U.S. soybean exports reached their highest weekly level of the marketing year, although new sales declined sharply, according to the latest Department of Agriculture export report. USDA reported soybean shipments totaled 2.53 million metric tons during the week ending Oct. 29, the largest weekly volume since the marketing year began Sept. 1. However, new export sales fell 44% from the previous week to 1.46 million metric tons. China accounted for approximately 874,000 metric tons of those purchases, underscoring its importance to American soybean producers. Corn export sales totaled 1.29 million metric tons, while wheat sales declined 37% to 538,000 metric tons. The figures highlight continued demand for U.S. agricultural commodities despite uncertainty surrounding international trade and competition from South American suppliers. Export performance remains an important factor influencing commodity prices and farm income as producers market their recently harvested crops.
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