USA: Big week for soybean export sales

Published Nov 17, 2022

Tridge summary

The USDA has reported a rise in export sales of key commodities, with soybean sales exceeding 3 million tons, primarily to China, and corn sales to Mexico surpassing a million tons. However, beef, wheat, rice, sorghum, and soybean products saw a decrease in export sales. Physical shipments of soybeans have surpassed projections for the current marketing year. The marketing year for different commodities ends at different times, with wheat and corn ending in the first quarter, and soybean products ending in the fourth quarter.

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

Original content

The USDA says export sales of several key commodities showed solid improvement during the week ending November 10th. Soybean export sales topped 3 million tons with more than half of that to China, while corn climbed back over a million, most of that purchased by Mexico. Pork and cotton export sales were also up on the week, while beef, wheat, rice, sorghum, and soybean products were down. Export sales are influenced by several factors including currency trade and seasonal demand. The USDA’s next set of supply and demand estimates is out December 9th.Physical shipments of soybeans were more than what’s needed to meet USDA projections for the current marketing year. The 2022/23 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. The marketing year for beef and pork is the calendar year.Wheat came out at 290,300 tons (10.7 million bushels). Mexico purchased 68,400 tons and Japan ...

Source: Brownfield Ag