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Corn: Net sales of 1,109,600 MT (43,683,010 bushels) for 2023/2024 were up 3 percent from the previous week, but unchanged from the prior 4-week average. This was within the range of expectations and similar to the number we saw in last week’s report.
Soybeans: Net sales of 613,500 MT (22,542,259 bushels) for 2023/2024 were up noticeably from the previous week and from the prior 4-week average. This was above the top end of expectations.
Wheat: Net sales of 271,100 MT (9,961,217 bushels) for 2023/2024 were down 17 percent from the previous week and 16 percent from the prior 4-week average. This was at the lower end of expectations.
Beef: Net sales of 14,000 MT for 2024 were up 14 percent from the previous week, but down 10 percent from the prior 4-week average.
Pork: Net sales of 36,400 MT for 2024 were up 12 percent from the previous week and 9 percent from the prior 4-week average.
Cancellation of Export Sales to China
Yesterday’s rumors were confirmed this morning. Private exporters reported cancellations export sales of 130,000 metric tons of soft red winter wheat for delivery to China during the 2023/2024 marketing year.
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