Grain Export Sales Surge

Posted on 03/09/2017 10:23 AM

USDA Weekly Export Sales Report
Week Ended May 12, 2016

Corn
Actual Sales (in MT)

Combined: 2,013,800
2015-16: 1,473,100

2016-17: 540,700

Trade Expectations (MT) 1,000,000-1,600,000
Weekly Sales Details Net sales of 1,473,100 MT for 2015-16 were up 33% from the previous week and 13% from the prior four-week average. Increases were reported for Japan (572,600 MT, including 160,200 MT switched from unknown destinations and decreases of 900 MT), Saudi Arabia (265,000 MT, including 55,000 MT switched from unknown destinations), Mexico (136,100 MT, including 30,000 MT switched from unknown destinations and decreases of 34,300 MT), South Korea (132,500 MT, including 65,000 MT switched from unknown destinations), Peru (100,900 MT, including 45,000 MT switched from unknown destinations), and Chile (82,800 MT, including 45,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (26,700 MT), Colombia (800 MT), and New Zealand (500 MT). For 2016-17, net sales of 540,700 MT were reported for unknown destinations (191,000 MT), Mexico (154,000 MT), Guatemala (88,600 MT), Jamaica (88,400 MT), Taiwan (18,000 MT), and Panama (600 MT).
Weekly Export Details Exports of 1,175,100 MT were up 3% from the previous week, but down 1% from the prior four-week average. The primary destinations were Japan (347,400 MT), Mexico (265,800 MT), Taiwan (69,500 MT), South Korea (67,900 MT), Saudi Arabia (55,000 MT), Peru (49,500 MT), Algeria (45,600 MT), and Chile (45,300 MT).
Comments and Performance Indicators Sales were well above expectations. Export commitments for 2015-16 are running 5% behind year-ago, compared to 6% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.725 billion bu., down 7.5% from the previous marketing year.
Wheat
Actual Sales (in MT)

Combined: 748,700
2015-16: 175,200
2016-17: 573,500

Trade Expectations (MT) 200,000-650,000
Weekly Sales Details Net sales of 175,200 metric tons for delivery in marketing year 2015-16 were down 41% from the previous week and 37% from the prior four-week average. Increases reported for China (88,300 MT, including 27,500 MT switched from unknown destinations), Japan (34,400 MT, including 33,300 MT switched from unknown destinations and decreases of 800 MT), Brazil (28,500 MT), Italy (14,700 MT), and the Philippines (10,300 MT, including 10,000 MT switched from unknown destinations), were partially offset by reductions for Nigeria (11,800 MT), Colombia (4,400 MT), and unknown destinations (2,100 MT). For 2016-17, net sales of 573,500 MT were reported primarily for unknown destinations (204,300 MT), Taiwan (72,900 MT), the Philippines (51,000 MT), Yemen (50,000 MT), and South Africa (45,000 MT).
Weekly Export Details Exports of 379,700 MT were down 15% from the previous week and 13% from the prior four-week average. The primary destinations were Japan (102,000 MT), China (88,300 MT), Mexico (74,100 MT), Thailand (51,800 MT), the Dominican Republic (27,100 MT), and Colombia (11,600 MT).
Comments and Performance Indicators Sales were stronger than expectated. Export commitments for 2015-16 are running 11% behind year-ago compared to 12% behind last week. USDA projects exports in 2015-16 at 780 million bu., down 8.7% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 714,700
2015-16: 556,400
2016-17: 158,300

Trade Expectations (MT) 350,000-750,000
Weekly Sales Details Net sales of 556,400 MT for 2015-16 were up noticeably from the previous week and 34% from the prior four-week average. Increases were reported for unknown destinations (334,900 MT), Japan (51,000 MT), Indonesia (41,900 MT, including 25,300 MT switched from unknown destinations and decreases of 500 MT), China (30,000 MT), Mexico (22,100 MT), and Malaysia (15,400 MT). Reductions were reported for Bangladesh (5,000 MT). For 2016-17, net sales of 158,300 MT were reported for unknown destinations (140,000 MT), Taiwan (15,000 MT), and Guatemala (3,300 MT).
Weekly Export Details Exports of 227,600 MT were up 5% from the previous week, but down 20% from the prior four-week average. The primary destinations were Bangladesh (50,000 MT), Mexico (48,600 MT), Indonesia (37,200 MT), Japan (31,300 MT), the Philippines (11,400 MT), and Colombia (10,800 MT).
Comments and Performance Indicators Sales were near the top end of expectations. Export commitments for 2015-16 are running 5% behind year-ago, compared to 6% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.740 billion bu., down 5.6% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 165,100
2015-16: 73,000
2016-17: 92,100
Trade Expectations (MT)

