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US agricultural export sales report highlights mixed results

Wheat sales dipped due to decreased orders from China, while corn and soybean sales showed strong gains.

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The United States Department of Agriculture (USDA) Foreign Agricultural Service's (FAS) latest U.S. Export Sales report for the week ending April 11, 2024, showcases varied performance across major agricultural commodities. Notable shifts in sales and exports reflect changing international demand dynamics and market conditions.

Wheat experienced net sales reductions of 93,600 metric tons (MT) for the 2023/2024 marketing year, significantly down from previous averages. Despite increases in orders from countries like Indonesia and Honduras, major reductions for China and other markets led to an overall decrease. Meanwhile, the 2024/2025 season registered stronger sales, particularly for markets like Mexico and Japan.

Corn sales showed more positive trends, with net sales reaching 501,200 MT for 2023/2024, marking a 54 percent increase from the previous week, though still 45 percent below the four-week average. Key buyers included Colombia, Mexico, and China. Corn exports totaled 1,546,200 MT, with primary shipments to Mexico and Colombia.

In the sorghum sector, the U.S. saw net sales reductions of 1,800 MT, with exports significantly lower at 76,200 MT, primarily directed to China.

Rice sales dropped to a marketing-year low of 5,900 MT, down 88 percent from the previous week, with major buying interest from Mexico and Guatemala. Rice exports also decreased, led by shipments to Colombia and Canada.

Soybeans performed robustly with net sales of 485,800 MT, an increase of 59 percent from the prior week. China, Mexico, and Indonesia were significant contributors to this rise. Soybean exports were recorded at 481,000 MT, with the main destinations being China and Indonesia.

The report also detailed cotton sales, with Upland cotton reaching 146,100 running bales (RB) for 2023/2024, predominantly driven by demand from China and Pakistan. Cotton exports saw a slight decrease in volume compared to previous weeks.

Beef and pork exports showed contrasting trends. Beef reached a marketing-year high with exports of 16,700 MT, primarily to Japan and South Korea. However, pork hit a marketing-year low with sales of 21,800 MT, despite a recovery in exports led by demand from Mexico and Japan.

The report reflects the dynamic nature of U.S. agricultural exports, influenced by geopolitical shifts, market access changes, and international demand fluctuations.

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