Post

Wheat exports top estimates

Programs ICON

The USDA reports wheat export sales for the week ending June 23rd were larger than expected, while combined old and new crop corn and soybean sales were within pre-report estimates. The 2015/16 marketing year for corn and soybeans runs through August.

Wheat came out at 645,300 tons (23.7 million bushels). South Korea purchased 116,600 tons and Colombia bought 82,800 tons, but unknown destinations canceled on 84,800 tons. Less than a month into the 2016/17 marketing year, wheat sales are 280.6 million bushels, compared to 214.8 million towards the outset of 2015/16.

Corn was reported at 468,500 tons (18.4 million bushels), down 46% from the week ending June 16th and 59% lower than the four week average. South Korea picked up 259,800 tons and Japan purchased 140,300 tons, but unknown destinations canceled on 461,800 tons. For the 2015/16 marketing year to date, corn sales are 1.846 billion bushels, compared to 1.798 billion with about a quarter left in 2014/15. Sales of 536,100 tons (21.1 million bushels) for 2016/17 delivery were mainly to South Korea (138,000 tons) and Mexico (135,900 tons).

Sorghum sales were 84,600 tons, 50% less than the week before and 38% under the four week average. China bought 112,600 tons and Columbia picked up 25,000 tons. Sorghum sales this marketing year are 305.1 million bushels, compared to 330.7 million a year ago.

Soybeans were pegged at 730,000 tons (26.8 million bushels), up 11% from the previous week and 15% higher than the four week average. Unknown destinations purchased 462,000 tons and Indonesia bought 91,000 tons. At this point in the marketing year, soybean sales are 1.862 billion bushels, compared to 1.855 billion this time last year. Sales of 798,000 tons (29.3 million bushels) for 2016/17 delivery were primarily to China (372,000 tons) and unknown destinations (285,000 tons).

Soybean meal came out at 115,500 tons, a decrease of 29% from the prior week, but an increase of 28% from the four week average. Mexico picked up 35,100 tons and Venezuela purchased 25,000 tons. Cumulative soybean meal sales for the current marketing year are 9,816,100 tons, compared to 11,021,300 a year ago. Sales of 44,100 tons for 2016/17 delivery were to the Philippines (40,000 tons) and Canada (4,100 tons).

Soybean oil was reported at 62,400 tons, up sharply from both the previous week and the four week average. China bought 40,000 tons and Venezuela picked up 15,000 tons. 2015/16 soybean oil sales are 1,047,200 tons, compared to 755,600 in 2014/15.

Net beef sales totaled 14,600 tons, down 10% on the week, but up 8% from the four week average. The listed purchasers were South Korea (5,300 tons), Hong Kong (2,300 tons), Japan (2,100 tons), Mexico (1,700 tons), and Canada (1,600 tons). Sales of 400 tons for 2017 delivery were to Canada.

Net pork sales totaled 13,300 tons, a decrease of 34% on the week and 26% less than the four week average. The reported buyers were Mexico (4,500 tons), Canada (2,300 tons), Japan (2,300 tons), Hong Kong (2,000 tons), and Colombia (900 tons).

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!