U.S. Corn Exports Ship at a Record Pace but Sales Lag

U.S. corn export sales climbed to a five-week high after two bearish USDA reports pulled prices lower, yet the sales book still trails last year. Mike Castle, StoneX Senior Commodities Economist, explains what the first export data since the price break shows for U.S. corn and soybean demand. China led three straight days of large U.S. soybean flash sales, keeping the soybean export pace at its strongest in four years. Japan, South Korea, Taiwan and Mexico have stepped in for U.S. corn as prices fell, against a newly raised USDA export target. Brazil's higher ethanol mandate keeps more corn at home, while Black Sea disruption and El Niño add to global demand. 0:00 USDA One-Two Punch Hits Grains 2:00 China Piles Into U.S. Soybeans 3:53 Mexico and Japan Buy U.S. Corn 4:44 Corn Ships Fast, Sales Lag 5:28 Asia Lifts Corn Export Sales 6:45 Brazil Keeps Corn for Ethanol Discover Actionable Markets Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_mike_castle&utm_content=share Like and subscribe for more financial market insights. #Corn #StoneX #MikeCastle #Soybeans --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social