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Generally quiet week for export sales
USDA reports grain and oilseed export sales for the week ending August 2 were within pre-report expectations. Physical shipments of corn, soybeans, and wheat were all less than what’s needed weekly to meet USDA projections for the current marketing year. The 2012/13 marketing year for corn and soybeans starts September 1.
Wheat came out at 665,300 tons (24.4 million bushels), up 29% from the week ending July 26 and 49% higher than the four week average. Nigeria was the leading buyer at 116,400 tons and South Korea picked up 94,000 tons. For the 2012/13 marketing year to date, wheat sales are 352.1 million bushels, compared to 401.9 million in 2011/12.
2011/12 corn was reported at 174,700 tons (6.9 million bushels) with Japan purchasing 102,700 tons and unknown destinations cancelling on 89,500 tons. Nearing the end of the marketing year, corn sales are 1.555 billion bushels, compared to 1.882 billion towards the end of last year. Sales of 928,300 tons (36.5 million bushels) for 2012/13 delivery were primarily to Mexico (983,000 tons) with a handful of cancellations.
Old crop soybeans were a new marketing year low at 105,200 tons (3.9 million bushels), down 46% from the previous week and 51% lower than the four week average. China bought 59,600 tons and Canada purchased 49,400 tons while unknown destinations canceled on 68,000 tons. At this point in the marketing year, soybean sales are 1.418 billion bushels, compared to 1.540 billion a year ago. Sales of 195,200 tons (7.2 million bushels) for 2012/13 delivery were mostly to China (106,000 tons).
Soybean meal was pegged at 134,200 tons, 19% less than the week before and 7% below the four week average. Ecuador picked up 35,100 tons and Morocco bought 25,000 tons; unknown cancelled on 20,400 tons. Cumulative soybean meal sales are 8,311,300 tons, compared to 7,728,000 tons last year at this time. Sales of 77,500 tons for 2012/13 delivery were mainly to the Philippines (48,000 tons) and unknown destinations (25,000 tons).
Soybean oil came out at 12,900 tons, an increase of 33% from the prior week but a decrease of 21% from the four week average. Mexico purchased 5,200 tons. 2011/12 soybean meal sales are 567,100 tons, compared to 1,298,100 in 2010/11.
Net beef sales totaled 18,500 tons. That’s 17% above both the previous week and the four week average. The reported buyers were Vietnam (3,300 tons), Mexico (3,100 tons), Japan (2,300 tons), Canada (2,100 tons), and Hong Kong (1,900 tons).
2012-08-09 10:00:48
Source: http://brownfieldagnews.com/2012/08/09/generally-quiet-week-for-export-sales/
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