U.S. Wheat Export Sales Beat Forecasts

In its latest weekly report, the Department of Agriculture said that wheat export sales in the 2024/25 marketing years totaled 805,300 metric tons. That’s more than forecast by surveyed analysts, who had projected sales to land between 350,000 tons and 700,000 tons. Mexico and the Philippines were the leading buyers of U.S. wheat for the week, followed by Taiwan, Brazil and South Korea.

Meanwhile, corn sales totaled 668,700 tons across both marketing years, and soybean sales landed at 378,700 tons. Both sales totals are within analyst forecasts, although on the lower end in both cases.

The report was delayed this week, with markets being closed in observance of the Independence Day holiday.