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USDA: big week for pork export sales

The USDA says last week was a strong week for pork exports. Sales for 2019 delivery were nearly 55,000 tons, with Japan buying more than 20,000 tons and China purchasing more than 5,000 tons, while sales for 2020 topped 36,000 tons, more than 34,000 of that to China. China was also the biggest buyer of U.S. soybeans, while Japan led the way on beef and Mexico was the top buyer of corn. The USDA’s next set of supply, demand, and production numbers is out December 10th. Overall, soybean and soybean oil sales for the week ending November 14th topped pre-report expectations, while corn, soybean meal, and wheat fell within most analysts’ estimates. Physical shipments of soybeans were above what’s needed to meet USDA projections for the marketing year. The 2019/20 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 437,700 tons (16.1 million bushels), up 83% from the week ending November 7th and 29% higher than the four-week average. Unknown destinations purchased 134,200 tons and Mexico bought 98,100 tons. For the 2019/20 marketing year to date, wheat sales are 573.7 million bushels, compared to 533.3 million in 2018/19.

Corn was reported at 788,000 tons (31.0 million bushels), 36% more than the previous week and 49% above the four-week average. Mexico picked up 386,600 tons and Colombia purchased 124,900 tons, while unknown destinations canceled on 52,700 tons. Less than a quarter into the marketing year, corn sales are 522.1 million bushels, compared to 956.8 million this time last year. Sales of 45,900 tons (1.8 million bushels) for 2020/21 delivery were to Mexico (25,600 tons) and Canada (20,300 tons).

Sorghum had a net reduction of 500 tons. Mexico bought 11,200 tons, but Japan canceled on 11,700 tons. Sorghum sales are now 32.2 million bushels, compared to 11.6 million a year ago.

Rice exports were 96,300 tons, up 57% from the week before and 36% higher than the four-week average. South Korea picked up 44,000 tons and Japan purchased 26,100 tons. Nearly a third of the way through the marketing year, rice sales are 1,766,200 tons, compared to 1,344,800 last year.

Soybeans were pegged at 1,516,700 tons (55.7 million bushels), an increase of 22% from the week prior and 39% from the four-week average. China bought 568,600 tons and Germany picked up 198,000 tons, while unknown destinations canceled on 103,900 tons. So far, this marketing year, soybean sales are 871.6 million bushels, compared to 829.0 million a year ago.

Soybean meal came out at 196,400 tons, down 43% from the previous week and 12% lower than the four-week average. Peru purchased 53,000 tons and Colombia bought 38,400 tons, while Morocco canceled on 10,500 tons. At this point in the marketing year, soybean meal sales are 4,709,700 tons, compared to 5,489,600 last year.

Soybean oil was reported at 39,100 tons. South Korea picked up 24,000 tons and Colombia purchased 15,000 tons. Cumulative soybean oil sales are 306,700 tons, compared to 302,200 a year ago.

Upland cotton sales were 227,600 bales, 34% less than the week before, but 20% more than the four-week average. Vietnam bought 95,600 bales and Pakistan picked up 40,100 bales, but China canceled on 24,200 bales. 2019/20 upland cotton exports are 10,121,400 bales, compared to 9,516,600 in 2018/19. Sales of 58,200 bales for 2020/21 delivery were mainly to China (39,600 bales) and Guatemala (15,800 bales).

Net beef sales totaled 18,000 tons, a decrease of 29% on the week, but an increase of 11% on the year. The listed purchasers were Japan (8,600 tons), South Korea (2,900 tons), Taiwan (1,500 tons), Hong Kong (1,400 tons), and Mexico (1,000 tons). Net sales of 3,200 tons for 2020 delivery were mainly to Japan (2,100 tons), Hong Kong (400 tons), South Korea (400 tons), and Mexico (200 tons), with a cancellation by the Philippines (100 tons).

Net pork sales totaled 54,400 tons, a significant rise from both the prior week and the four-week average. The reported buyers were Japan (21,500 tons), Mexico (7,600 tons), Canada (6,000 tons), China (5,200 tons), and Australia (2,700 tons). Sales of 36,400 tons for 2020 delivery were primarily to China (34,300 tons) and South Korea (1,600 tons).