Export demand for new corn and soybeans has surged as commodity prices decline. The USDA reported corn sales in the seven days that ended August 22 reached 1.49 million metric tons. This was an increase from 1.29 million tons from the previous week.

Mexico purchased 419,700 tons to take the top position. An unnamed country purchased 391,200 tons. Japan followed this at 203,500 tons, Columbia at 112,200 tons and Guatemala at 109,900 tons.

Soybean sales jumped to 2.62 million metric tons. This was an increase from 1.68 million tons the week prior. China led soybean purchases with 870,000 tons. An unnamed country purchased 845,600 tons. Mexico bought 236,800 tons, followed by Egypt at 195,000 tons and Japan at 93,000 tons.

Read more on corn and soybean crop sales here.