US: Few bright spots in weekly export numbers

Published 2023년 5월 11일

Tridge summary

The USDA's report for the week ending May 4th shows a generally bearish trend for U.S. export sales, with significant weekly declines in wheat, corn, soybean, beef, pork, rice, and soybean oil. Only soybean meal and sorghum sales saw increases. Russia's dominance in the global market has contributed to wheat's marketing year low. Meanwhile, physical shipments of soybeans have been larger than projections for the current marketing year. The USDA will release its next supply and demand report on May 12th.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA reports the week ending May 4th was generally bearish for U.S. export sales. Wheat hit a marketing year low with Russia continuing to dominate the global market, and corn, soybean, beef, pork, rice, and soybean oil also saw significant week-to-week declines. Soybean meal and sorghum sales were up sharply on the week, while cotton sales were slightly higher. Export sales are driven by several factors including seasonal supply and demand trends, currency movement, and geopolitics. The USDA’s next supply and demand report is out Friday, May 12th at Noon Eastern/11 Central.Physical shipments of soybeans were larger than what’s needed to meet projections for the current marketing year. The 2022/23 marketing year started June 1st, 2022 for wheat, August 1st, 2022 for cotton and rice, September 1st, 2022 for beans, corn, and sorghum, and October 1st, 2022 for soybean products. The marketing year for beef and pork is the calendar year.Wheat came out at 26,300 tons (1 million ...

Source: Brownfield Ag