United States: Soybean, pork export sales lower than average

Published Oct 22, 2020

Tridge summary

The article reports on the latest USDA exports data for key agricultural commodities, highlighting a 18% decrease in Chinese soybean purchases, despite surpassing 2 million tons in a week. Other exports like corn, wheat, sorghum, and beef experienced increases, with China also leading in soybean oil and sorghum purchases. However, wheat exports were down due to cancellations, while rice and upland cotton exports saw increases. Meat exports to Mexico and Asia remained strong, with pork exports showing a slight decrease due to a cancellation. The article anticipates the USDA's next supply and demand estimates on November 10th to provide more insights into these trends.

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

Original content

Chinese demand for soybeans continues to drive U.S. sales. The USDA says soybean exports during the week ending October 15th topped 2 million tons with China buying more than half of the total, but that’s 18% lower than the four-week average, which might be a sign that demand is slowing down. A significant amount of the recent sales from China are expected to be delivered in early 2021, usually when Brazil has control of the export market, and while planting in South America has been delayed by dry weather, a wetter pattern is in the forecast for many key growing areas. China was also the biggest buyer of U.S. soybean oil and sorghum, the second biggest purchaser of corn, cotton, and beef, and took third place for pork. The USDA’s next set of supply and demand estimates is out November 10th.Physical shipments of soybeans were above what’s needed weekly to meet USDA projections for the current marketing year. The 2020/21 marketing year started June 1st for wheat, August 1st for ...

Source: Brownfield Ag