50,000-350,000

Weekly Sales Details Net sales of 73,000 MT for 2015-16 were down 37% from the previous week and 52% from the prior four-week average. Increases were reported for Mexico (37,100 MT), Nicaragua (16,100 MT), Venezuela (15,000 MT, including 20,000 MT switched from unknown destinations and decreases of 5,000 MT), Canada (6,200 MT), Jamaica (6,000 MT), and Bangladesh (4,000 MT). Reductions were reported for Ecuador (17,000 MT), Colombia (2,700 MT), and El Salvador (700 MT). For 2016-17, net sales of 92,100 MT were reported for unknown destinations (42,800 MT), Guatemala (37,300 MT), and Jamaica (12,000 MT).
Weekly Export Details Exports of 177,900 MT were down 13% from the previous week and 18% from the prior four-week average. The primary destinations were Colombia (43,200 MT), Mexico (43,100 MT), Venezuela (35,000 MT), Canada (13,300 MT), Honduras (12,500 MT), Guatemala (9,400 MT), and Panama (7,800 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 12% behind last year's pace, compared to 12% 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: 101,100
2015-16: 89,500
2016-17: 11,600

Trade Expectations (MT) 60,000-130,000
Weekly Sales Details Net sales of 89,500 MT for 2015-16--a marketing-year-high--were up noticeably from the previous week and from the prior four-week average. Increases were reported for unknown destinations (42,000 MT), China (36,000 MT), Venezuela (10,000 MT), Canada (2,100 MT), and the Dominican Republic (1,300 MT). Reductions of 3,600 MT were reported for Mexico. For 2016-17, net sales of 11,600 MT were reported for Mexico.
Weekly Export Details Exports of 13,400 MT were up noticeably from the previous week and 32% from the prior four-week average. The destinations were primarily to the Dominican Republic (9,200 MT), Mexico (3,300 MT), and Canada (700 MT).
Comments and Performance Indicators Sales were within lofty expectations. Export commitments for the 2015-16 marketing year are running 24% ahead of year-ago compared to 13% 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: 239,600
2015-16: 189,400
2016-17: 50,200
Weekly Sales Details Net upland sales totaling 189,400 RB for 2015-16 were up 83% from the previous week and up noticeably from the prior four-week average. Increases were reported for Vietnam (58,700 RB, including 1,700 RB switched from South Korea and 900 RB switched from Japan), Turkey (33,000 RB), China (28,900 RB), Pakistan (24,900 RB), India (13,600 RB), and Indonesia (7,000 RB, including 1,200 RB switched from Japan and decreases of 400 RB). Reductions were reported for South Korea (3,000 RB), Honduras (700 RB), El Salvador (400 RB), and Nicaragua (400 RB). For 2016-17, net sales of 50,200 RB were reported primarily for Turkey (13,200 RB), South Korea (11,100 RB), Guatemala (9,100 RB), and China (8,800 RB).
Weekly Export Details Exports of 232,900 RB were up 36% from the previous week and 4% from the prior four-week average. The primary destinations were Vietnam (49,000 RB), China (45,100 RB), Turkey (36,800 RB), Mexico (18,600 RB), Indonesia (16,200 RB), Thailand (8,900 RB), and South Korea (8,800 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 22% behind year-ago compared to 24% 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: 19,700

Weekly Sales Details Net sales of 19,700 MT for 2016 were up 46% from the previous week and 47% from the prior four-week average. Increases were reported for Japan (8,200 MT), South Korea (4,800 MT), Hong Kong (2,900 MT), Taiwan (1,100 MT), and Mexico (1,100 MT).
Weekly Export Details Exports of 13,500 MT--a marketing-year high--were up 7% from the previous week and 12% from the prior four-week average. The primary destinations were Japan (4,800 MT), South Korea (3,100 MT), Mexico (1,900 MT), Canada (1,600 MT), and Taiwan (700 MT).
Comments and Performance Indicators Weekly export sales totaled 13,400 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: 8,000
Weekly Sales Details Net sales of 8,000 MT for 2016--a marketing-year low--were down 56% from the previous week and 76% from the prior four-week average. Increases were reported for Japan (3,600 MT), Mexico (1,400 MT), Australia (1,100 MT), China (300 MT), and New Zealand (300 MT). Reductions were reported for Costa Rica (100 MT).
Weekly Export Details Exports of 21,800 MT were down 7% from the previous week and 2% from the prior four-week average. The primary destinations were Mexico (7,100 MT), Japan (4,000 MT), China (3,900 MT), South Korea (2,500 MT), and Canada (1,200 MT).
Comments and Performance Indicators Last week, export sales totaled 18,400 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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