USDA’s reporting a mixed week for U.S. grain and oilseed export sales. Soybean and soybean meal exports for the week ending May 3 were larger than expected, while soybean oil and wheat were within pre-report estimates, and corn fell below the anticipated range. Physical shipments of corn, soybeans, and wheat were all less than what’s needed weekly to meet USDA projections for the 2011/12 marketing year.

Wheat came out at 221,600 tons (8.1 million bushels), down 14% from the week ending April 26 and 39% lower than the four week average. The Philippines bought 95,000 tons and unknown destinations canceled on 214,000 tons. With less than a month left in the 2011/12 marketing year, wheat sales are 1.011 billion bushels, compared to 1.296 billion late in 2010/11. Sales of 328,900 tons (12.1 million bushels) for 2012/13 delivery were mainly to Saudi Arabia (110,000 tons).

Corn was reported at 224,200 tons (8.8 million bushels), 83% less than the prior week and 72% below the four week average. Japan picked up 195,100 tons and unknown canceled on 153,000 tons. So far this marketing year, corn exports are 1.477 billion bushels, compared to 1.631 billion a year ago. Sales of 249,200 tons (9.8 million bushels) for 2012/13 delivery were mostly to unknown destinations (130,000 tons) and South Korea (116,000 tons).

Soybeans were pegged at 466,500 tons (17.1 million bushels), a 22% decrease from the week before and 19% under the four week average. China purchased 176,800 tons and Mexico bought 146,600 tons. At this point in the marketing year, soybean sales are 1.267 billion bushels, compared to 1.512 billion this time last year. Sales of 1,360,500 tons (50.0 million bushels) for 2012/13 delivery were primarily to China (911,000 tons).

Soybean meal was reported at 138,400 tons, up sharply on the week but down 10% from the four week average. Mexico picked up 49,700 tons and the Dominican Republic canceled on 21,600 tons. For the marketing year to date, soybean meal sales are 6,484,900 tons, compared to 6,840,900 tons a year ago. Sales of 97,100 tons for 2012/13 delivery were mostly to Canada (82,800 tons).

Soybean oil sales were 30,100 tons, mainly to China (30,000 tons. 2011/12 soybean oil sales are 402,900 tons, compared to 1,174,600 tons in 2010/11.

Net beef sales totaled 20,800 tons, 24% higher than the previous week and 9% more than the four week average. The reported buyers were Japan (6,000 tons), Canada (4,000 tons), Mexico (3,200 tons), Vietnam (1,900 tons), and Egypt (1,500 tons).