Export Sales Corn Outperforms Previous Month- USDA
Soybean Sales- 736,000 MT
Down 36% from the previous week and 18% from the prior 4-week average. Increases primarily for China 782,400 MT, Japan 96,300 MT, and Indonesia 86,000 MT. Export commitments are running 4.7% ahead of a year ago, versus 5.4% ahead last week. USDA projects exports in 2022-23 at 1.990 billion bu., down 8.0% from the previous marketing year.
Net sales of 736,000 MT in 2022/2023 showed a decrease of 36 percent from the previous week and 18 percent from the prior 4-week average. Despite the decrease, China recorded the highest increase with 782,400 MT of net sales, including 613,000 MT switched from unknown destinations, while Japan, Indonesia, Taiwan, and the Netherlands also recorded increases. On the other hand, reductions were primarily reported for unknown destinations with 523,200 MT of net sales. Meanwhile, net sales of 192,000 MT in 2023/2024 were reported, with 132,000 MT for unknown destinations and 60,000 MT for China
Corn Sales- 1,593,200 MT
Up 75% from the previous week and up noticeably from the prior 4-week average. Unknown Destinations gobbled up 423,100 MT, Mexico 323,600 MT, and China 319,500 MT. Export commitments are 43.2% behind a year ago compared to 45.3% behind last week. USDA projects exports in 2022-23 at 1.925 billion bu., 22% below the previous marketing year.
USDA export sales report showed 1,593,200 MT for 2022/2023 rose 75 percent from the previous week and significantly from the previous 4-week average, primarily due to increases in sales to unknown destinations 423,100 MT, Mexico 323,600 MT, China (319,500 MT, including 136,000 MT transferred from unknown destinations and 140,000 MT received late), Colombia 196,500 MT, and El Salvador 55,300 MT, including 34,800 MT transferred from Guatemala and a decrease of 2,800 MT.
Wheat Sales- 136,400 MT
Sales for 2022/2023 were down 73% from the previous week and 51% from the prior 4-week average. Egypt, Jamaica, and Singapore attributed the bulk of the sales this week, with 104,000 MT between them. Export commitments run 6.3% behind a year ago, compared to 6.8% last week. USDA projects exports in 2022-23 at 775 million bu., down 3.1% from the previous marketing year.
136,400 metric tons for 2022/2023 decreased by 73% from the previous week and 51% from the prior 4-week average. Increases in net sales occurred in Egypt (60,000 MT switched from unknown destinations). Jamaica 22,000 MT, Singapore (22,000 MT switched from Thailand), Trinidad and Tobago (17,400 MT, including 9,500 MT switched from the Dominican Republic).
Beef- 25,200 MT
The biggest buyers, are South Korea, Japan, and China
Mexico, Japan, and Canada taking the bulk.