Thursday, December 8th 2016
The USDA reports corn, soybean, and wheat export sales for the week ending December 1st were above most pre-report estimates and physical shipments were more than what’s needed weekly to meet USDA projections for the 2016/17 marketing year. Wheat came out at 503,100 tons, up 4% from the week ending November 24th, but down 22% from the four week average. For the 2016/17 marketing year to date, wheat sales are 711.7 million bushels, compared to 538.3 million in 2015/16. Sales of 24,100 tons for 2017/18 delivery were to Mexico and Guatemala. Corn was reported at 1,495,400 tons, 96% more than the previous week and 12% higher than the four week average. So far this marketing year, corn sales are 1.243 billion bushels, compared to 713.0 million this time last year. Soybeans were pegged at 1,461,700 tons, 10% above the week before and up 5% from the four week average. At this point in the marketing year, soybean sales are 1.586 billion bushels, compared to 1.252 billion last year. Sales of 6,000 tons for 2017/18 delivery were to unknown destinations. Net beef sales totaled 4,500 tons, a drop of 79% on the week and a decrease of 72% from the four week average. Net pork sales totaled 11,400 tons, up 29% from the week before, but down 35% from the four week average.