A sluggish week for corn, soybean sales

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A sluggish week for corn, soybean sales

The USDA says corn and soybean sales last week were a marketing year low.  Corn sales declined 66 percent from the previous week and dropped 59 percent compared to their prior 4-week averages. Soybean sales dropped 62 percent from the previous week and were down 47 percent from the prior 4-week average.   China, however, was still the largest purchaser of soybeans last week.

Rice sales dropped 33 percent on the week, but are still up 19 percent compared to the prior 4-week averages.  Increases were primarily for South Korea and Mexico. 

Cotton sales dropped 1 percent on the week, but are 14 percent above the 4-week averages.  The largest purchasers were China and Vietnam.

Beef sales declined 40 percent on the week, but are still above the prior 4-week averages.  The largest buyers were Japan and South Korea.

Pork sales dropped 59 percent from the prior week and declined 44 percent from the prior 4-week averages.  Mexico was the primary buyer last week.

The next set of supply and demand estimates is out January 12^th.