Pork export sales hit a marketing year high during the week ending April 20th. The USDA says Mexico was the biggest buyer of U.S. pork, picking up 60% of the weekly total, followed by Japan and Canada. Corn, soybeans, soybean meal, wheat, cotton, and rice also saw week-to-week improvements. Beef export sales were half of the previous week’s total, soybean oil sales were down, and sorghum had a net reduction. Export demand is driven by several factors, including seasonal trends, currency trade, and geopolitical activity.
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