Weekly Bean Export Sales Top Expectations
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USDA Weekly Export Sales Report |
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Corn |
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| Actual Sales (in MT) |
Combined: 901,400 |
| Trade Expectations (MT) | 2017-18: 800,000-1,100,000 2018-19: 0-100,000 |
| Weekly Sales Details | Net sales of 811,400 MT for 2017-18 were down 37% from the previous week and 33% from the prior 4-week average. Increases were reported for Japan (222,700 MT, including 73,300 MT switched from unknown destinations and decreases of 3,000 MT), Spain (198,000 MT), Peru (112,900 MT, including 45,000 MT switched from unknown destinations), Mexico (61,800 MT), and Brazil (60,700 MT). For 2018-19, net sales of 90,000 MT were reported for Mexico. |
| Weekly Export Details | Exports of 598,300 MT were primarily to Mexico (221,400 MT), Japan (203,100 MT), Peru (73,300 MT), Colombia (41,500 MT), and Costa Rica (24,700 MT). |
| Comments and Performance Indicators | Old- and new-crop sales were as expected. Export commitments at the start of the 2017-18 marketing year are running 31% behind year-ago compared with 30% behind last week. USDA projects exports in 2017-18 at 1.850 billion bu., down 19.3% from the previous marketing year. |
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Wheat |
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| Actual Sales (in MT) |
2017-18: 347,800 |
| Trade Expectations (MT) | 2017-18: 300,000-500,000 |
| Weekly Sales Details | Net sales of 347,800 metric tons for delivery in marketing year 2017-18 were down 4% from the previous week and 15% from the prior 4-week average. Increases were for South Korea (100,200 MT), Mexico (69,100 MT), the Philippines (55,000 MT), Nigeria (42,000 MT), Ecuador (33,800 MT, including 31,000 MT switched from unknown destinations), and Vietnam (30,000 MT, switched from unknown destinations and decreases of 100 MT). Reductions were reported for unknown destinations (54,600 MT). For 2018-19, net sales for Panama (1,500 MT) were offset by decreases for unknown destination (1,500 MT). |
| Weekly Export Details | Exports of 378,000 MT were up noticeably from the previous week and up 2% from the prior 4-week average. The primary destinations were Taiwan (52,300 MT), South Korea (50,700 MT), Iraq (49,500 MT), Guatemala (36,400 MT), and Ecuador (33,800 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments for 2017-18 are running 5% behind year-ago versus 4% behind the week prior. USDA projects exports in 2017-18 at 975 million bu., down 7.6% from the previous marketing year. |
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Soybeans |
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| Actual Sales (in MT) |
Combined: 1,982,200 |
| Trade Expectations (MT) | 2017-18: 1,450,000-1,850,000 2018-19: 0-50,000 |
| Weekly Sales Details | Net sales of 1,967,000 MT for 2017-18 were down 8% from the previous week, but up 29% from the prior 4-week average. Increases were reported for China (1,531,400 MT, including 702,000 MT switched from unknown destinations and decreases of 104,600 MT), the Netherlands (140,900 MT, including 132,000 MT switched from unknown destinations and decreases of 700 MT), Pakistan (132,000 MT, including 66,000 MT switched from unknown destinations), Vietnam (73,100 MT, including 64,000 MT switched from unknown destinations), and Japan (68,700 MT, including 28,100 MT switched from unknown destinations and decreases of 1,000 MT). Reductions were reported for unknown destinations (211,000 MT). For 2018-19, net sales of 15,200 MT were reported for Japan. |
| Weekly Export Details | Exports of 2,687,900 MT were primarily to China (2,108,300 MT), the Netherlands (140,900 MT), Japan (94,500 MT), Vietnam (71,400 MT), and Pakistan (66,000 MT). |
| Comments and Performance Indicators | Sales for 2017-18 were even stronger than anticipated, while 2018-19 sales were in line with expectations. Export commitments are running 16% behind year-ago compared with 15% behind last week. USDA projects exports in 2017-18 at 2.250 billion bu., up 3.5% from year-ago. |
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Soymeal |
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| Actual Sales (in MT) | Combined; 224,500 2017-18: 225,000 2018-19: -500 |
| Trade Expectations (MT) |
2017-18: 100,000-250,000 |
| Weekly Sales Details | Net sales of 225,000 MT for 2017-18 were reported for Mexico (93,400 MT, including decreases of 200 MT), Vietnam (40,000 MT, switched from unknown destinations), Japan (30,900 MT), Canada (17,300 MT, including decreases of 100 MT), Nicaragua (11,100 MT, including 7,600 MT switched from Guatemala and decreases of 900 MT), and Colombia (9,500 MT). Reductions were reported for Guatemala (7,100 MT) and unknown destinations (500 MT). For 2018-19, net sales reductions of 500 MT were reported for Nicaragua. |
