News

Another quiet week for export sales

The USDA reports soybean, soybean product, and wheat export sales for the week ending June 14th were within most pre-report expectations. The 2018/19 marketing year for wheat got underway June 1st, while 2017/18 runs through the end of August for corn, soybeans, and sorghum and the end of September for soybean products.

Wheat came out at 461,600 tons (17.0 million bushels). The Philippines purchased 137,000 tons and Japan bought 115,000 tons, while unknown destinations canceled on 13,000 tons. Two reporting weeks into the 2018/19 marketing year, wheat sales are 183.3 million bushels, compared to 276.5 million towards the outset of 2017/18.

Corn was reported at 165,900 tons (6.5 million bushels), down 82% from both the week ending June 7th and the four-week average. Mexico picked up 214,800 tons and Japan purchased 142,600 tons, but unknown destinations canceled on 584,700 tons. With less than a quarter left in 2017/18, corn sales are 2.221 billion bushels, compared to 2.171 billion late in 2016/17. Sales of 339,700 tons (13.4 million bushels) for 2018/19 delivery were mainly to South Korea (191,000 tons) and Mexico (73,000 tons).

Sorghum sales were 55,000 tons (2.2 million bushels), all to unknown destinations. Cumulative sales this marketing year are 203.1 million bushels, compared to 174.4 million a year ago.

Soybeans were pegged at 301,700 tons (11.1 million bushels), 42% lower than the previous week, but 48% higher than the four-week average. The Netherlands bought 240,300 tons and Vietnam picked up 82,300 tons, but unknown destinations canceled on 204,300 tons and China canceled on 66,000 tons. For the marketing year to date, soybean sales are 2.074 billion bushels, compared to 2.170 billion this time last year. Sales of 227,600 tons (8.4 million bushels) for 2018/19 delivery were primarily to unknown destinations (172,000 tons) and Japan (23,100 tons).

Soybean meal came out at 115,100 tons, 54% above the week before, but 22% below the four-week average. Colombia purchased 31,600 tons and Japan bought 19,300 tons. At this point in the marketing year, soybean meal sales are 11,228,900 tons, compared to 9,920,000 a year ago. Sales of 5,000 tons for 2018/19 delivery were mostly to Japan (2,300 tons) and Guatemala (1,800 tons).

Soybean oil was reported at 16,000 tons, a big increase from the prior week and 91% more than the four-week average. Colombia picked up 7,000 tons and Jamaica purchased 3,500 tons. 2017/18 soybean oil sales are 903,800 tons, compared to 970,400 in 2016/17. Sales of 2,800 tons for 2018/19 delivery were to Canada.

Net beef sales totaled 16,700 tons, down 25% on the week and 15% lower than the four-week average. The listed buyers were South Korea (4,800 tons), Japan (3,300 tons), Mexico (3,300 tons), Hong Kong (1,500 tons), and Taiwan (1,400 tons).

Net pork sales totaled 9,600 tons, a decrease of 35% from the previous week and 42% under the four-week average. The reported purchasers were Japan (2,500 tons), Canada (1,200 tons), Colombia (1,100 tons), Australia (900 tons), and Mexico (900 tons).