China buys U.S. beef, pork and soybeans

Updated Aug 13, 2021
The USDA says China bought U.S. pork during the week ending August 5th, the second week in a row with reported sales to the world’s biggest consumer of pork, just a much smaller amount. China bought 600 tons of U.S. pork last week, well below the more than 18,000 tons from the previous week, but still a positive sign for demand after being out of the market for about a month. China also bought 1,000 tons of U.S. beef, along with good amounts of old crop sorghum and old and new crop soybeans. Old crop corn exports were up sharply on the week and new crop sales were solid as the reality of Brazil’s much smaller than expected second corn crop starts to take hold. The USDA’s August supply and demand numbers were out on Thursday the 12th.
Physical shipments of wheat were above what’s needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat and August 1st, 2021 for cotton and rice, while 2020/21 got underway September 1st, 2020 for beans, corn, and sorghum, and October 1st, 2020 for soybean products. The marketing year for beef and pork is the calendar year.Wheat came out at 293,100 tons (10.8 million bushels), down 5% from the week ending July 30th and 32% from the four-week average. Unknown destinations purchased 98,600 tons and Japan bought 34,300 tons. About two months into the 2021/22 marketing year, wheat sales are 319.9 million bushels, compared to 385.5 million in 2020/21.Corn was reported at 377,600 tons (14.9 million bushels), up sharply from both the previous week and the four-week average. Mexico picked up 144,500 tons and Japan purchased 80,500 tons, while unknown destinations canceled on 76,800 tons. With less than a month remaining in ...
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