Generally bearish week for U.S. export sales

Published 2021년 8월 26일

Tridge summary

The article reports on the recent trends in US agricultural exports, focusing on the week ending August 19th. It highlights the positive aspects, such as the strong sales of new crop soybeans, mainly to China, despite a slight decrease from the previous week. However, wheat and corn sales have seen a significant drop, with wheat sales reaching a four-week low. Despite this, rice and soybean sales are on the rise. Meanwhile, beef and pork exports have seen mixed results, with beef exports seeing a decrease and pork exports experiencing an increase. The article also notes the ongoing differences in export volumes between the 2020/21 and 2021/22 marketing years for various crops.

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

Original content

New crop soybean sales were the bright spot for exports during the week ending August 19th. The USDA says 1.75 million tons of new crop U.S. soybeans were sold, mainly to China and unknown destinations, a little bit less than the previous week, but still a solid weekly total as the U.S. starts to assume seasonal control of the soybean export market. New crop corn sales were nearly 700,000 tons with Mexico leading the way, while wheat and soybean meal both notched new marketing year lows. China did buy U.S. beef and pork, but sales for both meats were below average. The USDA’s next set of supply and demand estimates is out September 10th.Physical shipments of wheat were above the mark needed to meet USDA 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 kicked off September 1st, 2020 for corn, sorghum, and soybeans, and October 1st, 2020 for soybean products. The marketing ...

Source: Brownfield Ag