Corn export sales hit marketing year high worldwide
Updated Nov 27, 2021
The USDA says corn export sales hit a marketing year high during the week ending November 18th. Corn sales topped 1.4 million tons, with Mexico and Canada accounting for most of the total, and included a purchase by China, which has largely been relying on Ukraine for corn over the past few months
. Soybean and wheat sales also posted week to week improvements, while soybean product, sorghum, cotton, and rice all declined. Beef and pork export sales were also down on the week. The USDA’s next set of supply and demand estimates is out December 9th.Physical shipments of sorghum and soybeans were above what’s needed to meet USDA projections for the current marketing year. The 2021/22 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 567,500 tons (20.9 million bushels), up 42% from the week ending November 11th and 70% from the four-week average. Japan purchased 154,200 tons and Nigeria bought 102,100 tons. Nearing the end of the first half of the 2021/22 marketing year, wheat sales are 523.2 million bushels, compared to 679.5 million in 2020/21.Corn was reported at 1,429,200 tons (56.3 million ...