Another Solid Showing for Grain and Soybean Export Sales

Posted on 03/09/2017 10:18 AM

USDA Weekly Export Sales Report
Week Ended Feb. 2, 2017

Corn
Actual Sales (in MT)

Combined: 1,006,200
2016-17: 971,700
2017-18: 34,500

Trade Expectations (MT) 800,000-1,250,000
Weekly Sales Details Net sales of 971,700 MT for 2016-17 were down 15% from the previous week and 13% from the prior four-week average. Increases were for Japan (401,700 MT, including 145,900 MT switched from unknown destinations and decreases of 2,200 MT), unknown destinations (183,600 MT), Mexico (149,500 MT, including decreases of 900 MT), South Korea (125,300 MT, including 63,000 MT switched from unknown destinations and decreases of 8,000 MT), and Colombia (78,600 MT, including decreases of 1,700 MT). Reductions were reported for Taiwan (66,500 MT), Jamaica (56,100 MT), the Dominican Republic (23,400 MT), Nicaragua (9,500 MT), and Costa Rica (400 MT). For 2017-18, net sales of 34,500 MT were reported for unknown destinations.
Weekly Export Details Exports of 1,124,700 MT were up 47% from the previous week and 34% from the prior four-week average. The primary destinations were Mexico (208,100 MT), Japan (194,500 MT), Colombia (188,300 MT), Taiwan (76,800 MT), and Saudi Arabia (73,700 MT).
Comments and Performance Indicators Sales met expectations. Export commitments for 2016-17 are running 67% ahead of year-ago, compared to 66% ahead the previous week. USDA projects exports in 2016-17 at 2.225 billion bu., up 17.2% from the previous marketing year.
Wheat
Actual Sales (in MT)

Combined: 543,600
2016-17: 527,300
2017-18: 16,300

Trade Expectations (MT) 325,000-600,000
Weekly Sales Details Net sales of 527,300 metric tons for delivery in marketing year 2016-17 were up 17% from the previous week and 9% from the prior four-week average. Increases were reported for Japan (90,600 MT), Mexico (67,300 MT, including decreases of 10,500 MT), the Philippines (64,600 MT, including 60,000 MT switched from unknown destinations and decreases of 800 MT), Chile (60,000 MT), and Morocco (60,000 MT). Reductions were reported for unknown destinations (23,800 MT), Indonesia (1,400 MT), and Burma (200 MT). For 2017-18, net sales of 16,300 MT were reported for Panama.
Weekly Export Details Exports of 606,100 MT were up 87% from the previous week and up noticeably from the prior four-week average. The primary destinations were China (147,200 MT), the Philippines (114,600 MT), Peru ( 73,900 MT), Mexico (52,600 MT), and Indonesia (45,600 MT).
Comments and Performance Indicators Sales came in near the upper end of expectations. Export commitments for 2016-17 are running 38% ahead of year-ago versus 37% ahead the week prior. USDA projects exports in 2016-17 at 975 million bu., up 25.8% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 665,600
2016-17: 536,300
2017-18: 129,300

Trade Expectations (MT) 600,000-1,050,000
Weekly Sales Details Net sales of 536,300 MT for 2016-17 were down 14% from the previous week and from the prior four-week average. Increases were reported for China (259,900 MT, including 215,000 MT switched from unknown destinations and decreases of 18,600 MT), France (132,600 MT, including 130,900 MT switched from unknown destinations), Mexico (105,600 MT, including decreases of 5,000 MT), the Netherlands (75,700 MT, including 66,000 MT switched from unknown destinations), and Bangladesh (57,900 MT, including 55,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (241,900 MT), Pakistan (5,900 MT), Taiwan (800 MT), Cuba (800 MT), and Italy (400 MT). For 2017-18, net sales of 129,300 MT were reported for unknown destinations (129,000 MT) and Japan (300 MT).
Weekly Export Details Exports of 1,641,800 MT were up 8% from the previous week and 13% from the prior four-week average. The primary destinations were China (1,009,600 MT), France (132,600 MT), Taiwan (87,200 MT), the Netherlands (75,700 MT), and Pakistan (67,200 MT).
Comments and Performance Indicators Sales were near the lower end of expectations. Export commitments for 2016-17 are running 24% ahead of year-ago, compared to 25% ahead the previous week. USDA projects exports in 2016-17 at 2.050 billion bu., up 5.9% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 348,700
2016-17: 347,700
2017-18: 1,000
Trade Expectations (MT)

