. Export Sales Report. Allendale commodity broker Greg McBride said this is counter-seasonal to what soybeans normally do at this time of year, but they were likely aided by poor Brazilian soybean numbers.
At this time of year, we start to expect to see good corn purchases like this. However, McBride said that the corn sales were especially impressive since the flash sales for the past week have been very quiet.
Recently, many countries have been trying to allocate grain since Ukraine and Russia will not be in the picture. Some of them looked to Brazil and most of South America, but their soybeans aren?t great, and the corn isn?t exactly exportable right now. McBride said the availability of U.S. grains could cause these sales to continue for a bit.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
