Impressive Wheat Export Sales

Posted on 03/09/2017 10:22 AM

USDA Weekly Export Sales Report
Week Ended June 23, 2016

Corn
Actual Sales (in MT)

Combined: 1,004,600
2015-16: 468,500

2016-17: 536,100

Trade Expectations (MT) 1,000,000-1,450,000
Weekly Sales Details Net sales of 468,500 MT for 2015/2016 were down 46% from the previous week and 59% from the prior 4-week average. Increases were reported for South Korea (259,800 MT, including 131,000 MT switched from unknown destinations and decreases of 6,000 MT), Japan (140,300 MT, including 156,800 MT switched from unknown destinations and decreases of 54,000 MT), Vietnam (112,000 MT, including 125,000 MT switched from unknown destinations), Taiwan (65,800 MT), Colombia (60,000 MT), Egypt (58,800 MT, including 65,000 MT switched from unknown destinations and decreases of 6,200 MT), and Portugal (54,000 MT, including 50,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (461,800 MT), Algeria (3,700 MT), Guatemala (2,600 MT), and Nicaragua (2,500 MT). For 2016-17, net sales of 536,100 MT were reported for South Korea (138,000 MT), Mexico (135,900 MT), Japan (120,000 MT), Costa Rica (84,200 MT), and unknown destinations (48,500 MT).
Weekly Export Details Exports of 1,497,200 MT were up 24% from the previous week and 29% from the prior 4-week average. The primary destinations were Japan (370,200 MT), Mexico (283,600 MT), Vietnam (176,400 MT), South Korea (125,900 MT), Peru (99,000 MT), and Chile (77,800 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 3% ahead of year-ago, compared to 3% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.825 billion bu., down 2.1% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 645,300

Trade Expectations (MT) 300,000-600,000
Weekly Sales Details Net sales of 645,300 metric tons were reported for delivery in marketing year 2016-17. The primary destinations were South Korea (116,600 MT), Colombia (82,800 MT), Indonesia (68,000 MT), Venezuela (61,100 MT, including 45,000 MT switched from unknown destinations), the Philippines (60,500 MT, including 50,000 MT switched from unknown destinations), Japan (59,200 MT), and Taiwan (55,600 MT, including 54,800 MT switched from unknown destinations). Reductions were for unknown destinations (84,800 MT) and Peru (5,100 MT).
Weekly Export Details Exports of 530,700 MT were reported to the Philippines (98,500 MT), South Africa (87,000 MT), Venezuela (61,100 MT), Taiwan (55,600 MT), Kenya (44,000 MT), Tanzania (42,500 MT), and Mexico (39,700 MT).
Comments and Performance Indicators Sales were stronger than expected. Export commitments for 2016-17 are running 30% ahead of year-ago versus 27% ahead the week prior. USDA projects exports in 2016-17 at 900 million bu., up 16.1% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 1,528,000
2015-16: 730,000
2016-17: 798,000

Trade Expectations (MT) 1,100,000-1,600,000
Weekly Sales Details Net sales of 730,000 MT for 2015/2016 were up 11% from the previous week and 15% from the prior 4-week average. Increases were reported for unknown destinations (462,000 MT), Indonesia (91,000 MT, including 65,000 MT switched from unknown destinations and decreases of 400 MT), Pakistan (60,000 MT), Mexico (46,600 MT), Taiwan (28,400 MT), and Malaysia (17,800 MT). Reductions were reported for China (20,900 MT) and South Korea (500 MT). For 2016-17, net sales of 798,000 MT were reported primarily for China (372,000 MT), unknown destinations (285,000 MT), Turkey (60,000 MT), and Costa Rica (39,000 MT).
Weekly Export Details Exports of 388,100 MT were up 19% from the previous week and 81% from the prior 4-week average. The primary destinations were Mexico (95,300 MT), Indonesia (91,400 MT), China (68,900 MT), Japan (35,500 MT), and the Philippines (10,400 MT).
Comments and Performance Indicators Sales came in near the top end of expectations. Export commitments for 2015-16 are running steady with year-ago, compared to 1% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.760 billion bu., down 4.5% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 159,600
2015-16: 115,500
2016-17: 44,100
Trade Expectations (MT)

