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Weekly soybean sales top 2 million tons

 

The USDA reports soybean export sales for the week ending October 15th were larger than expected, while wheat was within estimates and corn was below the pre-report range. Physical shipments of soybeans were above what’s needed weekly to meet USDA projections for the 2015/16 marketing year, but corn and wheat fell short of their respective marks.

Wheat came out at 357,500 tons (13.1 million bushels), down 22% from the week ending October 8th, but up 29% from the four week average. The Philippines purchased 133,900 tons and unknown destinations bought 44,800 tons. For the 2015/16 marketing year to date, wheat sales are 448.3 million bushels compared to 539.9 million in 2014/15. Net sales of 1,700 tons (100,000 bushels) for 2016/17 delivery occurred with sales of 100 to 5,200 tons offset by a cancellation of 5,200 tons.

Corn was reported at 248,000 tons (9.8 million bushels), were 59% lower than the previous week and 57% below the four week average. Japan picked up 103,500 tons and Colombia purchased 73,400 tons. So far this marketing year, corn sales are 467.7 million bushels, compared to 718.6 million this time last year.

Soybeans were pegged at 2,030,800 tons (74.6 million bushels), 43% higher than the week before and 26% above the four week average. China bought 2,214,000 tons and Mexico picked up 177,600 tons, but unknown destinations canceled on 612,000 tons. At this point in the marketing year, soybean sales are 932.6 million bushels, compared to 1.203 billion a year ago. Sales of 1,600 tons (100,000 bushels) for 2016/17 delivery were to Japan.

Soybean meal came out at 264,400 tons, 17% more than the prior week. Mexico purchased 101,400 tons and unknown destinations bought 34,900 tons. Early in the marketing year, soybean meal sales are 4,177,000 tons, compared to 6,245,500 last year. Sales of 4,700 tons for 2016/17 delivery were to Mexico (4,800 tons), with a cancellation by Canada (100 tons).

Soybean oil was reported at 24,800 tons, 53% less than the previous week. The Dominican Republic picked up 12,100 tons and Guatemala purchased 4,400 tons. 2015/16 U.S. soybean oil sales are 295,200 tons, compared to 222,100 in 2014/15.

Net beef sales totaled 9,300 tons, a decline of 33% on the week and 22% under the four week average. The listed buyers were Japan (3,600 tons), Mexico (1,800 tons), South Korea (1,700 tons), Senegal (1,100 tons), and Hong Kong (500 tons), with cancellations by Egypt (400 tons) and the Philippines (100 tons). Sales of 500 tons for 2016 delivery were mainly to Hong Kong (300 tons).

Net pork sales totaled 8,600 tons, a drop of 64% from the prior week and down 60% from the four week average. The reported purchasers were Japan (2,800 tons), South Korea (1,600 tons), Mexico (1,200 tons), Colombia (800 tons), and China (600 tons). Sales of 1,200 tons for 2016 delivery were to South Korea.