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USDA reports old and new crop export sales for corn and soybeans topped pre-report estimates

[/title][fusion_text]Thursday, April 21st 2016

The USDA reports that during the week ending April 14th, combined old and new crop export sales for corn and soybeans topped pre-report estimates. Wheat came out at 295,100 tons (10.8 million bushels), up sharply from the week ending April 7th and 57% higher than the four week average. Japan purchased 98,000 tons and Indonesia bought 65,000 tons, but unknown destinations canceled on 158,400 tons. At this point in the 2015/16 marketing year, wheat sales are 720.8 million bushels, compared to 869.9 million in 2014/15. Sales of 325,600 tons (12.0 million bushels) for 2016/17 delivery were mainly to unknown destinations (179,800 tons). Corn was reported at 1,202,800 tons (47.4 million bushels), 6% more than the previous week and 31% above the four week average. Japan picked up 337,200 tons and Mexico purchased 196,300 tons. So far this marketing year, corn sales are 1.375 billion bushels, compared to 1.554 billion this time last year. Sales of 123,100 tons (4.8 million bushels) for 2016/17 delivery were primarily to Mexico (90,000 tons) and unknown destinations (35,000 tons) with a cancellation by Japan (56,300 tons). Soybeans were pegged at 407,700 tons (15.0 million bushels), an increase of 7% on the week and 15% larger than the four week average. China bought 180,900 tons and Germany picked up 73,800 tons, but unknown destinations canceled on 75,800 tons. For the marketing year to date, soybean sales are 1.662 billion bushels, compared to 1.786 billion last year. Sales of 339,700 tons (12.5 million bushels) for 2016/17 delivery were mostly to China (132,000 tons) and Mexico (84,000 tons). Net beef sales totaled 12,500 tons, 30% less than the previous week and 19% below the four week average. The listed buyers were Japan (5,500 tons), Mexico (1,900 tons), Hong Kong (1,600 tons), South Korea (1,600 tons), and Taiwan (900 tons). Net pork sales totaled 24,400 tons, down 12% on the week and 1% lower than the four week average. The reported purchasers were Mexico (11,000 tons), China (6,700 tons), Japan (2,600 tons), Colombia (800 tons), and Canada (700 tons).

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