US corn and soybean exports increased

Exports of soybean and maize rose to their lowest level in a business year in the week ended May 12, according to data from the US Department of Agriculture (USDA). Soybean sales stood at 752,700 metric tonnes, up from 143,700 tonnes in the previous week, the lowest level since the start of the September 2021-2022 marketing year, the company said in a statement.

China bought 392,600 tonnes, the Netherlands 84,600 tonnes, Egypt 58,300 tonnes, Taiwan 55,500 tonnes and Bangladesh 55,000 tonnes. The total would have been higher, but the unidentified country canceled 110,800 tonnes of exports, the government said.

In the 2022-2023 marketing year, sales reached 149,500 tonnes. Exports rose to 957,200 tonnes from 471,700 tonnes in the previous week. Maize sales also rose to 435,300 metric tons from 192,700 metric tons, the lowest level since early September, according to the USDA.

Taiwan bought 64,900 tonnes, South Korea 59,500 tonnes, China 59,300 tonnes, Guatemala 49,500 tonnes and Canada 40,000 tonnes of US goods. Unknown location blocked exports of 24,700 tonnes, Colombia canceled 7,300 tonne orders and Japan canceled 6,500 tonnes purchases, the company said.

Sales for delivery in 2022-2023 were recorded at 588,500 tonnes. During the week, maize exports fell by 8% to 1.38 million tonnes. Wheat sales in the first week of May 12 fell to 8,500 metric tons, the lowest level since the start of the June 1 trading year and 82% lower than the previous four-week average, the USDA said.