Weekly Export Sales

Soybean export sales for the 2020/21 marketing year of 2,631.3 thousand metric tons (TMT) were 40.5 TMT over last week’s total but two percent below the four-week average of 2,694 TMT. There were no sales for the 2021/22 crop season, leaving total sales at 2,631.3 TMT. Combined crop year sales were two percent above last week’s total and exceeded analyst estimates that ranged from 1,500 to 2,200 TMT. 2020/21 export commitments are 72 percent of the USDA forecast. Export sales are noticeably over the 2019/20 crop year pace. Major purchases were reported for Mexico, China, and Germany.

Soybean meal sales for the 2020/21 marketing of 152.2 TMT were 120 TMT below last week and 53 percent under the prior four-week average of 322 TMT. There were no sales for the 2021/22 crop seasons, leaving total sales at 152.2 TMT. Combined crop year sales were 44 percent below last week’s report but within analyst expectations that ranged from 100 to 350 TMT. Accumulated export commitments are 29 percent of forecast. Sales are on par with last season’s pace. Major purchases were made by Ecuador, Canada, and Morocco.

Soybean oil 2020/21 export sales of 1.4.TMT were 3.2 TMT below last week’s volume and 79 percent under the four-week average of 6.4 TMT. There were 200 metric tons in sales for the 2020/21 crop season, lifting total sales to 1.6 TMT. Combined season sales were within analyst expectations that ranged from 0 to 24 TMT. 2020/21 marketing year commitments are 15 percent of forecast and need to average 20 TMT per week to meet projections. Soybean oil sales are 11 percent below last season’s pace. Major purchases were made by Canada and Mexico.

Weekly corn export sales for the 2020/21 marketing year of 655.2 TMT were 570.5 TMT below last week’s and 63 percent under the prior four-week average of 1,750 TMT. There were no sales for the 2021/22 crop season, leaving combined season sales at 655.2 TMT. Combined sales were 47 percent below last week’s and within analyst expectations that ranged from 600 to 1,400 TMT. Increases were reported for Columbia, Japan, and Mexico. 2020/21 export commitments are 45 percent of the USDA forecast. Export sales this season are noticeably over the 2019/20 pace.

Wheat export sales for the 2020/21 marketing year of 528,500 metric tons, were 2.2 TMT under last week’s volume but 23 percent above the prior four-week average. There were 71.2 TMT in sales for the 2021/22 crop year, lifting total sales to 599.6 TMT. Combined sales were six percent over last week’s but within analyst expectations that ranged from 200 to 600 TMT. Export commitments are 57 percent of the 2020/21 USDA forecast and need to average 348 TMT per week to meet projections. Sales are nine percent above last year’s pace. Major purchases were made by Japan, Mexico, and China.