Corn and Wheat Export Sales Top Expectations; Soybeans Below

Posted on 03/09/2017 10:20 AM

USDA Weekly Export Sales Report
Week Ended Sept. 15, 2016

Corn
Actual Sales (in MT)

2016-17: 921,900

Trade Expectations (MT) 700,000-900,000
Weekly Sales Details Net sales of 921,900 metric tons were reported for 2016/2017. The primary destinations were Mexico (413,800 MT), Peru (134,100 MT, including 89,500 MT switched from unknown destinations and decreases of 200 MT), South Korea (122,900 MT, including 120,000 MT switched from unknown destinations and decreases of 5,100 MT), Venezuela (57,000 MT), Colombia (56,800 MT), and Guatemala (41,500 MT, including 39,600 MT switched from unknown destinations). Reductions were for Chile (3,400 MT), Bangladesh (1,900 MT), and Morocco (1,500 MT).
Weekly Export Details Exports of 1,353,100 MT were reported to Japan (296,300 MT), South Korea (264,700 MT), Mexico (249,700 MT), Peru (125,100 MT), Taiwan (79,900 MT), Chile (61,900 MT), and Bangladesh (59,000 MT).
Comments and Performance Indicators Sales were above expectations. Export commitments for 2016-17 are running 84% ahead of of year-ago, compared to 83% ahead the previous week. USDA projects exports in 2016-17 at 2.175 billion bu., up 13.1% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 561,000

Trade Expectations (MT) 300,000-500,000
Weekly Sales Details Net sales of 561,000 metric tons for delivery in marketing year 2016/2017 were up 40 percent from the previous week and 30 percent from the prior 4-week average. Increases were reported for Mexico (126,100 MT), Peru (99,800 MT, including 70,000 MT switched from unknown destinations), Brazil (81,900 MT, including 62,100 MT switched from unknown destinations and decreases of 1,400 MT), Indonesia (80,000 MT, including 20,000 MT switched from unknown destinations), Japan (64,100 MT), and China (57,800 MT, including 55,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (73,200 MT) and Vietnam (1,000 MT).
Weekly Export Details Exports of 551,600 MT were down 22 percent from the previous week and 12 percent from the prior 4-week average. The primary destinations were Brazil (148,300 MT), Peru (74,800 MT), China (58,300 MT), Thailand (56,600 MT), and Japan (52,500 MT).
Comments and Performance Indicators Sales topped expectations. Export commitments for 2016-17 are running 23% ahead of year-ago versus 21% ahead the week prior. USDA projects exports in 2016-17 at 950 million bu., up 22.6% from the previous marketing year.
Soybeans
Actual Sales (in MT)

2016-17: 875,700

Trade Expectations (MT) 900,000-1,200,000
Weekly Sales Details Net sales of 875,700 MT for 2016/2017 were reported for China (409,900 MT, including 198,000 MT switched from unknown destinations), unknown destinations (198,600 MT), South Korea (106,300 MT, including 53,000 MT switched from unknown destinations and decreases of 1,900 MT), the Netherlands (63,900 MT, including 60,000 MT switched from unknown destinations), and Taiwan (29,500 MT, including 10,800 MT switched from unknown destinations and 1,400 MT switched from Burma, and decreases of 200 MT). Reductions were reported for Burma (3,300 MT), Bangladesh (2,500 MT), and Mexico (1,900 MT).
Weekly Export Details Exports of 790,300 MT were reported to China (398,600 MT), Mexico (95,700 MT), the Netherlands (63,900 MT), Japan (54,500 MT), and Bangladesh (53,500 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2016-17 are running 35% ahead of year-ago, compared to 39% ahead the previous week. USDA projects exports in 2016-17 at 1.985 billion bu., up 2.3% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 157,900
2015-16: 24,500
2016-17: 133,400
Trade Expectations (MT)

60,000-200,000

Weekly Sales Details Net sales of 24,600 MT for 2015/2016 were down 44 percent from the previous week and 46 percent from the prior 4-week average. Increases were reported for Ecuador (30,700 MT), Morocco (16,500 MT, including 18,000 MT switched from Egypt and decreases of 1,500 MT), Guatemala (11,600 MT, including 10,600 MT switched from unknown destinations), the Philippines (5,000 MT), and Canada (2,800 MT). Reductions were reported for Egypt (18,000 MT), El Salvador (12,200 MT), and unknown destinations (10,600 MT). For 2016/2017, net sales of 133,400 MT were reported primarily for unknown destinations (21,600 MT), Mexico (19,500 MT), El Salvador (18,900 MT), and Colombia (18,000 MT).
Weekly Export Details Exports of 199,400 MT were down 3 percent from the previous week, but up 30 percent from the prior 4-week average. The primary destinations were the Philippines (53,300 MT), Ecuador (39,700 MT), Peru (19,800 MT), Mexico (17,500 MT), and Morocco (16,500 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 8% behind last year's pace, compared to 8% behind the week prior. USDA projects exports in 2015-16 will be down 10% from the previous marketing year.
Soyoil
Actual Sales (in MT)

