Corn Export Sales Surge to Nearly 1.3 MMT

Posted on 03/09/2017 10:24 AM

USDA Weekly Export Sales Report
Week Ended Feb. 11, 2015

Corn
Actual Sales (in MT) Combined: 1,297,900
2015-16: 1,050,700
2016-17: 247,200
Trade Expectations (MT) 600,000-1,000,000
Weekly Sales Details Net sales of 1,050,700 MT for 2015-16 were up noticeably from the previous week and 20% from the prior four-week average. Increases were reported for Colombia (285,300 MT, including 27,500 MT switched from unknown destinations and decreases of 900 MT), Mexico (231,000 MT), unknown destinations (154,700 MT), Japan (102,400 MT, including 32,600 MT switched from unknown destinations and decreases of 2,800 MT), Taiwan (68,000 MT), and Peru (65,600 MT). Reductions were reported for Costa Rica (4,100 MT), Guatemala (300 MT), and South Korea (300 MT). For 2016-17, net sales of 247,200 MT were for Japan.
Weekly Export Details Exports of 728,900 MT were up 38% from the previous week and 21% from the prior four-week average. The primary destinations were Mexico (324,500 MT), Japan (199,400 MT), Peru (57,800 MT), Colombia (47,800 MT), Guatemala (25,500 MT), and El Salvador (21,600 MT).
Comments and Performance Indicators Sales were well above expectations. Export commitments for 2015-16 are running 25% behind year-ago, compared to 26% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.650 billion bu., down 11.5% from the previous marketing year.
Wheat
Actual Sales (in MT)

Combined: 307,800
2015-16: 253,600
2016-17: 54,200

Trade Expectations (MT) 200,000-400,000
Weekly Sales Details Net sales of 253,600 metric tons for delivery in marketing year 2015-16 were down 4% from the previous week, but up 3% from the prior four-week average. Increases were reported for Japan (56,600 MT), the Philippines (52,600 MT, including 50,000 MT switched from unknown destinations and decreases of 400 MT), Israel (50,300 MT), Yemen (47,300 MT, including 45,000 MT switched from unknown destinations), Mexico (41,500 MT), Egypt (30,000 MT), and Thailand (24,200 MT). Reductions were reported for unknown destinations (81,800 MT) and China (3,800 MT). For 2016-17, net sales of 54,200 MT were reported for Thailand (29,200 MT) and unknown destinations (25,000 MT).
Weekly Export Details Exports of 339,300 MT were down 10% from the previous week, but up 15% from the prior four-week average. The primary destinations were Indonesia (72,500 MT), the Philippines (52,600 MT), Yemen (47,300 MT), Mexico (45,300 MT), Japan (28,400 MT), and Colombia (23,000 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 17% behind year-ago compared to 18% behind last week. USDA projects exports in 2015-16 at 775 million bu., down 9.3% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 595,700
2015-16: 567,000
2016-17: 28,700

Trade Expectations (MT) 400,000-700,000
Weekly Sales Details Net sales of 567,000 MT for 2015-16 were down 15% from the previous week, but up 4% from the prior four-week average. Increases were reported for China (346,000 MT, including 187,000 MT switched from unknown destinations and decreases of 9,400 MT), Mexico (170,200 MT), the Netherlands (139,100 MT, including 140,000 MT switched from unknown destinations and decreases of 900 MT), Germany (73,300 MT, previously reported as the Netherlands), Taiwan (71,500 MT, including 55,000 MT switched from unknown destinations and decreases of 400 MT), Vietnam (66,200 MT, including 65,000 MT switched from unknown destinations and decreases of 1,300 MT), and Iran (60,600 MT, including 60,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (623,900 MT). For 2016-17, net sales of 28,700 MT were reported for Japan.
Weekly Export Details Exports of 1,780,300 MT were up 35% from the previous week and from the prior four-week average. The primary destinations were China (1,049,600 MT), the Netherlands (139,100 MT), Taiwan (74,500 MT), Germany (73,300 MT, previously reported as the Netherlands), Vietnam (67,500 MT), Japan (61,600 MT), and Iran (60,600 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 11% behind year-ago, compared to 11% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.690 billion bu., down 8.3% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 111,800
2015-16: 111,400
2016-17: 400
Trade Expectations (MT) 100,000-250,000
Weekly Sales Details Net sales of 111,400 MT for 2015-16 were down 41% from the previous week and 48% from the prior four-week average. Increases were reported for Mexico (54,900 MT), Venezuela (45,000 MT, including 30,000 MT switched from Panama), Thailand (30,600 MT, including 28,000 MT switched from unknown destinations), the Philippines (26,000 MT), Morocco (16,500 MT, including 15,000 MT switched from unknown destinations), and Brazil (15,000 MT). Reductions were reported for unknown destinations (45,800 MT), Spain (31,800 MT), Panama (30,000 MT), and Canada (5,900 MT). For 2016-17, net sales of 400 MT were reported for Canada (200 MT) and Mexico (200 MT).
Weekly Export Details Exports of 214,100 MT were up 8% from the previous week and 4% from the prior four-week average. The primary destinations were Mexico (50,300 MT), Thailand (30,600 MT), Venezuela (30,000 MT), Morocco (16,500 MT), Peru (12,800 MT), and Canada (12,600 MT).
Comments and Performance Indicators Sales were as expected. Export commitments for 2015-16 are running 19% behind last year's pace, compared to 17% behind the week prior. USDA projects exports in 2015-16 will be down 14.8% from the previous marketing year.
Soyoil
Actual Sales (in MT)

