Export sales of U.S. corn, wheat and sorghum all picked up in the second week of 2022, according to the latest weekly USDA trade data. Nigeria led the way in commitments for U.S. wheat, buying 101,300 metric tons – about a third of the overall sales of 380,600 tons – while Japan and Mexico were the primary corn buyers in a week that saw total sales reach about 1.1 million tons.
And net sales of U.S. sorghum hit a 2021-22 marketing year high of 477,500 tons for the week of January 7-13. Sales were primarily to China and “unknown destinations,” which could also turn out to be China. Chinese buyers even purchased 53,000 tons of sorghum for delivery in the 2022-23 marketing year.
The U.S. shipped 391,400 tons of wheat during the seven-day period (a 52% increase from the first week of January), about 1.3 million tons of corn (a marketing-year high) and 163,300 tons of sorghum to foreign customers.
China is also snapping up next year’s soybeans. They are buying U.S. soybeans from the old crop as well as the crop that hasn’t even been planted yet. USDA recently announced new Chinese commitments to buy 264,000 metric tons of U.S. soybeans for the 2022-23 marketing year.
According to Mac Marshall, Vice President of Market Intelligence at the United Soybean Board and U.S. Soybean Export Council, it’s another sign that China’s pork industry continues to strengthen. The purchases are "reflective of the rebound in their pig herd and demonstrate a clear desire for U.S. soy – not just in the present, but also the future.”
EDITOR’S TAKE:
It is rewarding to see export numbers reflect such strong demand for U.S. grains overseas. If you have been reading the AIR, you’re already aware of the importance of exports to agriculture overall and the grain industry in particular. Exports underpin the markets and provide additional income for farmers/ranchers in any given year. Without exports, domestic production would simply overwhelm and crash commodity markets here in the U.S. Thank goodness for strong export sales that help maintain our optimism for another solid income year for farmers/ranchers. With any help from Mother Nature, they will realize another year of solid returns and be in the market for a truck or two along the way!
