China leads the way on new crop corn, soybean exports

 

By John Perkins, Brownfield

July 23, 2020

 

The recent strong demand from China led to a strong week for new crop corn and soybean export sales, as both topped two million tons, but old crop corn and bean sales were below average following cancellations by unknown destinations…

 

Pork sales were a little bit lower than average, but still topped 30,000 tons, led by Mexico and China, while beef exports were down more than 40% on the week at 15,600 tons. Soybean meal hit a marketing year low and old crop cotton was a net reduction because of several cancellations. The USDA’s next set of supply and demand estimates is out August 12th…

 

Net beef sales totaled 15,600 tons, a decrease of 44% on the week and 15% from the four-week average. The listed buyers were South Korea (4,500 tons), Japan (4,200 tons), Taiwan (2,400 tons), Hong Kong (2,100 tons), and Canada (700 tons), with net cancellations for Indonesia (200 tons) and Guatemala (100 tons). Shipments of 16,100 tons were an increase of 4% from the previous week and 1% from the four-week average, mostly to South Korea (5,400 tons), Japan (4,400 tons), Taiwan (1,600 tons), Canada (1,100 tons), and Hong Kong (1,100 tons).

 

Net pork sales totaled 31,800 tons, down 17% from the week before and 4% from the four-week average. The reported purchasers were Mexico (12,900 tons), China (7,200 tons), Japan (4,300 tons), Canada (3,200 tons), and South Korea (1,300 tons), with a net cancellation by Nicaragua (200 tons). Shipments of 35,700 tons were up 22% from the prior week and 16% from the four-week average, mainly to China (13,700 tons), Mexico (8,600 tons), Japan (3,600 tons), Canada (3,500 tons), and South Korea (1,400 tons). Sales of 300 tons for 2021 delivery were to Australia...

 

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https://brownfieldagnews.com/news/china-leads-the-way-on-new-crop-corn-soybean-exports/