Slow pace continues for soybean and corn export sales in the US

Published 2023년 6월 29일

Tridge summary

Export demand for old crop U.S. corn and soybeans remains slow near the end of the marketing year, with sales and shipments falling behind last marketing year. Brazil is providing stiff competition. Wheat exports for the 2023/24 marketing year are lower compared to the previous year, while rice sales have seen a significant increase. Beef and pork sales have decreased, while soybean meal and soybean oil sales are mixed.

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

Original content

Old crop U.S. corn and soybeans continue to see slow export demand near the end of the marketing year. The USDA says corn sales during the week ending June 22nd improved slightly from the previous week, but were lower than average, while soybeans fell sharply, both getting a lot of competition from Brazil. With just over two months remaining in the current marketing year for beans and corn, sales and shipments are behind last marketing year. Old crop cotton, rice, sorghum, and soybean oil, and new crop wheat sales were above a week ago. Beef, pork, and old crop soybean meal sales were down. Export demand is governed by several factors, including seasonal trends and currency movement. The USDA’s next set of supply and demand estimates is out July 12th.Physical shipments of corn, soybeans, and wheat were less than what’s needed to meet USDA projections for the current marketing year. The 2023/24 marketing year got underway June 1st, 2023 for wheat, while 2022/23 kicked off August ...

Source: Brownfield Ag