Beef, wheat sales up sharply on week

The USDA reports wheat export sales for the week ending August 9th hit a new marketing year high. The 2018/19 marketing year for wheat got underway June 1st, while 2017/18 continues through the end of August for corn, sorghum, and soybeans, and the end of September for soybean products.

Wheat came out at 803,000 tons (29.5 million bushels), up sharply from both the week ending August 2nd and the four-week average. Mexico purchased 247,800 tons and the Philippines bought 177,900 tons. For the 2018/19 marketing year to date, wheat sales are 305.6 million bushels, compared to 410.1 million in 2017/18.

Corn was reported at 339,000 tons (13.3 million bushels), down 39% from the previous week and 26% lower than the four-week average. Japan picked up 263,100 tons and Colombia purchased 133,300 tons, but unknown destinations canceled on 157,700 tons. Nearing the end of the 2017/18 marketing year, corn sales are 2.372 billion bushels, compared to 2.223 billion late in 2016/17. Sales of 1,044,800 tons (41.1 million bushels) for 2018/19 delivery were mainly to unknown destinations (320,000 tons) and Mexico (298,100 tons).

Sorghum sales of 30,100 tons (1.2 million bushels) were to Spain (30,000 tons) and South Korea (100 tons). Cumulative sorghum exports this marketing year are 199.9 million bushels, compared to 190.9 million this time last year.

Soybeans were pegged at 133,400 tons (4.9 million bushels), 68% less than the week before and a decline of 52% from the four-week average. Iran bought 133,500 tons and the Netherlands picked up 108,600 tons, but unknown destinations canceled on 205,500 tons. So far, this marketing year, soybean sales are 2.156 billion bushels, compared to 2.246 billion a year ago. Sales of 571,600 tons (21.0 million bushels) for 2018/19 delivery were primarily to unknown destinations (373,200 tons) and Mexico (102,000 tons).

Soybean meal came out at 207,200 tons, a jump of 89% from the prior week and 71% higher than the four-week average. Colombia purchased 48,000 tons and the Philippines bought 47,200 tons, while unknown destinations canceled on 28,400 tons. With about a month and a half left in the marketing year, soybean meal sales are 12,238,700 tons, compared to 10,222,300 last year. Sales of 147,300 tons for 2018/19 delivery were mostly to the Philippines (135,900 tons) and Jamaica (6,000 tons).

Soybean oil was reported at 4,800 tons, 56% below the previous week and 39% under the four-week average. Colombia picked up 2,500 tons and Mexico purchased 1,400 tons. 2017/18 soybean oil sales are 1,031,800 tons, compared to 1,104,300 in 2016/17. Sales of 300 tons for 2018/19 delivery were to Canada.

Net beef sales totaled 21,500 tons, an increase of 48% on the week and 76% from the four-week average. The listed buyers were South Korea (7,000 tons), Japan (4,900 tons), Mexico (2,700 tons), Hong Kong (2,300 tons), and Canada (1,800 tons). Sales of 500 tons for 2019 delivery were to South Korea (400 tons) and Japan (100 tons).

Net pork sales totaled 26,700 tons, up 7% from the week before and 5% higher than the four-week average. The reported purchasers were South Korea (9,800 tons), Mexico (4,600 tons), Australia (2,100 tons), and Hong Kong (1,300 tons), with a cancellation by Honduras (100 tons).

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