Strong soybean export pace continues in the United States

Published 2020년 10월 16일

Tridge summary

The article reports on the recent USDA data regarding commodity sales and shipments for the week ending October 8, 2020. It highlights an increase in soybean exports, with significant purchases from China and Mexico, while other commodities such as corn, rice, and upland cotton see a decrease in sales. Wheat sales remain steady, with Mexico and Japan as the main buyers. The article also provides a comparison of sales figures from the previous marketing year and offers an overview of the current marketing year's progress.

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

Original content

Soybean export demand continues to be strong. The USDA says soybean sales during the week ending October 8th were more than 2.6 million tons, up slightly on the week and larger than average, mainly to China and Mexico, but it was a relatively quiet week for the other major commodities, with wheat holding steady and sales of corn, beef, cotton, and rice all posting week to week declines. The USDA’s next set of supply and demand estimates is out November 10th.Physical shipments of soybeans and wheat were more than what’s needed to meet 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.Wheat came out at 528,500 tons (19.4 million bushels), unchanged from the week ending October 1st and up 23% from the four-week average. Mexico purchased 229,000 tons and Japan bought 62,200 tons. At this point in the 2020/21 marketing year, ...

Source: Brownfield Ag