U.S. wheat export sales hit a new marketing annual high, driven by Chinese demand, the USDA said. The total sales of 1.5 million tonnes were at the midpoint of the marketing year, a relatively disappointing figure as US wheat exports were constrained by the relative strength of the US dollar and Russia's dominance of global markets.
Actual shipments of soybeans exceeded USDA's needs for the current marketing year**. Soybean production was 1,084,000 tonnes (39.8 million bushels), down 23% for the week and 46% from the four-week average. China procured 71830,000 tons, Germany purchased 11320,000 tons, the destination of which is unknown canceled 14430,000 tons. So far, soybean exports in this marketing year are 122.6 billion bushels, compared to 153.1 billion bushels.
Rice sales were 121,100 tons, down 6% from the previous week and 1% from the four-week average. Japan bought 40,000 tonnes and Mexico 27,900 tonnes. Rice exports were 1,700,500 tons, compared to 850,000 tons last year.
Sorghum sales were 78,100 tonnes (3.1 million bushels), down 35% from the previous week and 40% from the four-week average. Eritrea bought 63,000 tons and China 15,000 tons. The volume of sorghum exports is 144.3 billion bushels, compared to 14.2 million bushels a year ago. 60,000 tonnes (2.4 million bushels) were sold for 2024 25 deliveries to China.
Corn production was reported at 1,418,600 tonnes (55.8 million bushels), up 10% from the previous week but 12% below the four-week average. Mexico procured 669,800 tonnes and unknown destinations 386,400 tonnes. At the beginning of the second quarter of the current marketing year, corn exports were 10700 million bushels, compared to 787.5 billion bushels. and four-week averages. China purchased 1.12 million tons and the Philippines purchased 12410,000 tons.
In the middle of the 2023 marketing year, wheat exports were 53.4 billion bushels, compared to 5 in 2022-2318.5 billion bushels. In 2024, 18,000 tons (700,000 bushels) were sold for 25 deliveries to Colombia.
Soybean oil production was reported to be down from both the previous week and the four-week average, and all of it was sold to Canada. Cumulative soybean oil exports were 28,300 tons, compared to 30,400 tons in the same period last year.