Weekly Export Sales – Mexico’s Commodity Demand Remains Elevated

Soybean export sales for the 2020/21 marketing year of 1,620.7 thousand metric tons (TMT) were 604.8TMT below last week’s total and 35 percent below the four-week average of 2,482 TMT. There were 9 TMT in sales for the 2021/22 crop season, lifting total sales to 1,629.7 TMT.  Combined crop year sales were 27 percent below last week’s total but within analyst estimates that ranged from 1,000 to 2,000 TMT. 2020/21 export commitments are 78 percent of the USDA forecast. Export sales are noticeably above the 2019/20 crop year pace. Major purchases were reported for Mexico, China, and the Netherlands.

Soybean meal sales for the 2020/21 marketing year of 199.3 TMT were 123 TMT below last week and 37 percent under the prior four-week average of 317 TMT. There were no sales for the 2021/22 crop seasons, leaving total sales at 199.3 TMT. Combined crop year…