2015-16: 12,700

Trade Expectations (MT) 4,000-20,000
Weekly Sales Details Net sales of 12,700 MT for 2015-16 were up noticeably from the previous week and 13% from the prior four-week average. Increases were reported for the Dominican Republic (4,800 MT), Mexico (3,100 MT), Colombia (3,000 MT), and Nicaragua (1,500 MT).
Weekly Export Details Exports of 3,500 MT were down 87% from the previous week and 85% from the prior four-week average. The destinations were primarily Mexico (3,200 MT) and Canada (200 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 16% ahead of year-ago compared to 16% ahead the week prior. USDA projects exports in 2015-16 to be up 14.2% from the previous marketing year.
Cotton
Actual Sales (in RB) Combined: 320,900
2015-16: 308,800
2016-17: 12,100
Weekly Sales Details Net upland sales totaling 308,800 RB for 2015-16--a marketing-year high--were up 36% from the previous week and 54% from the prior four-week average. Increases were reported for Vietnam (137,400 RB, including 2,700 RB switched from China), Turkey (71,300 RB), South Korea (18,000 RB, including 5,600 RB switched from Malaysia), Indonesia (14,000 RB), Pakistan (11,300 RB), and Peru (10,600 RB). Reductions were reported for Malaysia (3,500 RB) and El Salvador (1,200 RB). For 2016-17, net sales of 12,100 RB were reported primarily for Thailand (6,600 RB), Ecuador (2,100 RB), Mexico (1,600 RB), and Japan (1,400 RB).
Weekly Export Details Exports of 163,800 RB were down 9% from the previous week and 7% from the prior four-week average. The primary destinations were Vietnam (33,600 RB), Turkey (31,800 RB), Mexico (22,600 RB), South Korea (14,200 RB), and Thailand (11,200 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 32% behind year-ago compared to 36% behind last week. USDA projects exports in 2015-16 at 9.50 million bales, down 15.6% from year-ago.
Beef
Actual Sales (in MT)

2016: 7,600

Weekly Sales Details Net sales of 7,600 MT for 2016--a marketing-year low--were down 28% from the previous week and 37% from the prior four-week average. Increases were reported for Japan (1,900 MT), South Korea (1,500 MT), Mexico (1,400 MT), Hong Kong (1,200 MT), and Canada (500 MT).
Weekly Export Details Exports of 11,500 MT were up 4% from the previous week and 2% from the prior four-week average. The primary destinations were Japan (3,400 MT), South Korea (2,300 MT), Hong Kong (2,200 MT), Mexico (1,500 MT), and Canada (900 MT).
Comments and Performance Indicators Weekly export sales totaled 10,600 MT the week prior. USDA projects exports in 2016 to be up 9.2% from last year's total.
Pork
Actual Sales (in MT) 2016: 19,600
Weekly Sales Details Net sales of 19,600 MT for 2016 were down 24% from the previous week and 13% from the prior four-week average. Increases were reported for Mexico (6,100 MT), South Korea (4,400 MT), Japan (3,100 MT), Canada (1,800 MT), and China (1,400 MT).
Weekly Export Details Exports of 18,900 MT--a marketing-year high--were up 16% from the previous and 8% from the prior four-week average. The primary destinations were Mexico (4,700 MT), Japan (3,800 MT), South Korea (3,000 MT), China (2,800 MT), and Canada (1,200 MT).
Comments and Performance Indicators Last week, export sales totaled 25,900 MT. USDA projects exports in 2016 to be 3.7% above last year's total.

 

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