USDA reports weekly sales for U.S. soybean and corn exports below expectations

Published Dec 12, 2024

Tridge summary

The USDA's latest report on weekly export sales has shown a notable decrease in the demand for both soybeans and corn, falling short of market expectations. Soybean sales for the week ending December 5 dropped by 49% from the previous week and 42% from the average of the last four weeks, with China being the primary buyer. The total season's soybean sales to date have surpassed the previous year, reaching 37,284.2 million tons. As for corn, sales decreased by 45% from the previous week and 32% from the average of the last four weeks, with Colombia as the main buyer. Once again, the total season's corn sales have exceeded last year's figures, amounting to 35.181.1 million tons. Additionally, the report indicated moderate sales of soybean meal and oil, with Mexico and South Korea as the main buyers for these derivatives.

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

Original content

The USDA (United States Department of Agriculture) released its new weekly export sales report, reporting soybean and corn figures below market expectations after weeks of very robust figures. SOYBEAN Soybean sales in the week ending December 5 in the US were 1,173.8 million tons, down 49% from the previous week and 42% from the average of the last four weeks. Market expectations ranged from 1.5 to 2.2 million tons, and China was once again the main destination for American oilseeds. In the entire season, the country has already committed 37,284.2 million tons of soybeans to exports, above the same period last year, of just over 33 million. The USDA estimates that US exports for the 24/25 period will total 49.67 million tons. CORN The country also sold 946.9 thousand tons of corn last week, 45% less than the previous week and 32% less than the average of the last four. The market expected sales of the cereal to be between 1.1 and 1.9 million tons. Colombia was the main buyer of ...

Source: NoticiasAgricolas