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Beef export sales up on week

USDA reports corn, wheat, soybean meal, and soybean oil export sales for the week ending November 1 were within pre-report estimates, while soybeans were below expectations.

Wheat came out at 209,400 tons (7.7 million bushels), down 42% from the week ending October 25 and 48% lower than the four week average. South Korea was the leading buyer at 101,700 tons, while the Philippines canceled on 55,100 tons. At this point in the 2012/13 marketing year, wheat sales are 548 million bushels, compared to 605.7 million in 2011/12.

Corn was reported at 157,600 tons (6.2 million bushels), 6% less than the previous week but 31% more than the four week average. Mexico picked up 67,900 tons and China bought 54,500 tons. For the marketing year to date, corn sales are 435.7 million bushels, compared to 840.1 million this time last year. Sales of 51,800 tons (2.0 million bushels) for 2013/14 delivery were to Japan.

Soybeans were pegged at 186,400 tons (6.8 million bushels), with China buying 274,800 tons and unknown destinations canceling on 545,600 tons. So far this marketing year, soybean sales are 953.1 million bushels, compared to 702.7 million a year ago. Sales of 5,500 tons (200,000 bushels) for 2013/14 delivery were to Japan.

Soybean meal came out at 194,500 tons, mainly to Venezuela (73,500 tons). Unknown destinations canceled on 65,200 tons. Cumulative sales for the current marketing year are 3,787,600 tons, compared to 3,034,100 tons last year.

Soybean oil was reported at 36,700 tons, primarily to China (25,000 tons). 2012/13 soybean oil sales are 304,200 tons, compared to 108,100 in 2011/12.

Net beef sales totaled 19,400 tons, 33% above the week before and 28% larger than the four week average. The listed buyers were South Korea (3,900 tons), Mexico (3,700 tons), Canada (3,100 tons), Japan (2,200 tons), and Vietnam (1,500 tons). Sales of 800 tons for 2013 delivery were mostly to Japan (400 tons) and Mexico (200 tons).

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