The USDA’s weekly export sales had corn and wheat sales higher than the top end of the range of expectations. It is not a miracle; North America has always been the wheat supplier of last result. The January sharply increased insurance rates for ships in the Black Sea and increased export tax on Russian wheat, it was time for Canada and USA to get some wheat sold.
Argentina and Ukraine are the world’s #3 and #4 corn exporters and they both have serious problems exporting anything and the #2 corn exporter, Brazil, always gets its corn sold by the end of January to make way for its soybean harvest. Only the USA has corn for sale until Brazil’s second crop corn harvest begins in July. Note the export sales summary below. There is a lot of interesting information there.