Another Impressive Week for Wheat Export Sales

Posted on 03/09/2017 10:22 AM

USDA Weekly Export Sales Report
Week Ended June 30, 2016

Corn
Actual Sales (in MT)

Combined: 813,000
2015-16: 369,800

2016-17: 443,200

Trade Expectations (MT) 900,000-1,300,000
Weekly Sales Details Net sales of 369,800 MT for 2015-16 were down 21% from the previous week and 61% from the prior four-week average. Increases were reported for Taiwan (160,300 MT, including 130,000 MT switched from unknown destinations and decreases of 100 MT), Japan (66,700 MT, including 85,500 MT switched from unknown destinations and decreases of 39,100 MT), South Korea (65,000 MT), Peru (39,900 MT), Mexico (36,100 MT), Colombia (22,400 MT), and Tunisia (22,200 MT, including 25,000 MT switched from unknown destinations and decreases of 2,800 MT). Reductions were reported for unknown destinations (65,600 MT), the Dominican Republic (22,400 MT), Morocco (16,900 MT), and Guatemala (1,700 MT). For 2016-17, net sales of 443,200 MT reported primarily for Japan (162,000 MT, including 59,000 MT late reporting), Mexico (139,200 MT), unknown destinations (123,900 MT), and Honduras (27,500 MT), were partially offset by reductions for Jamaica (18,000 MT).
Weekly Export Details Exports of 1,270,500 MT were down 15% from the previous week and 6% from the prior four-week average. The primary destinations were Japan (480,600 MT), Taiwan (217,500 MT), Mexico (173,000 MT), Venezuela (77,400 MT), Saudi Arabia (77,000 MT), and Vietnam (66,800 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2015-16 are running 2% ahead of year-ago, compared to 3% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.825 billion bu., down 2.1% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 825,300

Trade Expectations (MT) 400,000-600,000
Weekly Sales Details Net sales of 825,300 metric tons were reported for delivery in marketing year 2016-17. The primary destinations were unknown destinations (326,200 MT), the Philippines (87,400 MT, including 30,000 MT switched from unknown destinations), Japan (66,300 MT), Peru (57,200 MT), Thailand (52,200 MT, including 30,000 MT switched from unknown destinations), Malaysia (37,500 MT, switched from unknown destinations), and Taiwan (37,400 MT, including 37,100 MT switched from unknown destinations). Reductions were for Italy (1,400 MT) and Barbados (200 MT).
Weekly Export Details Exports of 533,600 MT were reported to the Philippines (128,400 MT), Thailand (58,600 MT), Mexico (48,500 MT), Colombia (46,700 MT), Taiwan (37,400 MT), South Korea (36,500 MT), and Peru (33,500 MT).
Comments and Performance Indicators Sales were much stronger than anticipated. Export commitments for 2016-17 are running 36% ahead of year-ago versus 30% ahead the week prior. USDA projects exports in 2016-17 at 900 million bu., up 16.1% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 1,223,000
2015-16: 637,300
2016-17: 585,700

Trade Expectations (MT) 900,000-1,300,000
Weekly Sales Details Net sales of 637,300 MT for 2015-16 were down 13% from the previous week and 14% from the prior four-week average. Increases were reported for unknown destinations (429,700 MT), Tunisia (93,000 MT, including 30,000 MT switched from unknown destinations), Vietnam (68,700 MT, including 60,000 MT switched from Iran), Mexico (36,200 MT), Thailand (18,100 MT), and Indonesia (16,100 MT). Reductions were reported for Iran (60,000 MT). For 2016-17, net sales of 585,700 MT were reported primarily for unknown destinations (358,500 MT), China (129,000 MT), Taiwan (24,000 MT), and Mexico (23,000 MT).
Weekly Export Details Exports of 194,600 MT were down 42% from the previous week and 11% from the prior four-week average. The primary destinations were Mexico (62,500 MT), Tunisia (33,000 MT), Japan (31,900 MT), Indonesia (16,200 MT), Costa Rica (14,500 MT), and Vietnam (8,500 MT).
Comments and Performance Indicators Sales within expectations. Export commitments for 2015-16 are running 2% ahead of year-ago, compared to steady with year-ago the week prior. USDA projects exports in 2015-16 at 1.760 billion bu., down 4.5% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 83,900
2015-16: 77,400
2016-17: 6,500
Trade Expectations (MT)

