News

Export sales for soybeans hit marketing-year low

It was a less-than-stellar week for export sales as all the major commodities saw declines.

Soybean sales hit a marketing-year low and were down 14 percent from the previous week and 25 percent from the 4-week averages.  Corn export sales continue with its lackluster pace as sales dropped 27 percent on the week and 48 percent compared to the prior 4-week average. Wheat sales declined 16 percent on the week, but the 4-week average is up 39 percent.

There were substantial declines in sales for rice and cotton.

Beef sales dropped 48 percent on the week and 62 percent from the prior 4-week average and pork sales were down 40 percent on the week and down 21 percent from the prior 4-week average.

The only bright spot for the week was the noticeable increase in soybean meal sales.

The USDA’s next set of supply and demand estimates comes out March 8^th.