Strong week for soybean and corn export sales in the United States

The USDA says corn and soybean export sales surged during the week ending October 14th. U.S. beans and corn have the best price position on the export market when compared to competing nations. Soybean sales were nearly 3 million tons, with almost 2 million of that to China, while corn topped a million tons for the third week in a row thanks to strong demand from unknown destinations and Mexico. Sorghum was up sharply, led by China and unknown destinations, while rice hit a marketing year high. Pork exports declined with no sales to China and beef hit a marketing year low. The USDA’s next set of supply and demand estimates is out November 9th.Physical shipments of soybeans were more than what’s needed to meet USDA projections for the current marketing year. 2021/22 got underway 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 ...