U.S. Corn Exports Reach High, Soybeans Sales Tumble
WASHINGTON, DC – USDA released their latest Weekly Export Sales Report on Thursday morning with corn exports reaching a marketing-year high and soybean sales hitting a marketing-year low. Wheat sales were down 44 percent from the previous week (446,400 metric tons) with purchases primarily for Mexico, Taiwan, and South Korea. Exports were up 32 percent from the last week (451,500 MT) and 40 percent from the prior 4-week average. The destinations were the Philippines, China, and Indonesia. Net new corn sales fell 18 percent from the previous week (1,371,400 MT) with increases primarily for Mexico, China, and Japan. Exports hit a marketing-year high (1,072,300 MT) soaring 23 percent above last week. The destinations were primarily to China, Mexico, and Japan. Sorghum sales fell this past week (238,600 MT), dipping 33 percent from the previous week primarily for China. Exports to China improved (213,700 MT), moving 77 percent higher from the previous week. Net sales for soybeans fell to a marketing-year low (406,900 MT), down 47 percent from the previous week. The top three buyers include China, Thailand, and Vietnam. Exports were up slightly, week over week (2,492,600 MT) and shipments went to China, Vietnam, and Thailand. More than a quarter-million bales (277,900 RB) of cotton were sold during the week, though sales were down 22 percent from the previous week. China was the top buyer followed by Vietnam, and Pakistan. Exports were logged primarily to China, Vietnam, and Pakistan. Beef sales were disappointing (13,700 MT) as they fell noticeably from the previous week with Japan, South Korea, and Mexico the top buyers. Exports were also down 18 percent (16,600 MT) on shipments to South Korea, Japan, and China. Pork sales increased 66 percent from the previous week (31,300 MT) as Mexico, China, and Japan filled their shopping carts. Exports, however, fell 17 percent from the previous week (34,100 MT) as products shipped to Mexico, China, and Japan.
(SOURCE: All Ag News)