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World Ag Markets Get Busier
CHICAGO - Apr 3/08 - SNS -- International agriculture commodity markets continued to strengthen on account of the continuing battle between corn and soybeans for acreage in the United States, worries that spring seeding will be delayed in that country, and a modest improvement in tender activity around the world.
The USDA released its latest weekly export sales summary before markets opened today. It reported corn sales totalled 704,400 metric tons (MT) of current and 241,300 MT of new crop business for a total of 945,700 MT.
New export sales of soybeans totalled 184,800 MT of current and 230,000 MT of new crop business for a total of 414,800. The USDA reported new sales of 90,000 MT of current and net cancellations of 700 MT of new crop soybean meal for a net gain of 89,300 MT. There were 55,800 MT of current crop soybean oil sales.
The USDA reported 267,200 MT of current and 121,100 MT of new crop wheat export sales for a total of 388,300.
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