Information
Pork, soybean oil export gross sales hit advertising yr highs
The USDA says the week ending March 30th was a strong week for meat export gross sales. Pork was a advertising yr excessive at greater than 53,000 tons, primarily to China and Mexico, whereas beef was up on the week at 13,500 tons. Soybean oil additionally hit a advertising yr excessive and corn, wheat, and rice gross sales noticed good week-to-week enhancements, whereas soybeans, soybean meal, and cotton gross sales have been down. Export demand is ruled by a number of elements together with foreign money commerce and seasonal elements. The USDA’s subsequent set of provide and demand estimates is out Wednesday, April 11th at Midday Jap/11 Central.
Bodily shipments of soybeans have been greater than what’s wanted to satisfy USDA projections for the present advertising yr. The 2022/23 advertising yr began June 1st, 2022 for wheat, August 1st, 2022 for cotton and rice, September 1st, 2022 for beans, corn, and sorghum, and October 1st, 2022 for soybean merchandise. The advertising yr for beef and pork is the calendar yr.
Wheat got here out at 193,600 tons (7.1 million bushels), up sharply from the week ending March 23rd, however down 5% from the four-week common. China bought 69,300 tons and Taiwan purchased 56,300 tons. With about two months remaining within the 2022/23 advertising yr, wheat exports are 666.6 million bushels, in comparison with 703.4 million in 2021/22. A web discount of 10,200 tons (-400,000 bushels) for 2023/24 supply adopted a cancellation by unknown locations (30,000 tons).
Corn was reported at 1,246,600 tons (49.1 million bushels), 20% larger than the earlier week, however 26% decrease than the four-week common. China picked up 568,100 tons and unknown locations bought 164,500 tons. Within the again half of the advertising yr, corn exports are 1.465 billion bushels, in comparison with 2.143 billion this time final yr. Gross sales of 26,200 tons (1 million bushels) for 2023/24 supply have been to Japan.
There have been no sorghum gross sales. Sorghum exports are 59 million bushels, in comparison with 265.7 million a yr in the past.
Rice gross sales have been 102,400 tons, a strong enchancment from each the week earlier than and the four-week common. Iraq purchased 80,000 tons and Haiti picked up 7,300 tons. Rice exports are 1,687,200 tons, in comparison with 2,473,700 final yr.
Soybeans have been pegged at 155,300 tons (5.7 million bushels), a drop of 55% from the prior week and 42% from the four-week common. China bought 162,000 tons and Germany purchased 69,100 tons, however unknown locations canceled on 183,200 tons. To this point, this advertising yr, soybean exports are 1.834 billion bushels, in comparison with 2.061 billion a yr in the past. A web discount of 48,300 tons (-1.8 million bushels) for 2023/24 supply adopted a cancellation by China (66,000 tons).
Soybean meal was reported at 245,500 tons, a decline of 35% on the week and 6% from the four-week common. Morocco picked up 55,200 tons and Colombia bought 47,100 tons. Nearly midway by way of the advertising yr, soybean meal exports of 9,009,900 tons, in comparison with 9,221,600 final yr. Gross sales of 32,000 tons for 2023/24 supply have been to Ecuador.
Soybean oil got here out at 27,600 tons, significantly bigger than each the earlier week and the four-week common. Unknown locations purchased 20,000 tons and Jamaica picked up 7,000 tons. Cumulative soybean oil exports are 103,600 tons, in comparison with 639,600 a yr in the past.
Upland cotton was pegged at 160,500 bales, down 43% from the week earlier than and 31% from the four-week common. China bought 64,400 bales and Vietnam purchased 52,500 bales. 2022/23 upland cotton exports are 11,620,900 bales, in comparison with 14,260,100 in 2021/22. Gross sales of 15,900 bales for 2023/24 supply have been primarily to Pakistan (10,000 bales) and Mexico (3,600 bales).
Web beef gross sales totaled 13,500 tons, up 20% from the prior week and 1% from the four-week common. The reported patrons have been South Korea (4,900 tons), Japan (2,600 tons), Canada (1,300 tons), Mexico (1,100 tons), and Taiwan (700 tons). Shipments of 17,300 tons have been a rise of 5% on the week and 17% from the four-week common, primarily to Japan (5,000 tons), South Korea (4,500 tons), China (2,200 tons), Mexico (1,400 tons), and Taiwan (1,300 tons). Gross sales of 100 tons for 2024 supply have been to China.
Web pork gross sales totaled 53,200 tons, a surge of 75% from the earlier week and 69% from the four-week common. The listed purchasers have been China (20,200 tons), Mexico (14,300 tons), Japan (3,800 tons), South Korea (3,200 tons), and Colombia (2,500 tons). Shipments of 31,500 tons have been 3% lower than the week earlier than, however 3% greater than the four-week common, principally to Mexico (12,500 tons), China (4,900 tons), Japan (4,600 tons), South Korea (2,600 tons), and Canada (1,700 tons).
