Sales of corn and soybeans sales have begun to decrease to their lowest levels of the year as the 2014-15 marketing year nears its close, according to a report by Farmland Forecast and Colvin & Co.
This trend happens annual as buyers begin purchasing new crop contracts. Corn sales declined for the second straight week and wheat sales declined for the third consecutive week. Soybean sales increased this week, but continue to be hampered by cheaper Brazilian soybeans. Corn and wheat exports increased, while soybean exports decreased.
Weekly net corn sales for the 2014/15 marketing year were 331,100 metric tons (MT), a 38% decrease from last week and a 44% decrease from the prior 10-week average.
To read the full report, visit www.farmlandforecast.com.