Soybean Exports Impressive While Cotton Hits Marketing-Year Low

WASHINGTON, DC – USDA’s latest Weekly Export Sales Report for the week ending October 7, 2021, was delayed one day due to the federal observance of Columbus Day on Monday. Although exports have been strong this marketing year, sales and exports for cotton are lower after futures prices in New York hit their highest level in 10 years. In addition, wheat sales appear to be picking up on news that Russia will harvest a smaller crop and their export taxes are increasing.

Wheat: Net sales of 567,600 metric tons were up 70 percent from the previous week. Increases primarily for the Philippines, Mexico, and Taiwan.
Exports of 458,900 MT were down 16 percent from the previous week. The destinations were primarily Japan, Colombia, and China.

Corn: Net sales of 1,039,900 MT were down 18 percent from the previous week. Increases primarily for Mexico, Guatemala, and Japan.
Exports of 918,100 MT were down 6 percent from the previous week. The destinations were primarily Mexico, China, and Colombia.

Sorghum: Total net sales of 2,500 MT were up 6 percent from the previous week. The destination reported was China.
Exports of 62,300 MT were up 30 percent. The destinations were China and Mexico.

Soybeans: Net sales of 1,147,800 MT were up 10 percent from the previous week. Increases primarily for China, Mexico, and Egypt.
Exports of 1,713,800 MT were up 82 percent from the previous week. The destinations were primarily China, Taiwan, and Mexico.

Cotton: Net sales of 146,700 RB for 2021/2022 were down 41 percent from the previous week. Increases primarily for Turkey, Mexico, and China.
Exports of 95,200 RB–a marketing-year low–were down 24 percent from the previous week. The destinations were primarily Mexico, China, and Vietnam.

Beef: Net sales of 15,700 MT reported were up 1 percent from the previous week. Increases were primarily for Japan, China, and South Korea.
Exports of 15,500 MT were down 1 percent from the previous week. The destinations were primarily Japan, South Korea, and China.

Pork: Net sales of 33,500 MT reported for 2021 were up 51 percent. Increases primarily for Japan, Mexico, and China.
Exports of 29,700 MT were up 2 percent from the previous week. The destinations were primarily Mexico, China, and Japan.
(SOURCE: All Ag News)