Mixed Week for U.S. Exporters, China Still Buying

WASHINGTON, DC – Net sales of U.S. wheat over the past week totaled 518,700 metric tons (MT) with the majority purchased by buyers in Japan, Nigeria, and South Korea. Exports were almost double from the previous week (710,100 MT) primarily to China, Japan, and Nigeria.

For the week ending June 18, 2020, corn sales for the old crop were up 29 percent from the previous week as Mexico, Peru, and China led the buyers. Net new crop sales (77,000 MT) belonged to Costa Rica, Taiwan, and Honduras. Also for the week, actual exports were up 50 percent (1,313,000 MT) thanks to Mexico, South Korea, and Japan.

Sorghum buyers canceled more sales than purchases last week and all exports (a 49 percent reduction) were shipped to China (110,000 MT).

Purchases for U.S. soybeans (601,900 MT) bound for export markets climbed 12 percent week over week as China remains the top buyer (Egypt and Spain round out the top three). New crop sales totaled 560,700 MT with China, once again leading the way. Exports on the other hand slipped down 22 percent (302,400 MT) from the previous week and the destinations were primarily China, Egypt, and Japan.

Though cotton sales are lagging over the past month, net new sales (102,700 RB) were up 5 percent from the previous week with China purchasing 92 percent of the crop. The export story was almost identical, as China, Vietnam, and Turkey took the majority of shipments.

Net beef sales were up 21 percent from the previous week as South Korea, Japan, and Taiwan loaded their carts this week. Exports (18,600 MT) were up noticeably from the previous week primarily to Japan, South Korea, and Canada.

Finally, pork sales fell 38 percent week over week (24,100 MT) through Mexico, China, and Japan were active buyers. Pork exports (29,500 MT) slipped 12 percent on shipments to China, Mexico, and Japan.
(SOURCE: Foreign Agriculture Service)