U.S. Soybeans Continue Flow to China

Nov 29, 2014

Soybean exports exceed 2 million metric tons (MT) extending the record setting streak to four weeks. China continues to be the largest recipient receiving over 75% of the total U.S. soybeans exported. The soybean exports over the past four weeks have outpaced the soybean exports from the prior seven months. Despite posting the fourth highest weekly export total in U.S. history, soybean exports declined from last week. Corn exports rebounded from a marketing year low and wheat exports also increased. Corn, soybean, and wheat sales all increased for the first time since early October.

South American planting began in November to a slow start as farmers battled dry conditions. The pace has improved in recent weeks as farmers advance on the five-year average. Recent rains in the area have improved the outlook for the crop which is heavier in soybeans than in past years due to the sagging price of corn globally.

Weekly net corn sales were 944,900 MT, a 4% increase from last week and a 14% increase from the prior 10-week average. Increases were reported from unknown destinations, Japan, Colombia, Egypt, and Taiwan. Exports were 616,400 MT, a 59% increase from last week, but a 14% decrease from the prior 10-week average. The primary destinations were Mexico, Egypt, Colombia, Japan, and Venezuela.

Weekly net soybean sales were 1,485,400 MT, a 208% increase from last week and a 1% increase from the prior 10-week average. Increases were reported from China, the Netherlands, unknown destinations, Russia, the United Kingdom, Egypt, Mexico, and Canada. Exports were 2,781,100 MT, a 10% decrease from last week, but a 75% increase from the prior 10-week average. Primary destinations were China, the Netherlands, Turkey, Mexico, the United Kingdom, Taiwan, and Japan.

Weekly net wheat sales were 431,500 MT, a 19% increase from last week and a 9% increase from the prior 10-week average. Increases were reported from Japan, Taiwan, Mexico, Indonesia, Thailand, and Algeria. Decreases were reported from unknown destinations, Panama, South Korea, Ecuador, and Venezuela. Exports were 517,300 MT a 190% increase from last week and a 20% increase from the prior 10-week average. Primary destinations were Japan, the Philippines, Yemen, Indonesia, Brazil, and Taiwan.

Source: USDA Foreign Agricultural Service

Article from: Farmland Forecast

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Video: Spring 2026 weather outlook for Wisconsin; What an early-arriving El Niño could mean

Northeast Wisconsin is a small corner of the world, but our weather is still affected by what happens across the globe.

That includes in the equatorial Pacific, where changes between El Niño and La Niña play a role in the weather here -- and boy, have there been some abrupt changes as of late.

El Niño and La Niña are the two phases of what is collectively known as the El Niño Southern Oscillation, or ENSO for short. These are the swings back and forth from unusually warm to unusually cold sea surface temperatures in the Pacific Ocean along the equator.

Since this past September, we have been in a weak La Niña, which means water temperatures near the Eastern Pacific equator have been cooler than usual. That's where we're at right now.

Even last fall, the long-term outlook suggested a return to neutral conditions by spring and potentially El Niño conditions by summer.

But there are some signs this may be happening faster than usual, which could accelerate the onset of El Niño.

Over the last few weeks, unusually strong bursts of westerly winds farther west in the Pacific -- where sea surface temperatures are warmer than average -- have been observed. There is a chance that this could accelerate the warming of those eastern Pacific waters and potentially push us into El Niño sooner than usual.

If we do enter El Nino by spring -- which we'll define as the period of March, April and May -- there are some long-term correlations with our weather here in Northeast Wisconsin.

Looking at a map of anomalously warm weather, most of the upper Great Lakes doesn't show a strong correlation, but in general, the northern tiers of the United States do tend to lean to that direction.

The stronger correlation is with precipitation. El Niño conditions in spring have historically come with a higher risk of very dry weather over that time frame, so this will definitely be a transition we'll have to watch closely as we move out of winter.