U.S. export sales mostly down on week

Beef and sorghum were bright spots for U.S. exports during the week ending December 28th. The USDA says beef for 2023 delivery and sorghum sales, along with soybean oil, were the only commodities to post week-to-week improvements, not entirely surprising as it was Christmas week. Corn and soybeans both hit marketing year lows. Export business is influenced by several factors including seasonal changes in supply and demand, along with the value of the dollar relative to other currencies. The USDA’s next set of supply and demand estimates is out Friday, January 12th at Noon Eastern/11 Central.Physical shipments of soybeans were more than what’s needed to meet projections for the current marketing year. The 2023/24 marketing year got underway June 1st, 2023 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 131,600 tons (4.8 million ...