Impressive Showing for Corn, Soybeans and Wheat in Export Sales Report

Posted on 03/09/2017 10:23 AM

USDA Weekly Export Sales Report
Week Ended April 14, 2016

Corn
Actual Sales (in MT)

Combined: 1,325,900
2015-16: 1,202,800

2016-17: 123,100

Trade Expectations (MT) 1,000,000-1,400,000
Weekly Sales Details Net sales of 1,202,800 MT for 2015-16 were up 6% from the previous week and 31% from the prior four-week average. Increases were reported for Japan (337,200 MT, including 61,100 MT switched from unknown destinations and decreases of 6,900 MT), Mexico (196,300 MT), Saudi Arabia (115,600 MT, including 45,000 MT switched from unknown destinations), unknown destinations (109,100 MT), Colombia (85,500 MT, including 60,500 MT switched from unknown destinations and decreases of 8,900 MT), and South Korea (65,200 MT). Reductions were reported for the Dominican Republic (21,200 MT). For 2016-17, net sales of 123,100 MT were reported for Mexico (90,000 MT), unknown destinations (35,000 MT), Costa Rica (33,400 MT), Panama (19,000 MT), and El Salvador (2,000 MT). Reductions were reported for Japan (56,300 MT).
Weekly Export Details Exports of 1,283,500 MT--a marketing-year-high--were up 27% from the previous week and 20% from the prior four-week average. The primary destinations were Japan (398,200 MT), Colombia (313,900 MT), Mexico (279,900 MT), Peru (60,700 MT), Guatemala (47,500 MT), and Saudi Arabia (45,600 MT).
Comments and Performance Indicators Sales were near the top end of expectations. Export commitments for 2015-16 are running 12% behind year-ago, compared to 13% 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: 620,700
2015-16: 295,100
2016-17: 325,600

Trade Expectations (MT) 100,000-550,000
Weekly Sales Details Net sales of 295,100 metric tons for delivery in marketing year 2015-16 were up noticeably from the previous week and 57% from the prior four-week average. Increases reported for Japan (98,000 MT), Indonesia (65,000 MT, switched from unknown destinations), the Philippines (56,700 MT, including 59,000 MT switched from unknown destinations and decreases of 3,700 MT), Taiwan (55,000 MT), Chile (50,000 MT), and Italy (37,000 MT, including 35,000 MT switched from unknown destinations and decreases of 1,800 MT), were partially offset by reductions for unknown destinations (158,400 MT), Malaysia (24,500 MT), and Vietnam (3,000 MT). For 2016-17, net sales of 325,600 MT were reported primarily for unknown destinations (179,800 MT), Japan (31,100 MT), the Leeward Windward Islands (27,500 MT), and South Korea (25,500 MT).
Weekly Export Details Exports of 468,100 MT were up 51% from the previous week and 34% from the prior four-week average. The primary destinations were Italy (79,600 MT, including 46,400 MT late reporting), the Philippines (61,000 MT), China (60,900 MT), South Korea (53,600 MT), and Mexico (43,000 MT).
Comments and Performance Indicators Sales were stronger than expected. Export commitments for 2015-16 are running 17% behind year-ago compared to 17% 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: 747,400
2015-16: 407,700
2016-17: 339,700

Trade Expectations (MT) 200,000-700,000
Weekly Sales Details Net sales of 407,700 MT for 2015-16 were up 7% from the previous week and 15% from the prior four-week average. Increases were reported for China (180,900 MT), Germany (73,800 MT, switched from the Netherlands), Mexico (68,800 MT), Indonesia (61,000 MT), Japan (54,600 MT), and the Philippines (10,500 MT). Reductions were reported for unknown destinations (75,800 MT) and India (200 MT). For 2016-17, net sales of 339,700 MT were reported for China (132,000 MT), Mexico (84,000 MT), unknown destinations (66,000 MT), Bangladesh (55,000 MT), Japan (2,300 MT), and Canada (400 MT).
Weekly Export Details Exports of 339,900 MT were up 2% from the previous week, but down 16% from the prior four-week average. The primary destinations were Indonesia (88,600 MT), Germany (73,800 MT), Mexico (58,200 MT), Japan (47,300 MT), Morocco (14,300 MT), Colombia (13,700 MT), and Thailand (12,900 MT).
Comments and Performance Indicators Sales were above expectations. Export commitments for 2015-16 are running 7% behind year-ago, compared to 7% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.705 billion bu., down 7.5% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 137,800
2015-16: 131,600
2016-17: 6,200
Trade Expectations (MT)

