News
USDA reports a big decline in corn export sales
The USDA says corn sales dropped significantly this week. Sales were down 91 percent from the previous week and 95% from the prior 4-week averages.
Soybean sales were up noticeably from the previous week and up 51% from the 4-week averages. While China didn’t purchase any beans again this week, there were increases in sales to Japan, Colombia, Indonesia, and Saudi Arabia. Exports were a marketing-year low and were down 47% from the previous week and 48% on the 5-year average.
Beef sales dropped 20% from the previous week and exports also declined. However, there were increased sales and exports of US beef to China.
Pork sales and exports both jumped significantly with Mexico the primary destination for both. Exports to China were also significant.
The marketing year for corn and soybeans runs through the end of August, while the marketing year for beef and pork is the calendar year.
