Corn, Soybean Exports Reach New Highs in August

While corn and soybean exports have lagged the three-year average, it’s no surprise crop prices reflect the glum outlook. However, a shot in the arm has arrived for both crop’s export trends, as renewed demand helped bolster sales. Export data from the week ending August 31 shows net sales of 949,700 metric tons of corn and 1,783,100 metric tons of soybeans.

With a sale of 81.2 million bushels, corn sales reached a new high for the 2023/24 marketing year. The news is welcomed, as the crop is still 11% behind last year and a bleak 43% behind the three-year average. Soybeans also achieved a new high mark for the year at 110 million bushels. However, the legume is still 35% behind last year’s exports and 36% behind the three-year average.

Read more on corn and soybean exports here.