Soybean and pork export sales were down on week in the US

Soybean export sales declined slightly during the week ending September 9th. The USDA says sales of 1.264 million tons were down 207,700 tons on the week, mainly to China and unknown destinations, which could turn out to be China when it’s time for delivery. Pork exports fell 25%, Mexico was the top buyer, while beef sales were up just over 20%, with Japan leading the way. Corn sales dropped, possibly due to the shipping issues out of the Gulf following Hurricane Ida, and wheat hit a marketing year high. The USDA’s next set of supply and demand estimates is out October 12th.Physical shipments of wheat were more than what’s needed to meet USDA expectations for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat, August 1st, 2021 for cotton and rice, and September 1st, 2021 for beans, corn, and sorghum, while 2020/21 got underway October 1st, 2020 for soybean products. The marketing year for beef and pork is the calendar year.Wheat came out at ...