The Weekly Export Sales Report for the week ended Sept. 12, 2013, signaled some value buying is occurring among soybean exports as sales surged to top expectations. Weekly wheat export sales also impressed, but corn sales fell just short of expectations. Cotton export sales were lackluster. Beef export sales continue to impress and pork export sales also improved last week.
USDA Weekly Export Sales Report | |
Corn | |
Actual Sales (in metric tons -- MT)
| 2013-14: 437,400 MT |
Trade Expectations
| 450,000 to 650,000 MT |
Weekly Sales Details
| Net sales of 437,400 MT for 2013-14 resulted as increases for Mexico (136,500 MT, including 33,300 MT switched from unknown destination and decreases of 5,000 MT), Japan (108,500 MT, including 64,300 MT switched from unknown destinations and decreases of 10,500 MT), China (64,500 MT, including 55,000 MT switched from unknown destinations), Peru (40,000 MT), and Taiwan (35,900 MT), were partially offset by decreases for unknown destinations (18,000 MT). |
Weekly Export Details
| Exports of 518,800 MT were primarily to Mexico (196,400 MT), Japan (104,300 MT), Venezuela (67,000 MT), China (60,000 MT), and the Dominican Republic (26,400 MT). |
Comments and Performance Indicators
| Sales were below expectations. Export commitments for the 2013-14 marketing year are running 31% ahead of year-ago, which compares to 27% ahead of year ago last week. USDA projects exports in 2013-14 to be 66.7% above the previous marketing year.
|
Wheat | |
| Actual Sales (in metric tons -- MT) | Combined: 701,900 MT 2013-14: 704,400 MT 2014-15: -2,500 MT |
| Trade Expectations | 500,000 to 650,000 MT |
| Weekly Sales Details | Net sales of 704,400 MT for delivery in the 2013-14 marketing year were up 30% from the previous week and 25% from the prior 4-week average. Increases were reported for Nigeria (159,200 MT), Brazil (120,400 MT, including 40,000 MT switched from unknown destinations), Mexico (93,800 MT), Sri Lanka (63,500 MT, including 65,000 MT switched from unknown destinations and decreases of 2,500 MT), Venezuela (61,700 MT), and the Philippines (44,800 MT). Decreases were reported for China (5,500 MT), Honduras (2,500 MT), and unknown destinations (1,800 MT). Net sales reductions of 2,500 MT for 2014-15 were for Malaysia. |
| Weekly Export Details | Exports of 1,204,400 MT--a marketing-year high--were up 32% from the previous week and 35% from the prior 4-week average. The primary destinations were China (406,700 MT), Brazil (186,400 MT), Japan (128,800 MT), Nigeria (96,000 MT), Mexico (68,900 MT), Sri Lanka (63,500 MT), Thailand (54,500 MT), and the Philippines (44,100 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments for the 2013-14 marketing year are running 38% ahead of year-ago, compared to 38% ahead last week. USDA projects exports in 2013-14 to be up 7.0% compared with the previous marketing year.
|
Soybeans | |
| Actual Sales (in metric tons -- MT) | 2013-14: 923,300 MT |
| Trade Expectations | 650,000 to 750,000 MT |
| Weekly Sales Details | Net sales of 923,300 MT for 2013-14 resulted as increases for unknown destinations (530,500 MT), China (129,000 MT), South Korea (85,200 MT), Mexico (60,700 MT), and Indonesia (41,000 MT). |
| Weekly Export Details | Exports of 74,200 MT were primarily to Mexico (26,300 MT), Japan (22,000 MT), Indonesia (6,700 MT), Colombia (4,400 MT), and Taiwan (4,300 MT). |
| Comments and Performance Indicators | Sales were well above expectations. Export commitments for the new marketing year are running 7% ahead of year-ago compared to 6% ahead last week. USDA projects exports in 2013-14 to be 4.2% above the previous marketing year.
