News
Beef export sales up on week
The USDA says beef export sales improved during the week ending June 3rd. Sales of 16,100 tons were up 28%, with Japan, South Korea, and Mexico all raising purchase levels, and China buying more than 2,000 tons, their first appearance in a couple of weeks. Pork exports were 19,700 tons, down 19% on the week, but with solid sales to China and Mexico. Old crop corn sales were less than half of the previous week and while China did buy old crop U.S. corn, they did not buy any new crop, and China also didn’t buy any U.S. soybeans, continuing to favor Brazil because of price factors and seasonal trends.
The 2021/22 marketing year for wheat started June 1st, 2021, while 2020/21 got underway August 1st, 2020 for cotton and rice, September 1st, 2020 for beans, corn, and sorghum, and October 1st, 2020 for soybean products. The marketing year for beef and pork is the calendar year.
Wheat came out at 325,900 tons (12.0 million bushels). South Korea purchased 80,300 tons and the Philippines bought 60,200 tons. The USDA says 837,100 tons were carried over from 2020/21 to 2021/22 and accumulated sales of 459,500 tons between May 28th and May 31st brought the 2020/21 total of 24,806,600 tons, compared to 24,812,200 in 2019/20. Early in the 2021/22 marketing year, sales are 202.5 million bushels, compared to 214.2 million towards the outset of 2020/21.
Corn was reported at 189,600 tons (7.5 million bushels), down 64% from the week ending May 27th and 39% from the four-week average. Japan picked up 203,700 tons and China purchased 66,200 tons, but unknown destinations canceled on 195,700 tons. In the final quarter of the 2020/21 marketing year, corn sales are 2.728 billion bushels, compared to 1.619 billion in 2019/20. Sales of 26,400 tons (1.0 million bushels) for 2021/22 delivery were mainly to Costa Rica (13,600 tons) and unknown destinations (7,600 tons).
Sorghum had a net reduction of 4,200 tons (-200,000 bushels). China bought 50,800 tons, but unknown destinations canceled on 55,000 tons. Sorghum exports are 284.7 million bushels, compared to 158.1 million this time last year.
Rice sales were 29,500 tons, 21% higher than the previous week, but 36% lower than the four-week average. Haiti picked up 15,200 tons and Mexico purchased 6,400 tons. Rice exports are 3,194,000 tons, compared to 3,285,500 a year ago.
Soybeans were pegged at 15,700 tons (600,000 bushels), a decline of 12% from the week before and 75% from the four-week average. Indonesia bought 68,100 tons and Mexico picked up 58,500 tons, but unknown destinations canceled on 86,900 tons and Hong Kong canceled on 66,000 tons. So far, this marketing year, soybean sales are 2.262 billion bushels, compared to 1.596 billion last year. Sales of 105,000 tons (3.9 million bushels) for 2021/22 delivery were primarily to Hong Kong (66,000 tons) and Taiwan (22,000 tons).
Soybean meal came out at 136,600 tons, 37% under the prior week and 20% below the four-week average. Mexico purchased 44,900 tons and Canada bought 26,700 tons. At this point in the marketing year, soybean meal sales are 10,440,900 tons, compared to 10,726,100 a year ago. Sales of 3,900 tons for 2021/22 delivery were to Canada (2,400 tons) and Mexico (1,500 tons).
Soybean oil was reported at 3,200 tons, up solidly both on the week and from the four-week average. Venezuela picked up 3,000 tons and Mexico purchased 100 tons. Cumulative soybean oil sales are 671,000 tons, compared to 1,159,600 last year.
Upland cotton was pegged at 108,200 bales, a decrease of 40% from the previous week and 16% from the four-week average. Pakistan bought 47,100 bales and Vietnam picked up 21,800 bales. 2020/21 upland cotton exports are 15,835,500 bales, compared to 16,725,300 in 2019/20. Sales of 21,400 bales for 2021/22 delivery were mostly to Pakistan (15,000 bales) and Vietnam (3,100 bales).
Net beef sales totaled 16,100 tons, 28% more than the week before, but 17% less than the four-week average. The reported purchasers were Japan (4,800 tons), South Korea (4,000 tons), Mexico (2,500 tons), China (2,300 tons), and Indonesia (1,000 tons), with a cancellation by Honduras (100 tons). Shipments of 21,100 tons were 70% larger than the prior week and 22% above the four-week average, mainly to South Korea (5,400 tons), Japan (5,200 tons), China (4,600 tons), Mexico (1,500 tons), and Canada (1,300 tons).
Net pork sales totaled 19,700 tons, down 19% on the week and 24% from the four-week average. The listed buyers were China (8,100 tons), Mexico (6,400 tons), Colombia (1,600 tons), Japan (1,300 tons), and South Korea (900 tons), with a cancellation by Australia (200 tons). Shipments of 27,500 tons were 25% lower than the previous week and 32% below the four-week average, primarily to Mexico (10,100 tons), China (6,600 tons), Japan (3,500 tons), South Korea (2,600 tons), and Canada (1,100 tons).
