News

Corn, pork exports hit new marketing year highs

The USDA reports corn export sales for the week ending April 21st were larger than expected and a new marketing year high. U.S. pork exports were also a new marketing year high.

Wheat came out at 351,900 tons (12.9 million bushels), up 19% from the week ending April 14th and larger than the four week average. Mexico purchased 118,800 tons and Taiwan bought 43,400 tons. For the 2015/16 marketing year to date, wheat sales are 733.7 million bushels, compared to 853.4 million in 2014/15. Sales of 454,700 tons (16.7 million bushels) for 2016/17 delivery were mainly to unknown destinations (167,300 tons) and the Dominican Republic (120,000 tons).

Corn was reported at 2,160,600 tons (85.1 million bushels), 80% higher than the previous week and greater than the four week average. Japan picked up 567,400 tons and unknown destinations purchased 483,200 tons. At this point in the marketing year, corn sales are 1.460 billion bushels, compared to 1.587 billion this time last year. Sales of 440,000 tons (17.3 million bushels) for 2016/17 delivery were primarily to unknown destinations (195,300 tons) and Japan (160,000 tons).

Sorghum sales of 50,500 tons (2.0 million bushels) occurred following sales to unknown destinations (53,500 tons) and Mexico (1,000 tons), and a cancellation by China (4,100 tons). Sales for this marketing year are 261.4 million bushels, compared to 317.8 million a year ago.

Soybeans were pegged at 226,000 tons (8.3 million bushels), down 45% from the week before and 36% lower than the four week average. Mexico bought 78,600 tons and Bangladesh picked up 55,000 tons. So far this marketing year, soybean sales are 1.671 billion bushels, compared to 1.802 billion last year. Sales of 720,400 tons (26.5 million bushels) for 2016/17 delivery were mostly to Mexico (375,500 tons) and China (180,000 tons).

Soybean meal came out at 209,600 tons, 59% more than the prior week and 49% above the four week average. Unknown destinations purchased 73,400 tons and Mexico bought 42,500 tons. Cumulative soybean meal sales for the current marketing year are 8,830,500 tons, compared to 10,140,200 a year ago. Sales of 63,800 tons for 2016/17 delivery were mainly to unknown destinations (55,600 tons).

Soybean oil was reported at 9,600 tons, a decrease of 10% on the week, but an increase of 65% on the year. Mexico picked up 4,000 tons and Colombia purchased 2,000 tons. 2015/16 soybean oil sales are 748,600 tons, compared to 662,800 in 2014/15.

Net beef sales totaled 12,100 tons, down 3% from the previous week and 31% lower than the four week average. The listed buyers were Japan (6,700 tons), Mexico (1,300 tons), South Korea (1,300 tons), Canada (1,100 tons), and Taiwan (700 tons).

Net pork sales totaled 60,900 tons. The reported purchasers were Mexico (31,500 tons), China (20,400 tons), Japan (3,700 tons), South Korea (2,500 tons), and Canada (1,100 tons), with a cancellation by Costa Rica (100 tons).