USA: Sorghum, cotton sales hit marketing year highs

The USDA’s reporting a mixed export sales for the major commodities during the week ending October 26th. Sorghum and upland cotton both notched new marketing year highs, with China leading the way for both, while pork, rice, and soybean oil also saw solid week-to-week improvements. Beef, corn, soybean, wheat, and soybean meal sales were below a week ago. The USDA’s next set of supply and demand projections is out November 9th.The 2023/24 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 calendar year.Wheat came out at 275,600 tons (10.1 million bushels), down 24% from the week ending October 19th and 43% from the four-week average. Thailand purchased 57,000 tons and Taiwan bought 53,200 tons. At this point in the 2023/24 marketing year, wheat exports are 417.5 million bushels, compared to 447.2 million in 2022/23.Corn was reported ...