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USDA weekly export sales for the week ended July 4 showed soybean meal sales down 75% from the prior week, with beef sales down 46%. Corn net sales were 538,300 MT for 2023/24 and 116,500 MT for 2024/25, with major buyers including Mexico, Japan and Colombia.
Weak meal export sales point to soft foreign demand for US soymeal, which pressures meal prices, while corn sales support ongoing feed grain demand.
profarmer.comHillari MasonJul 11, 2024After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Weekly soymeal export sales fell 75% to marketing-year lows, signaling weak export demand that weighed on meal prices.
