July 5, 2022
Fargo, US 74 F

Weekly Export Sales Report- 5/12/22- Marketing Year Lows for Corn, Soybeans and Wheat

On this morning’s weekly export sales report from USDA, we saw corn net sales for old crop at a marketing year low 192,700 MT, down 75 percent from the previous week and 80 percent from the prior 4-week average. New crop sales came in at 46,600 MT for corn.

We also saw soybean net sales for old crop at a marketing year low of 143,700 MT; down 80 percent from the previous week and 74 percent from the prior 4-week average. Net sales of 77,300 MT for 2022/2023 were reported for soybeans with Unknown Destinations the top buyer.

For wheat, we also saw a marketing year low of old crop sales, at 14,100 MT. That was down 88 percent from the previous week and 79 percent from the prior 4-week average. New crop wheat sales came in at 124,300 MT on the week.

Beef sales of 28,400 MT for 2022–a marketing-year high–were up 95 percent from the previous week and from the prior 4-week average while pork net sales of 26,300 MT for 2022 were up 10 percent from the previous week and 14 percent from the prior 4-week average. South Korea and Japan were the top beef buyers while Mexico and China were the top pork buyers.

Later today, we’ll have the USDA May WASDE report out at 11am CST. Read the full USDA Weekly Export Sales report here: https://apps.fas.usda.gov/export-sales/highlite.htm

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