News

Soybean exports top 1.3 million tons

 

USDA reports wheat export sales for the week ending October 23 were larger than expected, while soybeans and soybean products were within the anticipated ranges and corn was below all estimates. Physical shipments of soybeans were above what’s needed weekly to meet USDA projections for the 2014/15 marketing year, but corn and wheat fell short of their respective marks.

Wheat came out at 444,900 tons (16.3 million bushels), up 49% from the week ending October 16, but down 5% from the four week average. Japan picked up 88,200 tons and Mexico bought 57,300 tons. For the 2014/15 marketing year to date, wheat sales are 556.2 million bushels, compared to 752.9 million in 2013/14. Sales of 14,200 tons (500,000 bushels) for 2015/16 delivery were to Costa Rica.

Corn was reported at 489,800 tons (19.3 million bushels), 53% lower than the previous week and 55% under the four week average. South Korea purchased 134,700 tons and Peru picked up 88,700 tons, but unknown destinations canceled on 90,300 tons. So far this marketing year, corn sales are 737.8 million bushels, compared to 801.3 million this time last year. Sales of 44,500 tons (1.8 million bushels) for 2015/16 delivery were mainly to Canada (25,000 tons).

Soybeans were pegged at 1,326,000 tons, 39% more than the prior week, but 10% less than the four week average. China bought 1,050,500 tons and Portugal purchased 71,500 tons, while unknown canceled on 60,000 tons. At this point in the marketing year, soybean sales are 1.253 billion bushels, compared to 1.184 billion a year ago.

Soybean meal came out at 147,800 tons. Mexico picked up 162,700 tons and Italy bought 45,000 tons, while unknown destinations canceled on 65,500 tons and Egypt canceled on 50,000 tons. Cumulative soybean meal sales for the current marketing year are 6,393,300 tons, compared to 4,673,800 last year. Sales of 5,100 tons for 2015/16 delivery were to Nicaragua (5,000 tons) and Canada (100 tons).

Soybean oil was reported at 15,800 tons, with sales of 400 to 8,800 tons partially offset by a cancellation of 3,000 tons. 2014/15 soybean oil sales are 238,000 tons, compared to 79,300 in 2013/14.

Net beef sales totaled 20,100 tons, up sharply on the week and 92% higher than the four week average. The listed buyers were Japan (4,300 tons), Hong Kong (3,600 tons), the Philippines (3,500 tons), South Korea (3,000 tons), and Mexico (2,100 tons). Sales of 200 tons for 2015 delivery were to Canada.

Net pork sales totaled 12,700 tons, down 35% from the week before and 39% lower than the four week average. The reported purchasers were Mexico (3,200 tons), South Korea (3,200 tons), Canada (1,900 tons), Japan (1,500 tons), and Hong Kong (800 tons). Sales of 300 tons for 2015 delivery were to South Korea (200 tons) and Canada (100 tons).