USDA reports soybean export sales for the week ending January 19 were lower than expected while corn, wheat, soybean meal, and soybean oil were within pre-report estimates. Physical shipments of corn and soybeans were more than what’s needed weekly to meet USDA projections for the 2011/12 marketing year but wheat fell short of its’ mark.
Wheat came out at 604,700 tons (22.2 million bushels), up 3% from the week ending January 12 and 59% higher than the four week average. South Korea picked up 196,000 tons and Mexico bought 126,800 tons. At this point in the 2011/12 marketing year, wheat sales are 777.0 million bushels, compared to 1.033 billion in 2010/11. Sales of 14,000 tons (500,000 bushels) for delivery during the 2012/13 marketing year were to Italy (9,000 tons) and Mexico (5,000 tons).
Corn was reported at 958,100 tons (37.7 million bushels) with Japan purchasing 311,900 tons, Mexico picking up 264,100 tons, and South Korea buying 186,600 tons. For the marketing year to date, corn sales are 1.052 billion bushels, compared to 1.106 billion this time last year. Sales of 82,500 tons (3.2 million bushels) for 2012/13 delivery were mostly to Mexico (45,000 tons) and Japan (32,500 tons).
Soybeans were pegged at 466,300 tons (17.1 million bushels), down 53% from the previous week and 21% lower than the four week average. China bought 360,900 tons and Mexico purchased 143,500 tons but unknown destinations canceled on 258,000 tons. So far this marketing year, soybean sales are 955.7 million bushels, compared to 1.372 billion a year ago. Sales of 126,000 tons (4.6 million bushels) were to China (120,000 tons) and Japan (6,000 tons).
Soybean meal came out at 124,200 tons, 32% less than the week before but 17% more than the four week average. Latvia was the top buyer at 27,400 tons followed by Spain at 27,000 tons and Mexico at 22,300 tons. Cumulative soybean meal sales are 4,485,700 tons, compared to 5,008,900 tons last year. Sales of 2,400 tons for 2012/13 delivery occurred as Nicaragua bought 2,500 tons and Canada canceled on 100 tons.
Soybean oil was reported at 2,500 tons. Mexico and Nicaragua each bought 1,500 tons and Canada canceled on 500 tons. 2011/12 soybean oil sales are 192,700 tons, compared to 1,040,500 in 2010/11.
Net beef sales totaled 19,600 tons. The listed purchasers were Mexico (5,100 tons), Canada (3,000 tons), Japan (3,000 tons), Vietnam (2,500 tons), and South Korea (1,800 tons).
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