USDA brings weekly sales of soybeans and corn for US exports as expected

Maize (Corn)

United States

Market & Price Trends

Published Mar 15, 2024

Tridge summary

The USDA's latest weekly sales figures reveal a 39% decrease in US soybean sales for the 2023/24 season, with 376 thousand tons sold, but this is still 55% higher than the four-week average. China was the primary buyer. The report also showed sales of 93.4 thousand tons of soybeans for the 2024/25 season. Corn sales increased by 16% from the previous week, with 1,283.4 million tons sold, 19% above the four-week average. Italy was the largest buyer of the 209.5 thousand tons of soybean meal sold, while Mexico was the main destination for the 11.2 thousand tons of soybean oil sold.

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Original content

The USDA (United States Department of Agriculture) brought its new weekly sales figures with volumes within market expectations for soybeans, corn and derivatives. SOY In the week ending March 7, the US sold 376 thousand tons of 2023/24 soybeans, against projections of 250 thousand to 800 thousand tons. Volume is, however, 39% lower than the previous week, but 55% higher than the average of the last four. China was the main destination for American oilseeds. In every commercial year, American sales already total 39.666 million tons, below the more than 49.3 million in the same period last year. The USDA estimates total US exports at 46.81 million. The report also indicated sales of 93.4 thousand tons of soybeans from the 2024/25 harvest, most of it to undisclosed destinations. CORN For corn, North American weekly sales were 1,283.4 million tons, also in line with expectations of 800 thousand to 1.4 million. Volume rose 16% in the weekly comparison and 19% when the relationship is ...

Source: NoticiasAgricolas