Corn: Weekly Export Sales

Very disappointing corn export sales with not only a marketing year low but a net cancelation of 113 tmt as China cancelled 334 tmt and another 192 tmt was cancelled to an unknown destination. The cancellations easily outweighed new sales. The extremely high prices are taking a bite out of new export sales. We do have big sales on the books that we think will be shipped for the most part but the combination of cancellations and a lack of fresh sales disappointing here in the near term.