News

Soybean sales nearly 80 million bushels

 

 

USDA reports corn and soybean export sales for the week ending October 16 were above what’s needed weekly to meet USDA projections for the 2014/15 marketing year. Physical shipments of soybeans were also more than what’s needed to meet the Ag Department’s expectations.

Wheat came out at 299,400 tons (11.0 million bushels), down 34% from the week ending October 9 and 39% lower than the four week average. Japan picked up 92,300 tons and the Philippines bought 68,700 tons. For the 2014/15 marketing year to date, wheat sales are 539.9 million bushels, compared to 704.8 million in 2013/14.

Corn was reported at 1,031,200 tons (40.6 million bushels), 46% less than the previous week and 11% below the four week average. Unknown destinations purchased 576,200 tons and Japan picked up 167,300 tons. At this point in the marketing year, corn sales are 718.6 million bushels, compared to 629.0 million this time last year.

Soybeans were pegged at 2,166,800 tons (79.6 million bushels). China bought 1,701,400 tons and Spain purchased 138,000 tons, while unknown destinations canceled on 175,100 tons. So far this marketing year, soybean sales are 1.204 billion bushels, compared to 1.010 billion a year ago. Sales of 3,300 tons (100,000 bushels) for 2015/16 delivery were to Japan.

Soybean meal came out at 23,000 tons. Panama picked up 34,300 tons and the Dominican Republic bought 32,500 tons, but unknown destinations canceled on 77,700 tons. Early in the marketing year, cumulative soybean meal sales are 6,245,500 tons, compared to 3,868,500 last year.

Soybean oil was reported at 10,600 tons. Sales ranged from 1,000 to 11,000 tons, but unknown destinations canceled on 17,000 tons. 2014/15 soybean oil sales are 222,100 tons, compared to 64,700 near the start of 2013/14.

Net beef sales totaled 7,600 tons, down 5% from the week before and 34% lower than the four week average. The listed buyers were South Korea (3,200 tons), Hong Kong (1,300 tons), Canada (1,100 tons), Mexico (600 tons), and Taiwan (400 tons).

Net pork sales totaled 19,600 tons, an increase of 6% on the week, but a decrease of 7% from the four week average. The reported purchasers were South Korea (6,700 tons), Japan (4,900 tons), Canada (3,000 tons), Mexico (2,200 tons), and Hong Kong (900 tons). Sales of 500 tons for 2015 delivery were to Japan.