USA: USDA brings weekly soybean sales exceeding 3 million tons; corn exceeds market expectations

The new weekly export sales bulletin reported by the USDA (United States Department of Agriculture) this Thursday (16) brought good numbers for soybeans and corn, confirming the intense demand for North American grains. "Corn sales were above expectations and soybean sales were within expectations. In soybeans, sales were driven by large purchases from Sinograin, which has already been priced", explained the Agrinvest Commodities team. In the week ending November 9, the USDA made several daily sales announcements and, in the case of oilseeds, the volume exceeded two million tons, with Agrinvest having already advanced the presence of purchases from Sino, the state-owned company that manages Chinese stocks. Thus, the volume reported by the department this Thursday shows that, last week, the USA sold 3,918.4 million tons of the 2023/24 harvest, compared to the expected range of 2.9 to 4.5 million. China was the main destination. In every commercial year, the country has already ...