News
USDA confirms pork export sales to China
The USDA says China purchased a lot of U.S. pork during the week ending April 4th. Beijing bought 77,700 tons, their first major purchase in several weeks as African Swine Fever continues to spread, devastating domestic herds and severely limiting production of one of that nation’s favorite proteins. With this latest round of purchases, China is now the third biggest buyer of U.S. pork this year, following Mexico and South Korea. Trade talks between the U.S. and China are ongoing.
Corn, soybean, and wheat export sales were below analysts’ expectations, soybean meal was generally within pre-report estimates, and soybean oil topped most projections. The 2018/19 marketing year runs through the end of May for wheat, the end of August for beans, corn, and sorghum, and the end of September for soybean products. Physical shipments of corn remain ahead of the year ago pace.
Wheat came out at 273,000 tons (10.0 million bushels), down 61% from the week ending March 28th and 37% lower than the four-week average. Mexico purchased 89,100 tons and South Africa bought 49,900 tons, but unknown destinations canceled on 111,600 tons. With less than two months left in the 2018/19 marketing year, wheat sales are 903.8 million bushels, compared to 846.5 million in 2017/18. Sales of 201,400 tons (7.4 million bushels) for 2019/20 delivery were mainly to Thailand (61,500 tons) and Mexico (56,000 tons).
Corn was reported at 548,000 tons (21.6 million bushels), 2% more than the previous week, but 18% less than the four-week average. Colombia picked up 181,500 tons and unknown destinations purchased 169,900 tons, while Israel canceled on 162,000 tons. More than halfway through the marketing year, corn sales are 1.722 billion bushels, compared to 1.897 billion this time last year.
Sorghum sales were 25,000 tons (1.0 million bushels), all to South Africa. At this point in the marketing year, sorghum exports are 40.8 million bushels, compared to 200.6 million a year ago.
Soybeans were pegged at 270,400 tons (9.9 million bushels), a drop of 86% from the week before and a decline of 76% from the four-week average. Indonesia bought 73,700 tons and Mexico picked up 71,000 tons, but unknown destinations canceled on 99,300 tons. So far, this marketing year, soybean sales are 1.613 billion bushels, compared to 1.945 billion last year. Sales of 10,000 tons (400,000 bushels) for 2019/20 delivery were primarily to Malaysia (5,000 tons) and Japan (3,900 tons).
Soybean meal came out at 152,100 tons, 20% below the prior week, but 2% above the four-week average. The Philippines purchased 93,700 tons and Colombia bought 22,300 tons, while Peru canceled on 11,500 tons. Cumulative soybean meal sales are 9,472,700 tons, compared to 9,426,300 a year ago. Sales of 500 tons for 2019/20 delivery were to El Salvador.
Soybean oil was reported at 33,800 tons, down 8% from the previous week, but up 99% from the four-week average. South Korea picked up 24,000 tons and Guatemala purchased 6,700 tons. 2018/19 soybean oil sales are 618,500 tons, compared to 715,000 in 2017/18.
Net beef sales totaled 11,800 tons, a decrease of 43% on the week and 28% from the four-week average. The listed buyers were Hong Kong (3,300 tons), South Korea (2,200 tons), Japan (2,000 tons), Taiwan (1,200 tons), and Canada (900 tons).
Net
pork sales totaled 90,700 tons, a big increase from the week before and the
four-week average. The reported purchasers were China (77,700 tons), South
Korea (3,600 tons), Chile (2,900 tons), Japan (2,200 tons), and Canada (1,100
tons).
