US weekly net export sales of soybeans rose in the week ending 21 November, while those of corn and wheat were down from the previous seven days, according to the US Department of Agriculture (USDA).
Soybeans
US weekly soybean net export sales reached 2.49mn t, rising on the week and exceeding the previous four-week average. Total commitments of the 2024-25 crop so far this season (September-August) reached 33.87mn t, compared with 30.88mn t at the same time last year.
So far, total commitments account for 68pc of the US' projected soybean exports for 2024-25, according to the USDA's forecast, broadly in line with 67pc at this point last year.
China booked 1.09mn t of US soybeans last week, with 306,000t of this volume having switched from a previously unknown destination.
Outstanding sales of US soybeans to China stood at 4.32mn t, with total commitments to the country — exports and outstanding sales — having reached 15.81mn t since the start of the season.
Grains
US weekly corn net export sales declined by 29pc to 1.06mn t in the week ending 21 November. But total commitments since the start of the season in September reached 32.46mn t, or 55pc of the USDA's forecast 2024-25 exports, up by 8mn t and 13 percentage points, respectively, on the year.
Export sales to Mexico rose by 405,200t in the week ending 21 November, to reach total commitments of 13.31mn t, up on the year by 1.31mn t. Of the total volume, 8.21mn t had yet to be shipped as of 21 November.
Total commitments of US current-crop corn to China stood at 26,400t, a sharp drop from 1.31mn t a year earlier.
As for wheat, weekly net export sales declined by a third to 366,800t in the week ending 21 November, pushing total commitments of US 2024-25 crop US wheat to 15.17mn t, up by 2.48mn t on the year. This represents 68pc of the USDA's forecast total US wheat exports for 2024-25, nearly in line with the 66pc of last season's crop committed a year earlier.
Meanwhile, US weekly net export sales of 2024-25 crop sorghum were unchanged on the week at 121,200t. Total commitments reached 1.15mn t, down sharply from 3.47mn t of the previous season's crop committed a year earlier.
