News

Strong week for pork exports

 

The USDA reports wheat export sales for the week ending July 23rd were above pre-report estimates, while soybeans and corn were within expectations. Physical shipments were below what’s needed to meet USDA projections for the current marketing year.

Wheat came out at 699,400 tons (25.7 million bushels), up 39% from the week ending July 16th and 86% higher than the four week average. Unknown destinations purchased 200,500 tons and Mexico bought 116,400 tons. For the 2015/16 marketing year to date, wheat sales are 282.4 million bushels, compared to 357.4 million in 2014/15. Sales of 1,000 tons for 2016/17 delivery were to Italy.

Corn was reported at 364,900 tons (14.4 million bushels), 63% more than the previous week, but 13% less than the four week average. Japan picked up 362,200 tons and Colombia purchased 90,000 tons, while unknown destinations canceled on 226,900 tons. At this point in the 2014/15 marketing year, corn sales are 1.855 billion bushels, compared to 1.914 billion in 2013/14. Sales of 443,300 tons (17.5 million bushels) for 2015/16 delivery were mainly to Mexico (279,500 tons) and unknown destinations (70,600 tons).

Soybeans were pegged at 416,700 tons (15.3 million bushels), quite a bit larger than both the week before and the four week average. China bought 300,000 tons and Japan picked up 74,200 tons. So far this marketing year, soybean sales are 1.877 billion bushels, compared to 1.691 billion this time last year. Sales of 899,100 tons (33.0 million bushels) for 2015/16 delivery were primarily to unknown destinations (405,400 tons) and China (346,000 tons).

Soybean meal came out at 71,500 tons, up 9% on the week, but down 1% from the four week average. Venezuela purchased 40,000 tons and Colombia bought 14,000 tons, while unknown destinations canceled on 23,800 tons. Cumulative soybean meal sales are 11,293,400 tons, compared to 10,083,700 a year ago. Sales of 80,300 tons for 2015/16 delivery were mostly to Mexico (54,200 tons) and Jamaica (10,000 tons).

Soybean oil sales hit a new marketing year high at 74,800 tons. Venezuela picked up 55,000 tons and Panama bought 15,000 tons. 2014/15 soybean oil sales are 853,500 tons, compared to 795,200 in 2013/14.

Net beef sales totaled 6,200 tons, a decline of 39% on the week and 46% less than the four week average. The reported purchasers were Japan (2,000 tons), Canada (1,200 tons), Mexico (800 tons), Hong Kong (600 tons), and South Korea (500 tons).

Net pork sales totaled 22,100 tons, an increase of 90% from the previous week and 8% more than the four week average. The listed buyers were Mexico (8,700 tons), Japan (4,100 tons), Canada (2,600 tons), Honduras (900 tons), and South Korea (700 tons).