A solid week for U.S. export sales

The USDA says the first full business week of 2021 was generally a good week for U.S. export sales. Wheat, sorghum, soybean, soybean oil, and rice sales during the week ending January 14th were all up solidly from the previous week, soybean meal hit a marketing year high for the second week in a row, and while corn sales were unchanged, they were up 51% from the four-week average. Meat sales also improved – pork came out at more than 45,000 tons, with Mexico, China, and Canada taking the top slots, and beef was pegged at 24,500 tons, mainly to Japan, China, and South Korea. The USDA’s next set of supply and demand estimates is out February 9th.Physical shipments of sorghum and soybeans were more than what’s needed to meet USDA projections for the current marketing year. The 2020/21 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. The marketing year for beef and pork is the ...