Corn sales increase while soybeans declineDomestic corn sales rose for the third straight day on May 16, after the U.S. government reported sales to China, which is the world's largest hog producer.

The climb in corn sales is a sign of increased demand for the grain in livestock feed. U.S. exporters sold 900,000 metric tons of corn to China, which included 660,000 tons that were previously reported as being sold to unknown destinations, Bloomberg reported, citing U.S. Department of Agriculture information.

“The China corn-sale announcement is positive because it shows they are willing to buy on weakness,” Jim Riley, a grain broker for the Linn Group in Chicago, said in a telephone interview with Bloomberg. “With a big crop on the horizon, we will need to see more buying from China.”

The United States was the largest producer and exporter of corn last year, in addition to soybeans, which declined in sales.

Shares of wheat also climbed on the 16th, according to CNN.
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