Corn/USDA: USA sells 1.22 million tons of the 2023/24 harvest in the week

By Audryn Karolyne, with information from Dow Jones Newswires São Paulo, 02/08/2024 - United States exporters reported sales of 1.219 million tons of corn from the 2023/24 harvest, including cancellations, in the week ending February 1st, the United States Department of Agriculture recently reported (USDA). The volume represents an increase of 1% compared to the previous week and an increase of 25% compared to the average of the previous four weeks. The main buyers were undisclosed destinations (341.2 thousand t), Japan (274.7 thousand t), Mexico (163.1 thousand t), Colombia (138.7 thousand t) and South Korea (133.6 thousand t), which offset the cancellations made by China (68 thousand t) and Suriname (300 t). For the 2024/25 harvest, no sales were reported. The volume was closer to the ceiling of analysts' estimates, who expected sales between 600 thousand tons and 1.4 million tons. Shipments in the period totaled 782.8 thousand tons, a ...