Corn, Soybean, and Cotton Cancellations Outpace Export Sales

WASHINGTON, DC – Export sales of wheat were higher for the week ending July 22, but not just lower for corn, soybeans, and cotton, they were actually the equivalent of returns as the cancellation of previous sales outpaced the current week’s sales. According to USDA, weekly exports improved (over the previous week) for corn, sorghum, and soybeans.

Wheat:
Net sales of 515,200 metric tons (MT) were up 9 percent from the previous week on increases for China, Mexico, and the Philippines.
Exports of 345,000 MT were down 27 percent from the previous week primarily to Mexico, China, and the Philippines.

Corn:
Net sales reductions of 115,200 MT for old crop represent a marketing-year low as sales to Japan, Venezuela, and Barbados, were more than offset by reductions from China.
Net new crop sales of 529,300 MT were primarily for Mexico, Colombia, and Japan.
Exports of 1,361,000 MT were up 36 percent from the previous week to China, Japan, and Mexico.

Sorghum:
Net old-crop sales of 2,000 MT to China and Mexico, were offset by reductions for unknown destinations.
Exports of 69,600 MT were up 18 percent from the previous week primarily to China.

Soybeans:
Net old-crop sales reductions of 79,300 MT for the week despite sales to Taiwan, Mexico, and Vietnam.
Net new crop sales of 312,800 MT were primarily for Mexico, China, and Pakistan.
Exports of 244,200 MT were up 49 percent from the previous week destined for Mexico, Bangladesh, and Canada.

Cotton:
Net sales reductions of 1,200 RB of old crop represent a marketing-year low, despite sales to Mexico, Pakistan, and Peru that were more than offset by reductions by Indonesia, Vietnam, China, and Japan.
For the new crop, net sales of 192,200 RB are primarily for Bangladesh, Mexico, and Pakistan.
Exports of 238,300 RB were down 3 percent from the previous week to Turkey, Pakistan, and Vietnam.
(SOURCE: All Ag News)