US: Weekly new crop corn exports top 5 million tons

The USDA says the week ending May 20th was a strong week for new crop U.S. corn export sales. That was the second consecutive week of strong new crop corn sales, with a two-week total of more than 9.7 million tons, nearly all of that to China. Old crop corn sales were up on the week, with China the second biggest buyer, after Mexico. Pork sales were nearly 46,000 tons, also led by Mexico and China, with beef at almost 28,000 tons, with solid sales to China, Japan, and South Korea. There were week to week declines for old crop soybeans, sorghum, wheat, soybean oil, and rice, against increases in soybean meal and cotton. The USDA’s next set of supply and demand estimates is out June 10th.Physical shipments of corn, sorghum, and soybeans were more than what’s needed to meet USDA projections for the current marketing year. The 2020/21 marketing year started June 1st, 2020 for wheat, August 1st, 2020 for cotton and rice, September 1st, 2020 for beans, corn, and sorghum, and October ...