Marketing Year Low Export Sales for Soybeans and Meal

We saw a marketing year low for soybean and soybean meal sales in the Weekly Export Sales Report from USDA. For the week ending December 23rd, soybean net sales of 524,000 MT for 2021/2022–a marketing-year low–were down 35 percent from the previous week and 56 percent from the prior 4-week average. Soybean meal net sales of 69,500 MT for 2021/2022–a marketing-year low–were down 77 percent from the previous week and 63 percent from the prior 4-week average.

Corn for the week ending December 23rd came in with net sales of 1,246,500 MT for 2021/2022 were up 27 percent from the previous week, but down 2 percent from the prior 4-week average. Wheat had net sales of 199,500 metric tons (MT) for 2021/2022 were down 53 percent from the previous week and 43 percent from the prior 4-week average.

We could consider sales neutral for corn, bearish for soybeans and bullish for wheat.

Beef net sales of 6,300 mt for 2021 were down 48% from the previous week and 55% from the prior four-week average. The three largest buyers were Japan (2,600 mt), South Korea (1,800 mt) and China (1,000 mt). Pork net sales of 3,200 mt for 2021 were down 89% from the previous week and 90% from the prior four-week average. The three largest buyers were Mexico (14,700 mt), Japan (2,500 mt) and Nicaragua (100 mt).

View the full weekly export sales numbers here: https://apps.fas.usda.gov/export-sales/highlite.htm

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