Weekly Export Sales Lower Across the World

Export sales of corn, soybeans, and wheat all dropped in the seven days that ended on April 14.

Corn sales last week were reported at 879,200 metric tons, according to the U.S. Ag Department. That’s down 34% from the previous week and 6% from the prior four-week average.

China was the big buyer at 675,200 metric tons, followed by South Korea at 126,200 tons, Mexico at 75,500 tons, and Saudi Arabia at 42,800 tons, the agency said.

The total would have been higher but an unnamed country canceled cargoes of 234,000 metric tons.

Sales for the 2022-2023 marketing year came in at 389,600 metric tons. Exports for the week totaled 1.2 million metric tons, down 23% week-to-week.

Soybean sales fell to 460,200 metric tons, down 16% from the previous week and 39% from the average for this time of year, the USDA said.

China bought 496,400 metric tons, Indonesia was in for 81,000 metric tons, Bangladesh took 57,000 tons, Egypt bought 53,700 tons, and Japan purchased 51,600 tons from U.S. supplies.

An unknown destination canceled cargoes totaling 326,300 tons and Spain nixed shipments of 66,000 tons, the agency said.

Sales for the next marketing year were reported at 1.24 million metric tons, while shipments for the week rose 10% to 889,000 metric tons.

Wheat sales plunged to a marketing-year low, falling to 26,300 metric tons, the USDA said. That’s down 73% from the previous week and 79% from the prior four-week average.

Mexico purchased 90,500 metric tons of U.S. wheat, Haiti bought 27,000 tons, Ghana was in for 26,000 tons, Cameroon purchased 23,000 tons, and Italy took 15,000 tons.

Nigeria canceled cargoes of 131,000 metric tons, the agency said.

Sales for the 2022-2023 marketing year that starts on June 1 came in at 238,400 metric tons. Exports for the week totaled 504,000 metric tons, up 48% from the previous week, the USDA said in its report.

Source: https://www.agriculture.com/news/three-big-things/3-big-things-today-april-21-2022