Soybean Exports Hit Marketing Year High and Low

WASHINGTON, DC – The Foreign Agriculture Service released their latest Weekly Export Sales report on Friday, one day later than normal due to the Veteran’s Day Federal holiday on Wednesday.

Wheat: Net sales of over 300,000 metric tons (MT) for 2020/2021 were down 50 percent from the previous week and 46 percent from the prior 4-week average. Increases primarily for Guatemala, Japan, and El Salvador. Exports of almost 355,000 were up 11 percent from the previous week, but down 3 percent from the prior 4-week average. The destinations were the Philippines, Mexico, and Japan.

Corn: Net sales of more than 978,000 MT were down 63 percent from the previous week and 47 percent from the prior 4-week average. Increases primarily for Mexico, South Korea, and Japan. Exports of nearly 731,000 MT were unchanged from the previous week, but down 8 percent from the prior 4-week average. The destinations were primarily to Mexico, China, and Japan.

Sorghum: Sales exceeded 245,000 MT while exports of 71,000 MT all went to China.

Soybeans: Net sales hit a marketing-year low (1,468,500 MT), down 4 percent from the previous week and 26 percent from the prior 4-week average. Increases primarily for China, Thailand, and Vietnam. Exports, on the other hand, hit a marketing-year high (3,210,000 MT), up 27 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to China, Thailand, and Mexico.

Cotton: Net sales of just under 237,000 running bales (RB) were up noticeably from the previous week and up 30 percent from the prior 4-week average. Increases primarily for Pakistan, Vietnam, and Turkey. Exports of 293,000 RB were up 9 percent from the previous week and 32 percent from the prior 4-week average and primarily to China, Vietnam, and Pakistan.

Beef: Net sales of more than 14,000 MT reported for 2020 were down 30 percent from the previous week and 23 percent from the prior 4-week average. Increases primarily for China, Japan, and Canada. Exports were also more than 14,000 MT and were down 34 percent from the previous week, 22 percent from the prior 4-week average. The destinations were primarily to Japan, South Korea, and China.

Pork: Net sales of 42,500 MT reported for 2020 were up 1 percent from the previous week and 36 percent from the prior 4-week average. Increases were primarily for China, Mexico, and Japan. Exports of more than 38,000 MT were up 1 percent from the previous week and 3 percent from the prior 4-week average. The destinations were primarily to China, Mexico, and Japan.
(SOURCE: All Ag News)