100,000-300,000

Weekly Sales Details Net sales of 347,700 MT for 2016-17 were down 5% from the previous week, but up 35% from the prior four-week average. Increases were reported for Mexico (98,300 MT), the Philippines (97,000 MT, including 45,000 MT switched from unknown destinations), Ecuador (50,000 MT), Colombia (33,000 MT, including 22,700 MT switched from unknown destinations and decreases of 1,300 MT), and Morocco (25,000 MT). Reductions were reported for unknown destinations (70,300 MT) and the Dominican Republic (4,400 MT). For 2017-18, net sales of 1,000 MT were reported for Peru (2,000 MT). Reductions were reported for Canada (1,000 MT).
Weekly Export Details Exports of 314,200 MT--a marketing-year high--were up 77% from the previous week and 45% from the prior four-week average. The primary destinations were the Philippines (73,600 MT), Colombia (54,600 MT), Thailand (52,100 MT), Peru (25,200 MT), and Mexico (22,500 MT).
Comments and Performance Indicators Sales topped expectations. Export commitments for 2016-17 are running steady with year-ago compared with 3% behind the week prior. USDA projects exports in 2016-17 to be down 3.0% from the previous marketing year.
Soyoil
Actual Sales (in MT)

2016-17: 35,300

Trade Expectations (MT) 5,000-20,000
Weekly Sales Details Net sales of 35,300 MT for 2016-17 were up noticeably from the previous week and 28% from the prior four-week average. Increases were reported for Venezuela (10,000 MT), the Dominican Republic (9,800 MT), South Korea (9,000 MT), Mexico (4,800 MT), and Hong Kong (1,500 MT). Reductions were reported for Colombia (200 MT).
Weekly Export Details Exports of 38,700 MT were up noticeably from the previous week and 86% from the prior four-week average. The primary destinations were South Korea (24,000 MT), Venezuela (10,000 MT), Mexico (3,000 MT), Panama (1,000 MT), and Canada (300 MT).
Comments and Performance Indicators Sales were well above expectations. Export commitments for the 2016-17 marketing year are running 14% ahead of year-ago, compared to 9% ahead last week. USDA projects exports in 2016-17 to be down 4.0% from the previous year.
Cotton
Actual Sales (in RB) Combined: 254,100
2016-17: 208,100
2017-18: 46,000
Weekly Sales Details Net upland sales of 208,100 RB for 2016-17 were down 36% from the previous week and 39% from the prior four-week average. Increases were reported for Turkey (45,500 RB, including decreases of 200 RB), Vietnam (42,200 RB, including 400 RB switched from Japan, 200 RB switched from Indonesia and decreases of 200 RB), Indonesia (38,400 RB, including 2,900 RB switched from Japan, 600 RB switched from China, and decreases of 100 RB), Pakistan (15,400 RB), and South Korea (14,100 RB, including decreases of 100 RB). Reductions were reported for Japan (3,400 RB). For 2017-18, net sales of 46,000 RB were reported for South Korea (34,700 RB) and Vietnam (11,400 RB).
Weekly Export Details Exports of 452,100 RB--a marketing-year high--were up 29% from the previous week and 79% from the prior four-week average. The primary destinations were China (97,700 RB), Vietnam (94,700 RB), Turkey (46,300 RB), Indonesia (43,500 RB), and Pakistan (37,500 RB).
Comments and Performance Indicators Export commitments for 2016-17 are 68% ahead of year-ago, compared to 65% ahead the previous week. USDA projects exports to be up 36.6% from the previous year at 12 million bales.
Beef
Actual Sales (in MT)

2017: 15,900

Weekly Sales Details Net sales of 15,900 MT reported for 2017 were down 17% from the previous week. Increases were reported for South Korea (5,600 MT, including decreases of 500 MT), Japan (4,300 MT, including decreases of 1,400 MT), Canada (2,700 MT, including decreases of 100 MT), Mexico (1,400 MT, including decreases of 100 MT), and Hong Kong (600 MT, including decreases of 200 MT).
Weekly Export Details Exports of 13,700 MT reported for 2017 were down 11% from the previous week. The primary destinations were Japan (5,200 MT), South Korea (2,800 MT), Hong Kong (1,300 MT), Mexico (1,300 MT), and Canada (1,200 MT).
Comments and Performance Indicators Weekly export sales compare to 19,100 MT the week prior. USDA projects exports in 2017 to be up 4.8% from last year's total.
Pork
Actual Sales (in MT) 2017: 13,600
Weekly Sales Details Net sales of 13,600 MT reported for 2017 were down 45% from the previous week. Increases were reported for Mexico (2,600 MT), Japan (2,600 MT), South Korea (2,500 MT), Canada (2,200 MT), and Australia (1,400 MT).
Weekly Export Details Exports of 22,100 MT reported for 2017 were up 2% from the previous week. The primary destinations were Mexico (7,700 MT), Japan (3,700 MT), South Korea (2,900 MT), China (2,000 MT), and Canada (1,500 MT).
Comments and Performance Indicators

Export sales compare to 24,800 MT the prior week. USDA projects exports in 2017 to be 4.0% above last year's total.

 

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