Investing.com -- The Department of Agriculture reported on Thursday that the export sales of U.S. wheat for the 2024/25 marketing year were negative due to cancellations from several major customers.
This week’s net sales reductions amounted to 248,800 metric tons, with the largest cancellations coming from Panama, unknown destinations, Egypt, Mexico, and the Philippines.
Despite the drop in wheat sales for 2024/25, the sales for the 2025/26 marketing year were higher, totaling 491,100 tons. The leading buyers of the wheat for this period included Guatemala, Mexico, unknown destinations, Panama, and Egypt.
However, the combined sales for both marketing years were lower than what analysts had predicted.
Soybean sales also fell short of analysts’ expectations, totaling 352,700 tons across both marketing years.
In contrast, corn sales exceeded analyst expectations, reaching a total of 1.56 million tons for both marketing years.
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