It was another mixed week for grain and oilseed export sales. USDA reports corn and soybean meal sales for the week ending December 23 were within expectations while soybeans, soybean oil and wheat were below pre-report estimates. Physical shipments of soybeans and corn were more than what’s needed weekly to meet USDA projections for the 2010/11 marketing year but wheat fell short.
Wheat came out at 431,400 tons (15.9 million bushels), down 27% from the week ending December 16 and 36% lower than the four week average. The leading buyer was Iraq at 100,000 tons while unknown destinations canceled on 101,500 tons. At this point in the 2010/11 marketing year, wheat sales are 942.5 million bushels, compared to 586.4 million in 2009/10. Sales of 7,100 tons for 2011/12 delivery were to Mexico.
Corn was reported at 756,600 tons (29.8 million bushels), 17% less than the previous week and 4% below the four week average. Japan was the top purchaser at 221,300 tons. So far this marketing year, corn sales are 1.024 billion bushels, compared to 984.7 million a year ago.
Soybeans were placed at 663,200 tons (24.4 million bushels), a decrease of 20% from the week before and 8% smaller than the four week average. The leading buyer was unnamed at 161,100 tons. For the marketing year to date, soybean sales are 1.285 billion bushels, compared to 1.157 billion this time last year. Sales of 285,000 tons (10.5 million bushels) for 2011/12 delivery were to China.
Soybean meal came out at 219,300 tons, an increase of 93% from the prior week and up 43% from the four week average. The Philippines picked up 49,000 tons. Cumulative soybean meal sales are 4,756,000 tons, compared to 5,768,600 a year ago.
Soybean oil was reported at 1,600 tons with sales to Mexico (5,200 tons) and Canada (2,600 tons) partially offset by cancellations from Algeria (4,000 tons) and Peru (2,100 tons). 2010/11 soybean oil sales are 946,900 tons, compared to 785,400 in 2009/10. Sales of 1,500 tons for 2011/12 delivery were Mexico.
Net beef sales totaled 17,700 tons. The reported buyers were Japan (12,500 tons), Mexico (1,700 tons), South Korea (1,400 tons), Canada (900 tons) and Taiwan (400 tons). Sales of 10,900 tons for 2011 delivery were mainly to Mexico (4,100 tons), Japan (2,000 tons) and South Korea (1,800 tons).


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