According to the USDA weekly export sales report, U.S. sorghum export sales hit a marketing year high of 444,500 tons to unknown destinations. The export numbers could be signs of China trade deal buying. Allendale Chief Marketing Strategist Rich Nelson says also, a purchase of 7,200 tons of U.S. pork to China could be the best sale since November 2019. “Keep in mind, we’re being compared to recent weeks of 5,000 tons. The biggest disappointment in export sales comes from soybeans. This is the lowest sale in eight weeks.” Analysts are expecting soybean sales to pick up in March, at the earliest. It’s unknown how aggressive China will be at purchasing soybeans in the first few weeks.
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