Combined: 2,100
2015-16: -11,500
2016-17: 13,600

Trade Expectations (MT) 5-50,000
Weekly Sales Details Net sales reductions of 11,500 MT for 2015/2016--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average. Increases reported for China (4,000 MT), Mexico (3,100 MT), Canada (900 MT), and Peru (500 MT), were more than offset by decreases for unknown destinations (20,000 MT). For 2016/2017, net sales of 13,600 MT were reported primarily for Venezuela (10,000 MT) and Jamaica (3,500 MT).
Weekly Export Details Exports of 16,300 MT were down 39 percent from the previous week, but up 11 percent from the prior 4-week average. The primary destinations were Peru (7,500 MT), Mexico (4,100 MT), Jamaica (3,500 MT), and Canada (900 MT).
Comments and Performance Indicators Sales were at the low end of expectations. Export commitments for the 2016-17 marketing year are running 29% ahead of year-ago compared to 33% ahead the week prior. USDA projects exports in 2015-16 to be up 19.2% from the previous marketing year.
Cotton
Actual Sales (in RB) Combined: 199,700
2016-17: 197,900
2017-18: 1,800
Weekly Sales Details Net upland sales of 197,900 RB for 2016/2017 were up 45 percent from the previous week, but down 26 percent from the prior 4-week average. Increases reported for Vietnam (67,200 RB, including 300 RB switched from Japan), Indonesia (31,500 RB, including 500 RB switched from Japan and decreases of 2,200 RB), China (23,400 RB, including 300 RB switched from Japan and decreases of 100 RB), Thailand (16,800 RB, including 200 RB switched from Japan), and Mexico (10,000 RB), were partially offset by reductions for El Salvador (400 RB) and Nicaragua (400 RB). For 2017/2018, net sales of 1,800 RB were reported for Mexico.
Weekly Export Details Exports of 157,700 RB were up 26 percent from the previous week, but down 15 percent from the prior 4-week average. The primary destinations were Vietnam (29,600 RB), Indonesia (26,400 RB), Mexico (17,700 RB), Pakistan (13,500 RB), and India (11,400 RB).
Comments and Performance Indicators Export commitments for 2016-17 are 65% above year-ago, compared to 64% above the previous week. USDA projects exports to be up 25% from the previous year at 11.5 million bales.
Beef
Actual Sales (in MT)

2016: 2,300
2017: 4,800

Weekly Sales Details Net sales of 2,300 MT for 2016--a marketing-year low--were down 89 percent from the previous week and 82 percent from the prior 4-week average. Increases reported for Hong Kong (1,700 MT), Mexico (1,700 MT), South Korea (500 MT), Taiwan (500 MT), and Canada (400 MT), were partially offset by reductions for Japan (3,300 MT). For 2017, net sales of 4,800 MT were reported for Japan (4,100 MT) and Hong Kong (700 MT).
Weekly Export Details Exports of 13,800 MT were down 21 percent from the previous week, but up 4 percent from the prior 4-week average. The primary destinations were Japan (3,800 MT), South Korea (3,400 MT), Mexico (2,100 MT), Hong Kong (1,900 MT), and Canada (1,000 MT).
Comments and Performance Indicators Weekly export sales compare to 20,300 MT the week prior. USDA projects exports in 2016 to be up 8.6% from last year's total.
Pork
Actual Sales (in MT) 2016: 14,500
Weekly Sales Details Net sales of 14,600 MT for 2016 were down 30 percent from the previous week and 40 percent from the prior 4-week average. Increases were reported for Mexico (4,200 MT), Japan (2,600 MT), South Korea (2,100 MT), Colombia (1,600 MT), and Canada (1,400 MT).
Weekly Export Details Exports of 17,500 MT were up 4 percent from the previous week, but down 5 percent from the prior 4-week average. The primary destinations were Mexico (6,700 MT), Japan (3,700 MT), Canada (1,900 MT), South Korea (1,200 MT), and China (1,000 MT).
Comments and Performance Indicators

Export sales compare to 20,800 MT the prior week. USDA projects exports in 2016 to be 3.7% above last year's total.

 

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