USDA reports wheat export sales for the week ending June 21 were below pre-report estimates, while soybean meal was above expectations, and corn, soybeans, and soybean oil were within the anticipated ranges. Physical shipments of corn, soybeans, and wheat were all less than what’s needed to meet marketing year projections.
Wheat came out at 324,500 tons (11.9 million bushels), mostly to Nigeria (85,100 tons) and unknown destinations (83,500 tons). Early in the 2012/13 marketing year, wheat sales are 246.7 million bushels, compared to 305.0 million near the start of 2011/12.
Corn was reported at 192,900 tons (7.6 million bushels), up 13% from the week ending June 14 and 10% higher than the four week average. Japan bought 135,900 tons while unknown destinations canceled on 57,600 tons. For the 2011/12 marketing year to date, corn sales are 1.532 billion bushels, compared to 1.779 billion in 2010/11. Sales of 99,900 tons (3.9 million bushels) for 2012/13 delivery were mainly to China (60,000 tons) and Japan (32,200 tons).
Soybeans were pegged at 403,900 tons (14.8 million bushels), larger than the prior week and 57% more than the four week average. China picked up 115,900 tons and unknown destinations purchasing 107,000 tons. At this point in the marketing year, soybean sales are 1.372 billion bushels, compared to 1.524 billion a year ago. Sales of 389,200 tons (14.3 million bushels) for 2012/13 delivery were primarily to China (285,000 tons).
Soybean meal was reported at 229,600 tons, 11% below the previous week but 90% above the four week average. Romania bought 45,000 tons and Mexico picked up 35,600 tons. So far this marketing year, soybean meal sales are 7,457,000 tons, compared to 7,281,700 this time last year. Sales of 31,600 tons for 2012/13 delivery were mostly to unknown destinations (30,000 tons).
Soybean meal came out at 8,300 tons, primarily to Mexico (4,700 tons). 2011/12 soybean oil sales are 481,800 tons, compared to 1,257,200 in 2010/11. Sales of 5,200 tons for 2012/13 delivery were to Mexico (4,900 tons) and Canada (300 tons).
Net beef sales were reported at 18,400 tons, up 22% from the week before and 6% higher than the four week average. The listed buyers were Mexico (4,100 tons), Japan (2,900 tons), South Korea (2,900 tons), Egypt (2,500 tons), and Canada (2,200 tons).