Soybean export sales increased week-on-week, while order cancellations for corn and wheat by overseas buyers resulted in net decreases, according to USDA data. Soybean sales rose to 115,000 tonnes in the week ended May 18, the agency said in a report. This represents an increase of 17,000t on the previous week, but a 26% decline from the previous five-year average.
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Germany bought 57,700 tonnes, Japan 53,500 tonnes, China 25,000 tonnes, Indonesia 6,600 tonnes and Malaysia 5,000 tonnes. The total would have been higher, but an unnamed destination canceled orders for 37,700 tonnes, the government said. Corn order cancellations resulted in a net reduction of 75,200 metric tons last week. This is still better than net reductions of 339,000 metric tons in the previous week. Mexico bought 216.1 thousand tons, Japan 185.7 thousand tons, Morocco 19.8 thousand tons, Jamaica 18.1 thousand tons and Taiwan 10.9 thousand tons. China, however, canceled shipments of 331,600 mt, an unnamed country canceled cargoes of 216,700 mt and Honduras and Colombia also turned back orders last week, the USDA said. Wheat cancellations resulted in net reductions of 45,100 metric tons, the lowest since the start of the marketing year on June 1. This is similar to the previous week's net reductions of 42,100 tonnes swt. China ...
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