Below average week for World's beef, pork export sales

The USDA says pork and beef export sales during the week ending December 3rd were lower than average. Pork did include significant purchases by Mexico, China, and Japan, but those totals did include reductions from initial levels. Beef sales were dropped sharply from the normal pace, while sales for 2021 delivery were solid. Weekly wheat export sales were larger than expected, while corn and soybeans were within analysts’ estimates and all three featured purchases by China. Cotton exports were up sharply on the week, China was the leading buyer, but it was a bearish week for rice and sorghum sales.Physical shipments of soybeans and wheat were more than what’s needed to meet USDA 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 616,500 tons (22.7 million bushels), up 38% from the week ending November ...