Corn export sales for the week ending December 10 hit a new marketing year high while soybeans, bean meal, bean oil and wheat sales were within pre-report estimates. Physical shipments of soybeans were above what’s needed weekly to meet USDA projections for the 2009/10 marketing year but corn and wheat fell short of their respective marks.
Wheat came out at 345,000 tons (12.7 million bushels), up 41% from the week ending December 3 and 2% higher than the four week average. Japan was the leading buyer at 138,000 tons while unknown destinations canceled on 126,000 tons. At this point in the 2009/10 marketing year, wheat exports are 564.6 million bushels, compared to 776 million in 2008/09.
Corn was reported at 1,227,100 tons (48.3 million bushels), 45% more than the previous week and 59% larger than the four week average. Mexico picked up 291,800 tons and Japan bought 278,000 tons. For the marketing year to date, corn sales are 891.6 million bushels, compared to 795.9 million a year ago.
Soybeans were pegged at 934,700 tons (34.3 million bushels), 1% above the prior week but 8% below the four week average. China bought the vast majority of the weekly total, picking up 668,500 tons. So far this marketing year, soybean sales are 1.086 billion bushels, compared to 707.5 million this time last year. Sales of 10,000 tons (400,000 bushels) for 2010/11 delivery were to Japan.
Soybean meal was reported at 191,400 tons, down 36% from the week before and 23% lower than the four week average. Indonesia purchased 70,100 tons while unknown destinations canceled on 23,700 tons. Cumulative bean meal sales are 5,292,400 tons, compared to 2,913,000 a year ago.
Soybean oil came out at 20,700 tons, an increase of 67% from the previous week and up 31% from the four week average. Malaysia bought 18,800 tons and unknown destinations canceled on 57,000 tons. 2009/10 soybean oil sales are 737,100 tons, compared to 208,500 in 2008/09.
Net beef sales totaled 4,500 tons. The reported purchasers were Mexico (2,200 tons), Canada (1,800 tons) and Vietnam (1,300 tons). South Korea canceled on 1,400 tons while Taiwan canceled on 200 tons. Sales of 8,100 tons for 2010 delivery were mainly to South Korea (3,100 tons), Vietnam (1,900 tons) and Japan (1,100 tons).
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