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Mixed week for U.S. export sales

The USDA says the week ending December 24th was a mixed week for the U.S. export numbers. China was the biggest buyer of sorghum, soybeans, and wheat, while unknown destinations led the way on corn and that could turn out to be China when it’s time for delivery. Rice and cotton sales were both down on the week and lower than average and soybean meal hit a marketing year low, but soybean oil was nearly triple the previous week’s total. Pork for 2020 delivery fell sharply, but sales for 2021 delivery topped 45,000 tons, including more than 20,000 tons to China, and beef sales combined to hit nearly 30,000 tons. The USDA’s next set of supply and demand estimates is out January 12th.

Physical shipments of sorghum and soybeans were more than what’s needed to meet projections for the current marketing year. The 2020/21 marketing year started June 1st for wheat, August 1st for cotton and rice, September 1st for beans, corn, and sorghum, and October 1st for soybean products.

Wheat came out at 520,600 tons (19.1 million bushels), up 32% from the week ending December 17th and 4% from the four-week average. China purchased 133,200 tons and the Philippines bought 80,900 tons. More than halfway through the 2020/21 marketing year, wheat sales are 755.6 million bushels, compared to 692.8 million in 2019/20.

Corn was reported at 964,500 tons (38.0 million bushels), 48% more than the previous week, but 27% less than the four-week average. Unknown destinations picked up 246,000 tons and Japan purchased 117,400 tons. Early in the second quarter of the marketing year, corn sales are 1.701 billion bushels, compared to 722.6 million this time last year.

Sorghum sales were 44,300 tons (1.7 million bushels), down 31% from the week before and 76% from the four-week average, all to China. At this point in the marketing year, sorghum sales are 200.3 million bushels, compared to 42.8 million a year ago. Sales of 53,000 tons (2.1 million bushels) for 2021/22 delivery were to China.
Rice sales were 47,100 tons, 58% lower than the prior week and 55% below the four-week average. Haiti bought 29,600 tons. Rice exports are 1,849,500 tons, compared to 2,137,900 last year.

Soybeans were pegged at 695,400 tons (25.6 million bushels), a jump of 97% on the week and 25% from the four-week average. China picked up 619,700 tons and Egypt purchased 91,800 tons, while unknown destinations canceled on 588,100 tons. So far, this marketing year, soybean sales are 2.016 billion bushels, compared to 1.081 billion a year ago. Sales of 315,800 tons (11.6 million bushels) for 2021/22 delivery were mainly to unknown destinations (185,000 tons) and China (126,000 tons).

Soybean meal came out at 76,200 tons. Ecuador bought 34,300 tons and Guatemala picked up 28,700 tons, while unknown destinations canceled on 30,000 tons. Nearing the end of the first quarter, soybean meal sales are 5,826,000 tons, compared to 5,538,600 last year.

Soybean oil was reported at 60,700 tons. Unknown destinations purchased 33,000 tons and Peru bought 17,500 tons. Cumulative soybean oil sales are 487,600 tons, compared to 425,700 a year ago.

Upland cotton was pegged at 287,900 bales, 30% under then previous week and down 24% from the four-week average. Vietnam picked up 82,600 bales and Pakistan purchased 51,200 bales. 2020/21 upland cotton exports are 11,385,100 bales, compared to 11,474,500 in 2019/20. Sales of 15,100 bales for 2021/22 delivery were to China (13,200 bales) and Mexico (1,900 bales).

Net beef sales totaled 14,900 tons, a big increase from the prior week and 82% larger than the four-week average. The listed buyers were Japan (3,900 tons), China (3,100 tons), South Korea (2,900 tons), Mexico (1,500 tons), and Canada (900 tons). Shipments of 27,600 tons were also a big increase from the week before and 63% higher than the four-week average, primarily to Japan (6,900 tons), South Korea (6,200 tons), China (4,400 tons), Mexico (4,300 tons), and Taiwan (1,900 tons). Sales of 14,400 tons for 2021 delivery were mostly to South Korea (9,800 tons), Taiwan (2,300 tons), Japan (700 tons), the Philippines (400 tons), and Canada (300 tons).

Net pork sales totaled 7,700 tons, a decrease of 53% on the week and 73% from the four-week average. The reported purchasers were Mexico (10,300 tons), El Salvador (1,700 tons), China (1,600 tons), Japan (900 tons), and Canada (500 tons), with net cancellations for South Korea (4,200 tons), Chile (1,800 tons), and Colombia (700 tons). Shipments of 39,400 tons were 3% lower than the previous week and 1% less than the four-week average, mainly to Mexico (13,400 tons), China (13,300 tons), Japan (4,100 tons), South Korea (2,300 tons), and Canada (1,500 tons). Sales of 46,300 tons for 2021 delivery were primarily to China (22,700 tons), South Korea (5,800 tons), Japan (4,000 tons), Mexico (3,800 tons), and Colombia (2,100 tons).

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