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USDA REPORTS RECORD SOYBEAN, BEEF EXPORTS
BrownfieldAgNews reports:

USDA reports soybean export sales for the week ending March 6 were larger than expected, while corn, soybean products, and wheat were within pre-report estimates.

Physical shipments of corn and soybeans were above what's needed weekly to meet USDA projections for the 2013/14 marketing year, but wheat fell short of its mark.

Wheat came out at 476,900 tons (20.8 million bushels), down 14% from the week ending February 27 and 2% lower than the four week average. Mexico picked up 213,100 tons and Brazil bought 93,100 tons. Sales of 89,200 tons (3.3 million bushels) for 2014/15 delivery were mainly to the Philippines.

Corn was reported at 683,400 tons (27.1 million bushels), 55% less than the previous week and 37% below the four week average. Japan purchased 262,400 tons and South Korea picked up 212,200 tons, but unknown destinations canceled on 362,600 tons. Sales of 103,600 tons (4.1 million bushels) were to unknown destinations (101,600 tons) and Mexico (2,000 tons).

Soybeans were pegged at 113,500 tons (4.2 million bushels), a drop of 85% on the week and a decrease of 65% from the four week average. Mexico bought 136,400 tons and Japan purchased 65,600 tons, while unknown destinations canceled on 96,000 tons and China canceled on 81,800 tons. Sales of 776,900 tons (28.5 million bushels) were mostly to China (593,000 tons) and unknown destinations (141,500 tons).

Soybean meal came out at 160,000 tons, down 31% from the week before, but up 8% from the four week average. The Philippines picked up 69,300 tons and Thailand bought 63,000 tons, but unknown destinations canceled on 145,600 tons. Sales of 143,000 tons for 2014/15 delivery were to unknown destinations (125,000 tons) and Ireland (18,000 tons).

Soybean meal was reported at 7,100 tons, 58% lower than the prior week and 66% under the four week average. Mexico purchased 3,100 tons and the Dominican Republic picked up 1,200 tons.

Net beef sales were a marketing year high at 17,700 tons, an increase of 60% from the previous week and up 44% from the four week average. The listed buyers were Japan (8,400 tons), Hong Kong (3,800 tons), South Korea (2,700 tons), Canada (1,300 tons), and Vietnam (500 tons).

Net pork sales totaled 7,100 tons, down 25% from the previous week and 44% lower than the four week average. The reported purchasers were Japan (2,200 tons), Canada (1,700 tons), South Korea (1,200 tons), Colombia (400 tons), and Hong Kong (300 tons).


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