100,000-300,000

Weekly Sales Details Net sales of 131,600 MT for 2015-16 were down 33% from the previous week and 42% from the prior four-week average. Increases were reported for Colombia (55,300 MT, including 15,000 MT switched from unknown destinations), Bangladesh (32,900 MT), Mexico (27,200 MT), Panama (13,000 MT), Costa Rica (9,500 MT, including 5,200 MT switched from unknown destinations), Canada (8,300 MT), Jamaica (8,000 MT), and Guatemala (7,200 MT, including 6,600 MT switched from unknown destinations). Reductions were reported for unknown destinations (29,000 MT), the Dominican Republic (8,800 MT), and Morocco (5,000 MT). For 2016-17, net sales of 6,200 MT were reported for Costa Rica (4,900 MT), the Philippines (1,200 MT), and Canada (100 MT).
Weekly Export Details Exports of 217,900 MT were up 7% from the previous week and 24% from the prior four-week average. The primary destinations were Colombia (56,200 MT), Thailand (30,800 MT), the Dominican Republic (30,700 MT), Cuba (24,200 MT), Mexico (19,200 MT), Canada (16,000 MT), and Guatemala (7,200 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 14% behind last year's pace, compared to 14% 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: 10,700

Trade Expectations (MT) 0-20,000
Weekly Sales Details Net sales of 10,700 MT for 2015-16 were up noticeably from the previous week and 15% from the prior four-week average. Increases were reported for Mexico (5,300 MT), the Dominican Republic (1,700 MT), Haiti (1,300 MT), South Korea (1,000 MT), Trinidad (800 MT), and Canada (500 MT).
Weekly Export Details Exports of 17,800 MT were up noticeably from the previous week and 20% from the prior four-week average. The destinations were primarily to South Korea (11,800 MT), Mexico (5,400 MT), and Canada (500 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 13% ahead of year-ago compared to 12% 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: 125,000
2015-16: 104,800
2016-17: 20,200
Weekly Sales Details Net upland sales totaling 104,800 RB for 2015-16 were up 24% from the previous week, but down 10% from the prior four-week average. Increases were reported for China (20,800 RB), Pakistan (19,100 RB), Vietnam (14,000 RB), Brazil (12,000 RB), Indonesia (11,700 RB, including 400 RB switched from Japan), Japan (8,400 RB), Turkey (5,800 RB), and Taiwan (5,700 RB). Reductions of 400 RB were reported for Peru. For 2016-17, net sales of 20,200 RB were reported for Pakistan (15,400 RB), Indonesia (2,600 RB), and Turkey (2,200 RB).
Weekly Export Details Exports of 200,200 RB were up 8% from the previous week, but down 13% from the prior four-week average. The primary destinations were Vietnam (49,300 RB), Turkey (31,300 RB), Mexico (23,900 RB), Indonesia (18,600 RB), China (16,600 RB), South Korea (15,100 RB), and Pakistan (9,700 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 25% behind year-ago compared to 25% 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: 12,500

Weekly Sales Details Net sales of 12,500 MT for 2016 were down 30% from the previous week and 19% from the prior four-week average. Increases were reported for Japan (5,500 MT), Mexico (1,900 MT), Hong Kong (1,600 MT), South Korea (1,600 MT), and Taiwan (900 MT).
Weekly Export Details Exports of 12,000 MT were up 1% from the previous week and 7% from the prior four-week average. The primary destinations were Japan (3,700 MT), South Korea (2,500 MT), Mexico (1,900 MT), Hong Kong (1,300 MT), and Taiwan (1,000 MT).
Comments and Performance Indicators Weekly export sales totaled 17,900 MT the week prior. USDA projects exports in 2016 to be up 8.3% from last year's total.
Pork
Actual Sales (in MT) 2016: 24,400
Weekly Sales Details Net sales of 24,400 MT for 2016 were down 12% from the previous week and 1% from the prior four-week average. Increases were reported for Mexico (11,000 MT), China (6,700 MT), Japan (2,600 MT), Colombia (800 MT), and Canada (700 MT).
Weekly Export Details Exports of 19,900 MT were down 1% from the previous week, but up 11% from the prior four-week average. The primary destinations were Mexico (5,600 MT), China (4,100 MT), Japan (3,100 MT), South Korea (2,700 MT), and Australia (1,200 MT).
Comments and Performance Indicators Last week, export sales totaled 27,900 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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