Net Sales Reductions for Old-Crop Soybeans

Posted on 03/09/2017 10:21 AM

USDA Weekly Export Sales Report
Week Ended July 21, 2016

Corn
Actual Sales (in MT)

Combined: 915,300
2015-16: 438,800

2016-17: 476,500

Trade Expectations (MT) 750,000-1,150,000
Weekly Sales Details Net sales of 438,800 MT for 2015/2016 were up 27 percent from the previous week, but down 5 percent from the prior 4-week average. Increases were reported for Japan (96,200 MT, including 86,700 MT switched from unknown destinations and decreases of 400 MT), South Korea (75,900 MT), Mexico (73,300 MT), Algeria (61,500 MT, including 15,000 MT switched from unknown destinations), Saudi Arabia (52,000 MT, including 45,000 MT switched unknown destinations), and Bangladesh (49,900 MT). Reductions were reported for unknown destinations (210,500 MT), the Dominican Republic (23,400 MT), Spain (20,000 MT), and Israel (2,700 MT). For 2016/2017, net sales of 476,500 MT were reported primarily for unknown destinations (181,800 MT), Peru (140,000 MT), and Mexico (67,900 MT).
Weekly Export Details Exports of 1,379,800 MT were up 11 percent from the previous week and 5 percent from the prior 4-week average. The primary destinations were Mexico (272,600 MT), South Korea (272,200 MT), Japan (231,000 MT), Saudi Arabia (122,000 MT), Colombia (76,200 MT), and Taiwan (72,100 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 1.900 billion bu., up 1.9% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 506,100

Trade Expectations (MT) 400,000-600,000
Weekly Sales Details Net sales of 506,100 metric tons for 2016/2017 were up 6 percent from the previous week, but down 11 percent from the prior 4-week average. Increases were reported for Japan (158,200 MT, including 53,900 MT switched from unknown destinations), Mexico (76,000 MT), South Korea (48,800 MT), Chile (43,000 MT, including 30,000 MT switched from unknown destinations and decreases of 2,200 MT), Brazil (39,900 MT, including 28,500 MT switched from unknown destinations), and Honduras (31,400 MT). Reductions were reported for unknown destinations (44,500 MT).
Weekly Export Details Exports of 549,900 MT were up 53 percent from the previous week and 25 percent from the prior 4-week average. The primary destinations were Japan (178,200 MT), Chile (92,200 MT), Brazil 59,900 MT), Taiwan (56,800 MT), Peru (49,500 MT), Thailand (27,000 MT), and Mexico (25,700 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2016-17 are running 27% ahead of year-ago versus 32% ahead the week prior. USDA projects exports in 2016-17 at 925 million bu., up 19.0% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 676,800
2015-16: -1,400
2016-17: 678,200

Trade Expectations (MT) 850,000-1,250,000
Weekly Sales Details Net sales reductions of 1,400 MT for 2015/2016 were down noticeably from the previous week and from the prior 4-week average. Increases were reported for China (226,300 MT, including 198,000 MT switched from unknown destinations), the Netherlands (77,000 MT, including 70,000 MT switched from unknown destinations), Vietnam (70,600 MT, including 65,000 MT switched from unknown destinations and decreases of 900 MT), Tunisia (30,000 MT), and Indonesia (20,500 MT, including 13,300 MT switched from unknown destinations and decreases of 200 MT). Reductions were reported for unknown destinations (475,600 MT), Mexico (700 MT), and Hong Kong (100 MT). For 2016/2017, net sales of 678,200 MT were reported primarily for unknown destinations (564,500 MT), China (60,000 MT), Mexico (21,800 MT), Taiwan (18,800 MT), and Colombia (4,400 MT).
Weekly Export Details Exports of 698,500 MT were up 77 percent from the previous week and up noticeably from the prior 4-week average. The primary destinations were China (411,900 MT), the Netherlands (77,000 MT), Vietnam (68,900 MT), Mexico (53,100 MT), and Japan (27,800 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2015-16 are running 2% ahead of year-ago, compared to 3% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.795 billion bu., down 2.6% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 154,300
2015-16: 79,200
2016-17: 75,100
Trade Expectations (MT)