100,000-275,000

Weekly Sales Details Net sales of 115,500 MT for 2015/2016 were down 29% from the previous week, but up 28% from the prior 4-week average. Increases were reported for Mexico (35,100 MT), Venezuela (25,000 MT), Peru (20,000 MT), Canada (16,500 MT), Colombia (15,900 MT), and Thailand (5,000 MT). Reductions were reported for the Dominican Republic (9,700 MT) and Nicaragua (1,200 MT). For 2016-17, net sales of 44,100 MT were reported for the Philippines (40,000 MT) and Canada (4,100 MT).
Weekly Export Details Exports of 129,600 MT were down 31% from the previous week and 30% from the prior 4-week average. The primary destinations were Thailand (49,500 MT), Mexico (24,900 MT), the Dominican Republic (17,100 MT), Canada (14,000 MT), and El Salvador (7,300 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 11% behind last year's pace, compared to 11% 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)

2015-16: 62,400

Trade Expectations (MT) 40,000-70,000
Weekly Sales Details Net sales of 62,400 MT for 2015/2016 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for China (40,000 MT), Venezuela (15,000 MT), Mexico (6,100 MT), Colombia (700 MT), and Canada (500 MT).
Weekly Export Details Exports of 5,900 MT were down 41% from the previous week and 54% from the prior 4-week average. The primary destinations were Mexico (5,200 MT) and Canada (600 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 39% ahead of year-ago compared to 31% 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: 197,000
2015-16: 58,700
2016-17: 138,300
Weekly Sales Details Net upland sales totaling 58,700 RB for 2015/2016 were down 66% from the previous week and 50% from the prior 4-week average. Increases were reported for Indonesia (19,300 RB, including 500 RB switched from Japan and decreases of 200 RB), India (14,700 RB), Vietnam (11,200 RB), Turkey (8,700 RB), Taiwan (5,400 RB), and Brazil (2,700 RB, switched from Ecuador). Reductions were reported for El Salvador (4,800 RB), Ecuador (2,700 RB), and Pakistan (1,600 RB). For 2016-17, net sales of 138,300 RB reported primarily for Vietnam (50,600 RB), Mexico (23,000 RB), Colombia (22,700 RB), and Indonesia (13,400 RB), were partially offset by reductions for Japan (200 RB).
Weekly Export Details Exports of 229,700 RB were up 39% from the previous week and 23% from the prior 4-week average. The primary destinations were Vietnam (47,200 RB), Turkey (36,500 RB), Indonesia (33,700 RB), Mexico (24,700 RB), and China (17,400 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 20% behind year-ago compared to 20% behind last week. USDA projects exports in 2015-16 at 9.00 million bales, down 20% from year-ago.
Beef
Actual Sales (in MT)

Combined: 15,000
2016: 14,600

2017: 400

Weekly Sales Details Net sales of 14,600 MT for 2016 were down 10% from the previous week, but up 8% from the prior 4-week average. Increases were reported for South Korea (5,300 MT), Hong Kong (2,300 MT), Japan (2,100 MT), Mexico (1,700 MT), and Canada (1,600 MT). For 2017, net sales of 400 MT were reported for Canada.
Weekly Export Details Exports of 14,300 MT were down 4% from the previous week, but up 7% from the prior 4-week average. The primary destinations were Japan (4,600 MT), South Korea (3,600 MT), Canada (1,500 MT), Hong Kong (1,300 MT), and Mexico (1,300 MT).
Comments and Performance Indicators Weekly export sales totaled 16,200 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: 13,300
Weekly Sales Details Net sales of 13,300 MT for 2016 were down 34% from the previous week and 26% from the prior 4-week average. Increases were reported for Mexico (4,500 MT), Japan (2,300 MT), Canada (2,300 MT), Hong Kong (2,000 MT), and Colombia (900 MT).
Weekly Export Details Exports of 19,700 MT were up 3% from the previous week, but unchanged from the prior 4-week average. The primary destinations were Mexico (6,700 MT), Japan (4,100 MT), China (3,100 MT), Canada (1,300 MT), and South Korea (1,200 MT).
Comments and Performance Indicators

Last week, export sales totaled 20,100 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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