|
Soymeal | |
| Actual Sales (in metric tons -- MT) | Combined: 46,600 MT 2012-13: 26,300 MT 2013-14: 20,300 MT |
| Trade Expectations | 100,000 to 230,000 MT |
| Weekly Sales Details | Net sales of 26,300 MT for 2012-13 resulted as increases for Honduras (12,600 MT, including 14,800 MT switched from unknown destinations and decreases of 2,200 MT), Venezuela (9,500 MT, including 13,000 MT switched from unknown destinations and decreases of 3,500 MT), Canada (8,300 MT), Nicaragua (8,000 MT), and the Philippines (3,800 MT), were partially offset by decreases for unknown destinations (20,800 MT) and Mexico (600 MT). Net sales of 20,300 MT for 2013-14 resulted as increases for unknown destinations (10,000 MT), the Dominican Republic (9,000 MT), Nicaragua (5,600 MT), and Guatemala (3,800 MT), were partially offset by decreases for Honduras (8,100 MT) and Trinidad (2,200 MT). |
| Weekly Export Details | Exports of 90,500 MT were down 11% from the previous week and 10% from the prior 4-week average. The primary destinations were Mexico (25,700 MT), Canada (18,000 MT), Venezuela (13,000 MT), Honduras (12,600 MT), and Panama (8,400 MT). |
| Comments and Performance Indicators | Sales were below expectations. Export commitments are running 14% ahead of last year’s pace compared to 16% ahead of year-ago last week. USDA projects exports in 2012-13 to be up 13.9% from the previous marketing year. |
Soyoil | |
| Actual Sales (in metric tons -- MT) | 2012-13: 20,600 MT |
| Trade Expectations | 5,000 MT to 15,000 MT |
| Weekly Sales Details | Net sales of 20,600 MT for 2012-13 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Canada (16,400 MT), Venezuela (3,000 MT), and Mexico (1,100 MT). |
| Weekly Export Details | Exports of 15,700 MT were down 48% from the previous week, but up 60% from the prior 4-week average. The primary destinations were Norway (8,000 MT), Colombia (3,000 MT), Canada (2,500 MT), and Mexico (1,200 MT). |
| Comments and Performance Indicators | Sales were well above expectations. Export commitments for the new marketing year are 52% ahead of year-ago, compared to 50% ahead last week. USDA projects exports in 2012-13 to be 46.9% ahead of the previous marketing year. |
Cotton | |
| Actual Sales (in running bales -- RB) | 2013-14: 103,100 RB |
| Trade Expectations | NA |
| Weekly Sales Details | Net Upland sales of 103,100 RB for 2013-14 were primarily for Turkey (28,000 RB), China (20,300 RB), Mexico (20,100 RB), Vietnam (13,000 RB), and Thailand (9,800 RB). Decreases were reported for El Salvador (400 MT). |
| Weekly Export Details | Exports of 112,900 RB were primarily to Mexico (21,800 RB), Vietnam (20,500 RB), China (18,600 RB), Turkey (8,400 RB), and Indonesia (8,200 RB). |
| Comments and Performance Indicators | Export commitments are 24% behind year-ago compared to 23% behind year-ago last week. USDA projects exports in 2013-14 to be 20.2% behind of the previous marketing year. |
Beef | |
| Actual Sales (in metric tons -- MT) | Combined: 17,100 MT |
| Weekly Sales Details | Net sales of 16,800 MT for 2013 were primarily for Japan (4,500 MT), Mexico (3,800 MT), Hong Kong (3,200 MT), South Korea (2,800 MT), and Canada (1,400 MT). Net sales of 300 MT for 2014 were reported for Mexico. |
| Weekly Export Details | Exports of 13,400 MT were up 13% from the previous week, but down 1% from the prior 4-week average. The primary destinations were Japan (2,700 MT), South Korea (2,500 MT), Hong Kong (2,500 MT), Mexico (2,400 MT), and Canada (1,600 MT). |
| Comments and Performance Indicators | Exports compare to 18,900 MT last week. USDA projects exports in 2013 to be 1.8% below last year’s total. |
Pork | |
| Actual Sales (in metric tons -- MT) | 2013: 11,200 MT |
| Weekly Sales Details | Net sales of 11,200 MT for 2013 were primarily for Canada (3,100 MT), Mexico (3,000 MT), Hong Kong (2,600 MT), Japan (2,200 MT), and the Philippines (200 MT). |
| Weekly Export Details | Exports of 8,600 MT were up 8% from the previous week, but down 2% from the prior 4-week average. The primary destinations were Mexico (3,500 MT), Japan (1,300 MT), Hong Kong (1,200 MT), Canada (1,000 MT), and South Korea (300 MT). |
| Comments and Performance Indicators | Exports compare to 7,300 MT last week. USDA projects exports in 2013 to be 5.1% below last year’s total. |