75,000-300,000

Weekly Sales Details Net sales of 79,200 MT for 2015/2016 were down 47 percent from the previous week and 34 percent from the prior 4-week average. Increases were reported for the Dominican Republic (25,600 MT), Bangladesh (12,100 MT), Colombia (12,100 MT, including 9,000 MT switched unknown destinations), Libya (11,400 MT, including 11,000 MT switched from unknown destinations), Algeria (11,000 MT, including 10,000 MT switched from unknown destinations), and Peru (10,000 MT). Reductions were reported for unknown destinations (48,900 MT), Jamaica (2,000 MT), and Honduras (500 MT). For 2016/2017, net sales of 75,100 MT were reported primarily for Mexico (60,400 MT), the Dominican Republic (9,200 MT), and unknown destinations (4,300 MT).
Weekly Export Details Exports of 229,200 MT were up 23 percent from the previous week and 35 percent from the prior 4-week average. The primary destinations were the Philippines (60,000 MT), Mexico (37,400 MT), Colombia (18,300 MT), Canada (16,000 MT), Honduras (13,600 MT), Guatemala (13,300 MT), and Libya (11,400 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 9% behind last year's pace, compared to 9% behind the week prior. USDA projects exports in 2015-16 will be down 11.0% from the previous marketing year.
Soyoil
Actual Sales (in MT)

2015-16: 6,500

Trade Expectations (MT) 5,000-45,000
Weekly Sales Details Net sales of 6,500 MT for 2015/2016 were down 62 percent from the previous week and 82 percent from the prior 4-week average. Increases were reported for Mexico (5,700 MT), Canada (500 MT), and Colombia (200 MT).
Weekly Export Details Exports of 12,800 MT were down 56 percent from the previous week and 46 percent from the prior 4-week average. The primary destinations were Mexico (7,700 MT), Colombia (4,200 MT), and Canada (700 MT).
Comments and Performance Indicators Sales were at the low end of expectations. Export commitments for the 2015-16 marketing year are running 33% ahead of year-ago compared to 45% 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: 234,700
2015-16: 44,600
2016-17: 190,100
Weekly Sales Details Net upland sales totaling 44,600 RB for 2015/2016--a marketing-year low--were down 38 percent from the previous week and 54 percent from the prior 4-week average. Increases were reported for Vietnam (28,800 RB, including 500 RB switched from Japan and decreases of 300 RB), China (13,100 RB, including 4,300 MT switched from Hong Kong and 700 RB switched from South Korea), Indonesia (7,900 RB, including 600 RB switched from Japan), Thailand (6,000 RB, including 1,100 RB switched from Indonesia), Guatemala (2,300 RB, switched from El Salvador), and India (1,500 RB). Reductions were reported for South Korea (9,000 RB), Hong Kong (4,300 RB), El Salvador (2,300 RB), and Japan (1,600 RB). For 2016/2017, net sales of 190,100 RB reported primarily for China (50,100 RB), Indonesia (41,000 RB), Pakistan (32,900 RB), and Vietnam (24,100 RB), were partially offset by reductions for Japan (4,600 RB), Taiwan (1,300 RB), and Colombia (300 RB).
Weekly Export Details Exports of 181,500 RB were down 2 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were Vietnam (42,900 RB), Indonesia (26,600 RB), Mexico (19,500 RB), Turkey (18,200 RB), China (17,300 RB), and South Korea (8,700 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 18% behind year-ago compared to 18% behind last week. USDA projects exports in 2015-16 at 9.20 million bales, down 18.2% from year-ago.
Beef
Actual Sales (in MT)

2016: 20,700

Weekly Sales Details Net sales of 20,700 MT for 2016 were up 44 percent from the previous week and 45 percent from the prior 4-week average. Increases were reported for Japan (6,000 MT), South Korea (5,600 MT), Mexico (3,300 MT), Hong Kong (2,500 MT), and Canada (1,400 MT).
Weekly Export Details Exports of 14,400 MT were down 2 percent from the previous week, but up 7 percent from the prior 4-week average. The primary destinations were Japan (5,200 MT), South Korea (3,600 MT), Mexico (1,900 MT), Canada (1,300 MT), and Hong Kong (800 MT).
Comments and Performance Indicators Weekly export sales totaled 14,400 MT the week prior. USDA projects exports in 2016 to be up 9.0% from last year's total.
Pork
Actual Sales (in MT) 2016: 10,700
Weekly Sales Details Net sales of 10,700 MT for 2016 were down 5 percent from the previous week and 9 percent from the prior 4-week average. Increases were reported for Mexico (7,600 MT), Japan (3,300 MT), Hong Kong (1,200 MT), Canada (1,100 MT), and Chile (300 MT). Reductions were reported for China (3,200 MT).
Weekly Export Details Exports of 18,600 MT were down 8 percent from the previous week and 1 percent from the prior 4-week average. The primary destinations were Mexico (6,300 MT), Japan (4,300 MT), China (2,400 MT), South Korea (1,500 MT), and Canada (1,300 MT).
Comments and Performance Indicators

Last week, export sales totaled 11,300 MT. USDA projects exports in 2016 to be 5.4% above last year's total.

 

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