This week’s USDA Weekly Export Sales report showed a marketing year low for old crop soybean sales while new crop sales looked strong. On this week’s report we saw soybean net sales of 111,600 MT for 2021/2022–a marketing-year low–were down 60 percent from the previous week and 77 percent from the prior 4-week average. The Netherlands, Egypt, Mexico, Colombia and Tunisia were the top buyers of old crop soybeans. Net sales of 284,000 MT for 2022/2023 were primarily for unknown destinations, Pakistan, Egypt and Mexico. China also canceled a cargo of soybeans according to the report.
Corn net sales of 185,800 MT for 2021/2022 were up 23 percent from the previous week, but down 52 percent from the prior 4-week average. Net sales of 48,700 MT for 2022/2023 were reported as well for corn. Saudi Arabia, Japan and South Korea were the top buyers of old crop corn while Colombia, Honduras and Guatemala were top buyers of new crop corn.
Wheat net sales of 700 metric tons for 2021/2022 were down noticeably from the previous week and down 98 percent from the prior 4-week average. New crop net sales of 363,500 MT for 2022/2023 primarily for South Korea (108,400 MT), Thailand (60,000 MT), Egypt (60,000 MT), Mexico (41,900 MT), and Colombia (35,200 MT).
Japan was the featured buyer of beef while Mexico was the featured buyer of pork again this week.
Read the full export sales report here: https://apps.fas.usda.gov/export-sales/highlite.htm