China buys U.S. beef, pork and soybeans

The USDA says China bought U.S. pork during the week ending August 5th, the second week in a row with reported sales to the world’s biggest consumer of pork, just a much smaller amount. China bought 600 tons of U.S. pork last week, well below the more than 18,000 tons from the previous week, but still a positive sign for demand after being out of the market for about a month. China also bought 1,000 tons of U.S. beef, along with good amounts of old crop sorghum and old and new crop soybeans. Old crop corn exports were up sharply on the week and new crop sales were solid as the reality of Brazil’s much smaller than expected second corn crop starts to take hold. The USDA’s August supply and demand numbers were out on Thursday the 12th.Physical shipments of wheat were above what’s needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat and August 1st, 2021 for cotton and rice, while 2020/21 got underway September 1st, ...