July 4, 2022
Fargo, US 73 F

Weekly Export Sales Report- 5/19/22- Corn and Soybean Sales Rebound

On this week’s Weekly Export Sales report from USDA, we saw noticeable rebounds in corn and soybeans sales while wheat exports saw another marketing year low. Corn net sales of 435,300 MT for 2021/2022 were up noticeably from the previous week, but down 36 percent from the prior 4-week average. New crop corn net sales were 588,500 MT for 2022/2023 with China as the top buyer.

Soybean net sales of 752,700 MT for 2021/2022 were up noticeably from the previous week and 65 percent from the prior 4-week average. New crop soybean net sales came in at 149,500 MT. China was the top buyer of old crop beans last week.

Wheat net sales of 8,500 metric tons (MT) for 2021/2022–a marketing-year low–were down 40 percent from the previous week and 82 percent from the prior 4-week average. New crop wheat sales came in at 325,600 MT for 2022/2023.

Beef net sales of 23,300 MT for 2022 were down 18 percent from the previous week, but up 35 percent from the prior 4-week average.  Increases were primarily for Japan (7,900 MT, including decreases of 400 MT), South Korea (7,400 MT, including decreases of 900 MT), China (2,900 MT, including decreases of 200 MT), Taiwan (1,400 MT, including decreases of 200 MT), and Canada (900 MT, including decreases of 100 MT).  Exports of 19,800 MT were unchanged from the previous week, but up 1 percent from the prior 4-week average.  The destinations were primarily to South Korea (6,100 MT), Japan (5,300 MT), China (3,100 MT), Mexico (1,400 MT), and Taiwan (1,000 MT).

Pork net sales of 24,100 MT for 2022 were down 8 percent from the previous week, but up 2 percent from the prior 4-week average.  Increases were primarily for Mexico (8,400 MT, including decreases of 200 MT), South Korea (4,300 MT, including decreases of 300 MT), Colombia (2,400 MT), China (2,100 MT, including decreases of 200 MT), and Japan (1,900 MT, including decreases of 100 MT).  Exports of 31,300 MT were down 6 percent from the previous week, but up 1 percent from the prior 4-week average.  The destinations were primarily to Mexico (13,900 MT), China (4,200 MT), South Korea (3,600 MT), Japan (3,000 MT), and Canada (1,500 MT).

Read the full report from USDA here: https://apps.fas.usda.gov/export-sales/highlite.htm

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