CHICAGO: U.S. corn export sales last week jumped 36 percent from the previous week as record-high prices amid the tightest stocks since the 1930s have done little to curb demand for the feed grain.
Net sales of U.S. corn in the week ended on April 7 total 1.1 million tonnes of which 848,000 tonnes was for shipment by the end of the 2010/11 marketing year on Aug. 31, according to U.S. Agriculture Department data released early on Thursday.
The sales topped analyst expectations for 550,000 to 900,000 Tonnes.
Japan the world's top corn importer, was the week's biggest buyer with 468,900 tonnes in 2010/11 purchases, the country's largest weekly tally in six weeks and the largest since a devastating earthquake and tsunami on March 11.
Soybean export sales of at a net 79,300 Tonnes for the 2010/11 and 2011/12 marketing years combined were well below forecasts for 200,000 to 350,000 Tonnes.
The sales, dragged down by a cancellation of 51,500 tonnes in new-crop sales to top importer China, were the lowest weekly net sales in 13 months.
Wheat export sales were within the range of forecasts at 545,600 Tonnes.
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