U.S. Export Sales Report (1-6-2022)

by | Jan 6, 2022 | 5 Ag Stories, News

The U.S. Department of Agriculture (USDA) released its weekly U.S. Export Sales Report on Thursday.

This week?s report was less than ideal. Allendale commodity broker Greg McBride said that the holidays could?ve had some influence on these low numbers.

?Well, it was a disappointing report today,? McBride said. ?It was a marketing year low for soybeans and wheat. Corn sales were a little bit bearish as well. You have to remember this was data that came from the holiday week- the Thursday before Christmas through the Thursday afterwards- so there could be a little bit of holiday play in there. It came in at about 256,000 tons for corn- well below the average guess. Beans came in at around 449,000 tons. That was actually above the average guess, but that was helped out by some new crop sales. Wheat had a marketing year low at 51,000 tons. We have now seen 3-4 weeks in a row of lower export sales- especially in the soybeans. That is something we have talked about quite a bit as far as the window closing and China and others starting to look to Brazil for some lower-cost beans.?

Despite the disappointing numbers, McBride said this isn?t too far off from a normal report at this time of year.

?This is a yearly or seasonal event,? McBride said. ?Basically, as soybeans become available in Brazil with the early and aggressive planting that we saw, they are already harvesting, so the sales that we are seeing right now will probably be taken by the end of the month or early into February.?

McBride added that the corn sales were the biggest disappointment from this report, as they had been very strong lately and they usually get better as we head into January.

The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.