Wheat exports lag a year ago, other grains and oilseeds ahead
January 5, 2010
by Jay Sjerven
U.S. wheat exports continued to lag the year-ago pace by a wide margin, but export sales of other major grains and oilseeds were stronger. The U.S. Department of Agriculture indicated through the week ended Dec. 24, exports and undelivered sales of U.S. wheat for 2009-10 (June-May) were 25% lower than a year ago. The U.S.D.A. on Dec. 10 forecast U.S. wheat exports in the current marketing year at 875 million bus, which after the anemic 850 million bus exported in 2002-03 would be the lowest wheat outgo since 1970-71.
Exports and outstanding sales of U.S. corn in 2009-10 (September-August) were running 19% ahead of the year-ago pace. The U.S.D.A. projected corn exports in the current marketing year at 2,050 million bus, up 10% from 1,858 million bus as the 2008-09 outgo but down 16% from a record 2,437 million bus in 2007-08. Soybean exports and outstanding sales for 2009-10 (September-August) to date were 55% higher than a year earlier. The U.S.D.A. forecast for soybean exports in the current year is a record 1,340 million bus. Soybean oil exports and outstanding sales for 2009-10 (October-September) were an astounding 279% higher than a year ago. The U.S.D.A. projected U.S. soybean oil exports in the current year at a record 2,307 million lbs. Exports and undelivered sales of U.S. soybean meal in 2009-10 (October-September) were 86% higher than a year ago. The U.S.D.A. forecast for soybean meal exports this year was 9,600,000 tons, which would be the second-highest outgo on record.
U.S. rice exports and undelivered sales in 2009-10 (August-July) to date were running 3% ahead of the year-earlier pace. The U.S.D.A. forecast U.S. rice exports this year at 97 million cwts, up 4% from 93.6 million cwts in 2008-09 but down 7% from 104.7 million cwts in 2007-08.