WEEKLY EXPORT SALES LARGER THAN AVERAGE
The USDA says export sales of several key U.S. commodities showed solid improvements. Soybeans, beef, pork, wheat, soybean oil, rice and cotton moved higher during the week ending January 19th, all seeing solid demand from several key trading partners and even the commodities that saw week to week declines were above average. Export demand is driven by several factors, including the price of the dollar relative to currencies of other exporting nations and while the dollar index is priced above a year ago, the trend over the last three months is lower. The USDA’s next set of supply and demand estimates is out February 8th.
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