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Beef exports hit marketing year high

 

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USDA reports export sales of corn and wheat for the week ending March 5 were within pre-report estimates, while soybean and soybean product sales were below expectations. Physical shipments of corn and soybeans were above what’s needed weekly to meet USDA projections for the 2014/15 marketing year, but wheat fell short of its mark.

Wheat came out at 445,200 tons (16.4 million bushels), down 5% from the week ending February 26, but up 21% from the four week average. China picked up 115,000 tons and Mexico bought 112,300 tons. For the 2014/15 marketing year to date, wheat sales are 817.7 million bushels, compared to 1.070 billion in 2013/14. Sales of 48,000 tons (1.8 million bushels) for 2015/16 delivery were mainly to Japan (35,000 tons).

Corn was reported at 418,000 tons (16.5 million bushels), 50% lower than the previous week and 52% less than the four week average. South Korea purchased 281,000 tons and Colombia picked up 136,300 tons, but unknown destinations did cancel on 343,300 tons. So far this marketing year, corn sales are 1.419 billion bushels, compared to 1.503 billion this time last year. Sales of 96,400 tons (3.8 million bushels) for 2015/16 delivery were to New Zealand (81,400 tons) and Japan (15,000 tons).

Soybeans were pegged at 167,900 tons (6.2 million bushels), a 66% drop from the week before and a decline of 70% from the four week average. China bought 156,800 tons and the Netherlands purchased 105,100 tons, but unknown destinations canceled on 263,700 tons. At this point in the marketing year, soybean sales are 1.756 billion bushels, compared to 1.625 billion a year ago. Sales of 30,800 tons (1.1 million bushels) for 2015/16 delivery were to Mexico (28,000 tons) and Japan (2,800 tons).

Soybean meal came out at 101,300 tons, 22% below the prior week and down 36% from the four week average. Ecuador picked up 29,500 tons and Mexico bought 16,500 tons. Cumulative soybean meal sales for the current marketing year are 9,079,400 tons, compared to 7,801,900 last year. Sales of 500 tons for 2015/16 delivery were a sale to Mexico (1,400 tons) and a cancellation by Panama (900 tons).

Soybean oil was reported at 4,600 tons, 18% lower than the previous week and 36% less than the four week average. Mexico purchased 2,800 tons and Peru picked up 1,000 tons. 2014/15 U.S. soybean oil sales are 583,700 tons, compared to 556,600 in 2013/14.

Net beef sales were a new marketing year high at 17,300 tons, up sharply on the week and 47% higher than the four week average. The listed buyers were Hong Kong (7,100 tons), Japan (3,900 tons), South Korea (2,400 tons), Taiwan (1,100 tons), and Mexico (900 tons).

Net pork sales totaled 18,700 tons, down 39% on the week and 15% lower than the four week average. The reported purchasers were Mexico (5,800 tons), Japan (3,400 tons), South Korea (3,000 tons), Canada (1,500 tons), and Colombia (1,300 tons).

 

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