100,000-300,000

Weekly Sales Details Net sales of 77,400 MT for 2015-16 were down 33% from the previous week and 24% from the prior four-week average. Increases were reported for unknown destinations (30,200 MT), Peru (15,000 MT), Mexico (10,700 MT), Canada (6,700 MT), the Dominican Republic (5,500 MT), and Guatemala (4,400 MT, including 3,800 MT switched from El Salvador, 800 MT switched from Panama, and decreases of 300 MT). Reductions were reported for El Salvador (4,400 MT), Panama (3,500 MT), the Philippines (2,200 MT), and Portugal (600 MT). For 2016-17, net sales of 6,500 MT were reported for unknown destinations (4,800 MT) and Canada (1,700 MT).
Weekly Export Details Exports of 207,300 MT were up 60% from the previous week and 20% from the prior four-week average. The primary destinations were Mexico (78,600 MT), the Philippines (69,100 MT), Venezuela (25,000 MT), Canada (13,800 MT), and Guatemala (7,300 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2015-16 are running 11% behind last year's pace, compared to 11% behind the week prior. USDA projects exports in 2015-16 will be down 12.5% from the previous marketing year.
Soyoil
Actual Sales (in MT)

Combined: 58,100
2015-16: 18,100
2016-17: 40,000

Trade Expectations (MT) 20,000-65,000
Weekly Sales Details Net sales of 18,100 MT for 2015-16 were down 71% from the previous week and 31% from the prior four-week average. Increases were reported for the Dominican Republic (7,400 MT), Mexico (4,900 MT), Guatemala (3,900 MT), Canada (1,500 MT), and Belgium (100 MT). For 2016-17, net sales of 40,000 MT were reported for China.
Weekly Export Details Exports of 27,200 MT were up noticeably from the previous week and from the prior four-week average. The primary destinations were Venezuela (10,000 MT), Colombia (5,700 MT), Mexico (5,500 MT), the Dominican Republic (4,900 MT), and Canada (900 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 41% ahead of year-ago compared to 39% ahead the week prior. USDA projects exports in 2015-16 to be up 4.3% from the previous marketing year.
Cotton
Actual Sales (in RB) Combined: 330,300
2015-16: 201,900
2016-17: 128,400
Weekly Sales Details Net upland sales totaling 201,900 RB for 2015-16 were up noticeably from the previous week and from the prior four-week average. Increases were reported for Vietnam (102,400 RB, including 600 RB switched from Japan and decreases of 1,000 RB), India (24,200 RB), Pakistan (21,800 RB), China (18,700 RB), Turkey (8,300 RB), and South Korea (8,200 RB). Reductions were reported for Peru (1,600 RB), Thailand (1,100 RB), Japan (1,000 RB), and El Salvador (400 RB). For 2016-17, net sales of 128,400 RB reported primarily for Turkey (33,900 RB), India (29,100 RB), Pakistan (22,600 RB), and China (15,100 RB), were partially offset by reductions for El Salvador (2,100 RB).
Weekly Export Details Exports of 307,100 RB were up 34% from the previous week and 66% from the prior four-week average. The primary destinations were Vietnam (94,000 RB), Turkey (39,500 RB), China (27,400 RB), Pakistan (23,300 RB), and Indonesia (19,900 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 18% behind year-ago compared to 20% behind last week. USDA projects exports in 2015-16 at 9.00 million bales, down 20% from year-ago.
Beef
Actual Sales (in MT)

2016: 15,400

Weekly Sales Details Net sales of 15,400 MT for 2016 were up 6% from the previous week and 5% from the prior four-week average. Increases were reported for South Korea (5,300 MT), Japan (2,300 MT), Mexico (2,000 MT), Taiwan (1,900 MT), and Hong Kong (1,300 MT).
Weekly Export Details Exports of 13,200 MT were down 7% from the previous week and 3% from the prior four-week average. The primary destinations were Japan (5,100 MT), South Korea (3,000 MT), Mexico (1,600 MT), Canada (1,400 MT), and Taiwan (900 MT).
Comments and Performance Indicators Weekly export sales totaled 15,000 MT the week prior. USDA projects exports in 2016 to be up 8.7% from last year's total.
Pork
Actual Sales (in MT) 2016: 16,200
Weekly Sales Details Net sales of 16,200 MT for 2016 were up 22% from the previous week and 2% from the prior four-week average. Increases were reported for Mexico (7,200 MT), Japan (3,600 MT), Canada (2,100 MT), South Korea (900 MT), and Hong Kong (800 MT).
Weekly Export Details Exports of 19,700 MT were unchanged from the previous week, but up 3% from the prior four-week average. The primary destinations were Mexico (6,600 MT), Japan (4,200 MT), China (3,500 MT), Canada (1,700 MT), and South Korea (800 MT).
Comments and Performance Indicators

Last week, export sales totaled 13,300 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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