Another solid week for soybean exports

USDA reports corn and soybean export sales for the week ending November 7 were more than what’s needed every week to meet projections for the 2013/14 marketing year, but wheat fell short of its mark. Physical shipments of soybeans also topped what’s needed to hit the Ag Department’s estimate.

Wheat came out at 287,800 tons (10.6 million bushels), with Nigeria picking up 84,800 tons and unknown destinations bought 57,700 tons. For the 2013/14 marketing year, wheat sales are 778.8 million bushels, compared to 559.6 million in 2012/13.

Corn was reported at 1,202,900 tons (47.4 million bushels), with Mexico purchasing 301,400 tons and Japan picking up 226,800 tons. So far this marketing year, corn sales are 923.3 million bushels, compared to 439.8 million this time last year.

Soybeans were pegged at 848,500 tons (31.2 million bushels), with China buying 667,100 tons and the Netherlands purchasing 91,300 tons, while unknown destinations canceled on 231,000 tons. At this point in the marketing year, soybean sales are 1.253 billion bushels, compared to 973.7 million a year ago. Sales of 60,600 tons (2.2 million bushels) for 2014/15 delivery were mostly to China (60,000 tons).

Soybean meal came out at 283,200 tons, with Thailand picking up 100,000 tons and the Philippines buying 44,300 tons. Cumulative soybean meal sales for the current marketing year are 5,244,700 tons, compared to 4,022,200 last year.

Soybean oil was reported at 7,200 tons, with Mexico purchasing 2,400 tons and El Salvador picking up 1,900 tons. 2013/14 soybean oil sales are 152,300 tons, compared to 325,200 tons.

Net beef sales totaled 11,800 tons. The listed buyers were South Korea (2,600 tons), Hong Kong (2,300 tons), Japan (2,200 tons), Canada (2,000 tons), and Mexico (1,700 tons). Chile and Vietnam each canceled on 100 tons. Sales of 1,700 tons for 2014 delivery were to Hong Kong (1,000 tons), South Korea (500 tons), and Taiwan (200 tons).

Net pork sales totaled 7,600 tons. The reported purchasers were Mexico (2,100 tons), Japan (1,900 tons), South Korea (1,200 tons), Australia (800 tons), and Canada (800 tons).

© Copyright 2013 Brownfield, All rights Reserved. Written For: Brownfield

Speak Your Mind