US ups weekly export sales of soybeans and wheat

Published Feb 28, 2023

Tridge summary

The USDA reports a notable increase in US export sales of soybeans and wheat, with significant purchases by China, Egypt, Mexico, and the Philippines, while sales of corn and other derivatives have declined. In the week of February 10-16, wheat sales rose by 62% to 338.8 thousand tons, with 105 thousand tons alone going to the Philippines. Soybean sales increased by 20% to 544.9 thousand tons, with a significant 20% of these to China and Egypt. However, corn sales decreased by 20% to 823.2 thousand tons, with reductions in sorghum and soybean meal sales, indicating a mixed trend in US agricultural exports.

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

Original content

According to the USDA, during the period February 10-16, the United States increased export sales of soybeans and wheat, while sales of corn, soy derivatives, sorghum and rice declined, according to Brownfield Agnews. In particular, export sales of wheat in the specified period were estimated at 338.8 thousand tons (+62% for the week). At the same time, the Philippines purchased 105 thousand tons of grain, Mexico - 69 thousand tons. Also, in the period February 10-16, the United States sold 544.9 thousand tons of soybeans (+20% per week), of which 176.2 thousand tons went to China, and 142.3 thousand tons to Egypt. The direction of shipments of another 311.3 thousand tons of oilseeds is not indicated. In turn, the volume of corn sales in the reporting period decreased to 823.2 thousand tons (-20%), of which 312 thousand tons were shipped to Japan and 289.6 thousand tons ...

Source: Zol