United States: Pork export sales hit a marketing-year high

The USDA says pork export sales during the week ending March 25th were a marketing year high at 61,000 tons. Just under half of the total was to China, which has recently reported more cases of African swine fever, and there were also solid sales to Mexico. Rice, sorghum, and soybean exports were up on the week, while beef, corn, wheat, soybean product, and cotton sales posted week to week declines. The USDA’s next set of supply and demand estimates is out on the 9th.Physical shipments of corn, sorghum, and soybeans were more than what’s needed weekly 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 1st, 2020 for soybean products.Wheat came out at 250,100 tons (9.2 million bushels), down 27% from the week ending March 18th and 22% from the four-week average. China purchased 130,000 tons and the Philippines bought ...