USDA reports soybean export sales for the week ending November 21 were larger than expected, while corn, wheat, soybean meal, and soybean oil were within pre-report estimates. Physical shipments of soybeans were above what’s needed weekly to meet USDA projections for the 2013/14 marketing year, but corn and wheat fell short of their respective marks.
Wheat came out at 562,200 tons (20.7 million bushels), with Nigeria purchasing 136,800 tons and unknown destinations buying 118,600 tons. For the 2013/14 marketing year to date, wheat sales are 822.1 million bushels, compared to 593.2 million in 2012/13.
Corn was reported at 1,007,000 tons (39.6 million bushels), with unknown destinations picking up 339,400 tons and South Korea purchasing 178,700 tons. So far this marketing year, corn sales are 1.000 billion bushels, compared to 479.4 million this time last year.
Soybeans were pegged at 1,405,900 tons (51.7 million bushels), with China buying 992,900 tons and Germany picking up 91,300 tons. At this point in the marketing year, soybean sales are 1.352 billion bushels, compared to 1.002 billion a year ago. Sales of 364,900 tons (13.4 million bushels) were mostly to China (240,000 tons) and unknown destinations (120,000 tons).
Soybean meal came out at 307,900 tons, with Germany purchasing 66,500 tons and unknown destinations buying 57,300 tons. Cumulative soybean meal sales for the current marketing year are 5,668,600 tons, compared to 4,585,100 last year.
Soybean oil was reported at 18,800 tons, with China picking up 36,000 tons and Mexico purchasing 9,500 tons, but unknown destinations canceled on 33,500 tons. 2013/14 soybean oil sales are 266,900 tons, compared to 570,900 in 2012/13.
Net beef sales totaled 9,500 tons. The listed buyers were South Korea (3,000 tons), Mexico (2,400 tons), Japan (1,500 tons), Canada (900 tons), and Hong Kong (700 tons). Sales of 2,100 tons for 2014 delivery were to Japan (1,900 tons) and South Korea (200 tons).
Net pork sales totaled 8,700 tons. The reported purchasers were Mexico (3,200 tons), Japan (1,900 tons), South Korea (1,200 tons), Canada (600 tons), and Hong Kong (400 tons).