A new USDA report shows U.S. wheat sales fell significantly last week.
For the week ending July 28th, sales were down 39 percent at nearly 250,000 metric tons, which is 55 percent lower than the prior month’s average. Roughly 80,000 tons were sold to unknown destinations, and Indonesia was the second-largest buyer at 70,000 tons. So far this year, roughly 2.49 million tons have been sold and exported.
U.S. corn sales have fallen 62 percent for the 2021-22 crop year, but they are 55 percent higher than the prior month. Japan was the largest buyer at 53,800 metric tons sold. Mexico was the second-largest buyer coming in at 36,000 metric tons.
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