News

Grain, oilseed exports up on week

The USDA reports corn export sales for the week ending January 9th were a little larger than expected, while soybeans and wheat were within pre-report estimates.

Wheat came out at 274,700 tons (10.1 million bushels), up sharply from the week ending December 31st, but down 3% from the four week average. The Philippines purchased 158,900 tons and Italy bought 30,100 tons. For the 2015/16 marketing year to date, wheat sales are 590.8 million bushels, compared to 695.7 million in 2014/15. Sales of 16,000 tons (600,000 bushels) for 2016/17 delivery were to the Philippines.

Corn was reported at 669,200 tons (26.3 million bushels), higher than the previous week and 14% more than the four week average. Japan picked up 310,200 tons and Mexico purchased 145,500 tons. So far this marketing year, corn sales are 831.5 million bushels, compared to 1.109 billion this time last year.

Soybeans were pegged at 1,127,400 tons (41.4 million bushels), 77% above the week before and up 13% from the four week average. China bought 775,300 tons and the Netherlands picked up 227,100 tons, but unknown destinations canceled on 292,300 tons. At this point in the marketing year, soybean sales are 1.441 billion bushels, compared to 1.623 billion a year ago. Sales of 100 tons for 2016/17 delivery were to Japan.

Soybean meal came out at 64,700 tons, 39% higher than the prior week, but 47% lower than the four week average. Mexico purchased 40,300 tons and Morocco bought 9,400 tons, while Egypt canceled on 27,500 tons. Cumulative soybean meal sales for the current marketing year are 6,186,300 tons, compared to 7,470,900 last year.

Soybean oil was reported at 41,200 tons, larger than both the previous week and the four week average. Switzerland picked up 14,500 tons and Peru purchased 13,000 tons. 2015/16 soybean oil sales are 591,200 tons, compared to 489,300 in 2014/15.

Net beef sales totaled 9,000 tons. The listed buyers were South Korea (3,900 tons), Japan (2,600 tons), Mexico (1,200 tons), Canada (600 tons), and Hong Kong (300 tons), with a cancellation by Jordan (100 tons).

Net pork sales totaled 12,400 tons. The reported purchasers were Mexico (5,900 tons), Canada (1,800 tons), Japan (1,800 tons), Chile (1,300 tons), and South Korea (600 tons), with a cancellation by China (700 tons). Sales of 100 tons for 2017 delivery were to Hong Kong.