Weekly Export Report Reveals Impressive U.S. Wheat Sales
WASHINGTON, DC – Wheat sales last week were impressive, increasing 46 percent over the previous week and 41 percent above the 4-week average, with Mexico and China topping all buyers. Exports were equally impressive as buyers took delivery on more than 646-thousand metric tons. Corn sales improved modestly from the previous week with Japan and Taiwan at the top of the buyers’ list for old crop sales. New crop sales were buoyed by Chinese purchases of more than 660-thousand metric tons. Exports were more than 939-thousand metric tons, down 22 percent from last week, with Mexico and Japan leading the way. Old crop sorghum sales were lackluster as the Chinese begin to place orders for the new crop (2020-2021). China was also the lone export market for the week, accepting 56-thousand metric tons of milo from the United States. Net sales for old-crop soybeans were disappointing as some previous commitments were abandoned by unknown destinations. However new sales were reported for the Netherlands and China. The real shining star for the week came from new crop sales of more than 1.8 million metric tons and exports of nearly 1.3 million metric tons – primarily to China. Vietnam remains one of the top buyers of U.S. cotton, along with China as the two countries purchased the majority of the new crop sales recorded last week. Two-thirds of last week’s exports were destined for China. Net sales of beef and pork last week were also impressive as China was the top buyer of U.S. meat. For beef, domestic sellers rang up nearly 12-thousand metric tons of sales while pork sales increased 91 percent above the previous week.
(SOURCE: Foreign Ag Service)