| Weekly Export Details | Exports of 195,100 MT were reported to Thailand (52,600 MT), the Dominican Republic (50,800 MT), Mexico (42,600 MT), Canada (17,000 MT), Nicaragua (6,700 MT), Costa Rica (4,400 MT), and Sri Lanka (4,100 MT). |
| Comments and Performance Indicators | Sales were near the top end of expectations. Export commitments for 2017-18 are running 5% ahead of year-ago versus 8% ahead of year-ago last week. USDA projects exports in 2017-18 to be up 3.5% from the previous marketing year. |
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Soyoil |
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| Actual Sales (in MT) |
2017-18: 27,000 |
| Trade Expectations (MT) | 2017-18: 8,000-30,000 |
| Weekly Sales Details | Net sales of 27,000 MT for 2017-18 were reported for South Korea (13,000 MT), the Dominican Republic (6,000 MT), Colombia (5,400 MT), and Mexico (2,800 MT, including decreases of 1,500 MT). |
| Weekly Export Details | Exports of 41,800 MT were reported to South Korea (27,000 MT), Guatemala (8,900 MT), Mexico (2,600 MT), and Colombia (1,700 MT). |
| Comments and Performance Indicators | Sales were near the upper end of expectations. Export commitments for the 2017-18 marketing year are running 48% behind year-ago compared with 53% behind year-ago last week. USDA projects exports in 2017-18 to be down 17.6% from the previous year. |
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Cotton |
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| Actual Sales (in RB) | Combined: 256,600 2017-18: 209,500 2018-19: 47,100 |
| Weekly Sales Details | Net sales of 209,500 running bales for 2017-18 were down 28% from the previous week and 2% from the prior 4-week average. Increases were reported for Pakistan (65,400 RB), China (43,500 RB, including decreases of 1,600 RB), Vietnam (40,600 RB, including 500 RB switched from Japan and decreases of 100 RB), Turkey (11,400 RB), and Thailand (10,100 RB, including 1,100 RB switched from Indonesia). Reductions were reported for Mexico (10,500 RB) and Nicaragua (1,100 RB). For 2018-19, net sales of 47,100 RB were reported for Pakistan (22,000 RB), Indonesia (14,100 RB), and China (11,000 RB). |
| Weekly Export Details | Exports of 86,800 RB were down 8% from the previous week and 16% from the prior 4-week average. The primary destinations were reported Vietnam (23,600 RB), Mexico (15,200 RB), China (9,400 RB), South Korea (7,400 RB), and Indonesia (7,100 RB). |
| Comments and Performance Indicators | Export commitments for 2017-18 are running 38% ahead of year-ago compared to 38% ahead last week. USDA projects exports in 2017-18 will decline 2.8% from the previous year to 14.5 million bales. |
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Beef |
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| Actual Sales (in MT) |
Combined: 20,000 |
| Weekly Sales Details | Net sales of 16,500 MT reported for 2017 were down 2% from the previous week, but up 3% from the prior 4-week average. Increases were reported for South Korea (8,600 MT, including decreases of 500 MT), Japan (2,200 MT, including decreases of 1,900 MT), Hong Kong (1,400 MT, including decreases of 200 MT), Mexico (1,100 MT, including decreases of 100 MT), and Canada (900 MT, including decreases of 100 MT). For 2018, net sales of 3,500 MT were reported for Taiwan (1,300 MT), Hong Kong (900 MT), South Korea (800 MT), and Japan (500 MT). |
| Weekly Export Details | Exports of 17,700 MT were up 25% from the previous week and 14% from the prior 4-week average. The primary destinations were Japan (5,300 MT), South Korea (4,300 MT), Hong Kong (2,900 MT), Mexico (1,700 MT), and Canada (1,400 MT). |
| Comments and Performance Indicators | Last week, USDA reported export sales totaling 21,500 MT for 2017 and 2018, combined. USDA projects exports in 2017 to be up 10.9% from last year's total. |
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Pork |
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| Actual Sales (in MT) |
Combined: 26,300 |
| Weekly Sales Details | Net sales of 25,800 MT reported for 2017 were up 42% from the previous week and 55% from the prior 4-week average. Increases were reported for Mexico (9,100 MT), Hong Kong (5,700 MT), Japan (4,000 MT), South Korea (3,100 MT), and Canada (1,500 MT). For 2018, net sales of 500 MT were primarily for Chile (200 MT) and Colombia (200 MT). |
| Weekly Export Details | Exports of 23,800 MT were up 4% from the previous week and 11% from the prior 4-week average. The destinations were primarily Mexico (9,200 MT), Japan (4,200 MT), South Korea (2,900 MT), Canada (2,100 MT), and Hong Kong (1,300 MT). |
| Comments and Performance Indicators |
Last week, USDA reported pork export sales totaling 19,300 MT. USDA projects exports in 2017 to be 9.0% above last year's total. |
