U.S. soybean export sales have hit a marketing-year low for two consecutive weeks

Published Nov 19, 2020

Tridge summary

U.S. soybean export sales have reached a marketing year low for two weeks in a row, with a 6% decrease to 1.4 million tons, despite China's purchasing most of the total. Overall demand has slowed due to increased prices and South American planting. Wheat also hit a marketing year low, with projections showing record global ending stocks. Beef sales saw a marketing year high, while pork sales fell by 32%. Corn exports were higher than the previous week but lower than the four-week average. The USDA will release new supply and demand estimates on December 10th.

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

Original content

U.S. soybean export sales have hit a marketing year low for two consecutive weeks. The USDA says soybean sales during the week ending November 12th fell 6% from the previous week at 1.4 million tons and while China did buy most of the total, overall demand has slowed as prices have shot higher and South American planting has moved forward. Wheat was also a marketing year low, dropping 36% on the week, with the USDA continuing to project record global ending stocks. Beef notched a marketing year high thanks to solid purchases by South Korea, Mexico, and Japan, but pork fell 32% from the week before, not seeing sustained week to week demand from China. Corn exports were higher than the prior week, but sharply lower than the four-week average also following a recent rally and with a cancellation by unknown destinations. The USDA’s next set of supply and demand estimates is out December 10th.Physical shipments of sorghum and soybeans were more than what’s needed to meet USDA ...

Source: Brownfield Ag