News

Strong week for pork exports

The USDA reports soybean export sales for the week ending February 4th were above most pre-report estimates, while wheat and soybean meal were within the anticipated ranges and corn and soybean oil were below expectations.

Wheat came out at 263,300 tons (9.7 million bushels), up sharply from the week ending January 28th and 6% higher than the four week average. Mexico purchased 83,700 tons and Indonesia bought 65,000 tons, while unknown destinations canceled on 71,200 tons. For the 2015/16 marketing year to date, wheat sales are 626.1 million bushels, compared to 762.2 million in 2014/15. Sales of 36,000 tons (1.3 million bushels) for 2016/17 delivery were mainly to Thailand (25,800 tons).

Corn was reported at 405,000 tons (15.9 million bushels), down 64% from the previous week and 57% lower than the four week average. Japan picked up 113,700 tons and Colombia purchased 71,800 tons. So far this marketing year, corn sales are 969.7 million bushels, compared to 1.305 billion this time last year. Net reductions of 58,900 tons (-2.3 million bushels) for 2016/17 delivery were due to a cancellation by Japan.

Soybeans were pegged at 666,800 tons (24.5 million bushels), considerably larger than the week before and 1% more than the four week average. China bought 686,600 tons and Indonesia picked up 147,900 tons, but unknown destinations canceled on 467,900 tons. At this point in the marketing year, soybean sales are 1.517 billion bushels, compared to 1.696 billion a year ago. Net reductions of 65,800 tons (2.4 million bushels) for 2016/17 delivery were due to a cancellation by Japan.

Soybean meal came out at 189,400 tons, 2% above the prior week and up 4% from the four week average. The Philippines purchased 70,800 tons and Colombia bought 43,200 tons, while unknown destinations canceled on 52,300 tons. Cumulative soybean meal sales for the current marketing year are 7,043,600 tons, compared to 8,537,600 last year.

Soybean oil was reported at 3,800 tons, down 71% from the previous week and 82% lower than the four week average. Mexico picked up 1,300 tons and the Dominican Republic and Guatemala both purchased 1,000 tons. 2015/16 soybean oil sales are 636,300 tons, compared to 548,300 in 2014/15.

Net beef sales totaled 10,600 tons, an increase of 12% on the week, but a decrease of 8% from the four week average. The listed buyers were Japan (5,100 tons), South Korea (2,000 tons), Hong Kong (1,200 tons), Canada (800 tons), and Mexico (600 tons).

Net pork sales totaled 25,900 tons, up 40% from the prior week and 35% higher than the four week average. The reported purchasers were China (15,000 tons), Japan (4,200 tons), South Korea (2,100 tons), Mexico (1,500 tons), and Hong Kong (900 tons).