Thursday, September 29th 2016
Courtesy of Brownfield Ag News
The USDA reports soybean export sales for the week ending September 22nd were larger than what most analysts were expecting, while corn was below many estimates and wheat and soybean products were inside the respective anticipated ranges. Corn was reported at 575,000 tons (22.6 million bushels). Mexico picked up 286,200 tons and Colombia purchased 230,300 tons, but unknown destinations canceled on 364,900 tons. About a month into the current marketing year, corn sales are 730.0 million bushels, compared to 413.9 million this time last year. Sorghum sales were 227,300 tons, with China buying 169,300 tons. So far this marketing year, sorghum sales are 39.0 million bushels, compared to 137.0 million a year ago. Soybeans were pegged at 1,692,800 tons (62.2 million bushels). China picked up 833,600 tons and unknown destinations purchased 528,800 tons. For the marketing year to date, soybean sales are 959.5 million bushels, compared to 756.9 million last year. Net beef sales totaled 13,400 tons, a big increase from the prior week and 24% more than the four week average. The listed buyers were South Korea (6,800 tons), Japan (2,800 tons), Mexico (1,200 tons), Canada (1,100 tons), and Hong Kong (800 tons). Sales of 300 tons for 2017 delivery were mostly to Japan (100 tons) and Hong Kong (100 tons). Net pork sales totaled 18,200 tons, 25% above the previous week, but 13% below the four week average. The reported purchasers were Hong Kong (3,400 tons), Japan (3,300 tons), Mexico (3,200 tons), Canada (2,400 tons), and South Korea (1,700 tons). Sale of 900 tons for 2017 delivery were to China (800 tons) and Australia (100 tons).