US weekly corn exports surge, while soybeans tail off: USDA

Weekly US corn exports jumped 34% on the week to 1.94 MMT, breaking through analysts upper expectations of 1.45 MMT, while soybean exports dipped 35% and fell short of expectations. The bulk of the corn volume was picked up by Japan at 545,618 MT, with Mexico buying 385,394 MT, followed by Vietnam at 177,029 MT. Exports out of the US Gulf topped the 1 million mt mark, with the rest shipped out of the PNW. Total corn exports this campaign now amount to 26.48 million mt and are still showing a large lag to this time last year when exports were at 34.5 MMT. Meanwhile, weekly soybean exports slumped to 373,940 MT, down 35% on the week before, and falling short of the lower end of analysts expectations of 475,000 MT.