No Surprises on Weekly Corn, Soybean and Wheat Export Sales

Posted on 03/09/2017 10:24 AM

USDA Weekly Export Sales Report
Week Ended Feb. 25, 2016

Corn
Actual Sales (in MT) 2015-16: 1,097,600
Trade Expectations (MT) 700,000-1,100,000
Weekly Sales Details Net sales of 1,097,600 MT for 2015-16 were up 18% from the previous week and 25% from the prior 4-week average. Increases were reported for Colombia (301,000 MT, including 37,200 MT switched from unknown destinations and decreases of 2,800 MT), Mexico (202,000 MT), Japan (183,800 MT, including 40,200 MT switched from unknown destinations and decreases of 1,500 MT), unknown destinations (111,900 MT), and Peru (81,700 MT, including 35,000 MT switched from unknown destinations and decreases of 8,000 MT). Reductions were reported for Costa Rica (7,500 MT) and Panama (7,200 MT).
Weekly Export Details Exports of 789,800 MT were down 9% from the previous week, but up 13% from the prior 4-week average. The primary destinations were South Korea (206,300 MT), Mexico (182,700 MT), Japan (99,000 MT), Peru (90,500 MT), Guatemala (67,400 MT), and Colombia (60,400 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 22% behind year-ago, compared to 24% 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: 410,600
2015-16: 344,300
2016-17: 66,300

Trade Expectations (MT) 200,000-450,000
Weekly Sales Details Net sales of 344,300 metric tons for delivery in marketing year 2015-16 were down 11% from the previous week, but up 42% from the prior 4-week average. Increases were reported for unknown destinations (105,900 MT), Mexico (45,900 MT), South Korea (39,200 MT), Ecuador (35,600 MT, including 25,500 MT switched from unknown destinations), Italy (30,600 MT), and Venezuela (30,000 MT). Reductions were reported for the Leeward Windward Islands (500 MT) and Nicaragua (200 MT). For 2016-17, net sales of 66,300 MT were reported for the Philippines (30,000 MT), unknown destinations (30,000 MT), Mexico (6,000 MT), and Italy (300 MT).
Weekly Export Details Exports of 388,000 MT were up 69% from the previous week and 32% from the prior 4-week average. The primary destinations were Mexico (77,600 MT), South Korea (59,900 MT), the Philippines (46,700 MT), Taiwan (41,100 MT), Peru (39,700 MT), and Ecuador (29,400 MT).
Comments and Performance Indicators Sales were within expectations. 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: 442,200
2015-16: 440,100
2016-17: 2,100

Trade Expectations (MT) 200,000-600,000
Weekly Sales Details Net sales of 440,100 MT for 2015-16 were up 70% from the previous week and 35% from the prior 4-week average. Increases were reported for China (281,400 MT, including 123,000 MT switched from unknown destinations and decreases of 11,200 MT), Mexico (93,800 MT), Indonesia (85,900 MT, including 68,000 MT switched from unknown destinations and decreases of 6,800 MT), Taiwan (79,100 MT, including 60,000 MT switched from unknown destinations and decreases of 200 MT), the Netherlands (70,000 MT, switched from unknown destinations), and Germany (69,800 MT, previously reported as the Netherlands). Reductions were reported for unknown destinations (297,600 MT). For 2016-17, net sales of 2,100 MT were reported for Japan.
Weekly Export Details Exports of 1,228,100 MT were down 14% from the previous week and 11% from the prior 4-week average. The primary destinations were China (755,600 MT), Indonesia (85,000 MT), Taiwan (81,700 MT), the Netherlands (70,000 MT), Germany (69,800 MT, previously reported as the Netherlands), Mexico (57,900 MT), and Japan (52,700 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: 132,300
2015-16: 132,100
2016-17: 200
Trade Expectations (MT) 100,000-250,000
Weekly Sales Details Net sales of 132,100 MT for 2015-16 were down 23% from the previous week and 20% from the prior 4-week average. Increases were reported for the Philippines (50,900 MT), Mexico (45,200 MT), Colombia (36,900 MT, including 33,000 MT switched from Ecuador and decreases of 600 MT), Guatemala (22,200 MT, including 17,100 MT switched from unknown destinations, and 2,000 MT switched from Nicaragua), the Dominican Republic (15,000 MT, switched from unknown destinations), and Lebanon (8,200 MT, switched from Egypt). Reductions were reported for Ecuador (33,000 MT), unknown destinations (28,000 MT), Egypt (6,400 MT), and Nicaragua (2,000 MT). For 2016-17, net sales of 200 MT were reported for Canada (500 MT).
Weekly Export Details Exports of 261,500 MT were up 19% from the previous week and 23% from the prior 4-week average. The primary destinations were Mexico (54,200 MT), Colombia (47,200 MT), Egypt (38,100 MT), the Philippines (27,300 MT), and Guatemala (24,500 MT).
Comments and Performance Indicators Sales were as expected. Export commitments for 2015-16 are running 17% 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: 900

Trade Expectations (MT) 0-10,000
Weekly Sales Details Net sales of 900 MT for 2015-16 were down 72% from the previous week and 89% from the prior 4-week average. Increases were reported for Mexico (600 MT) and Canada (200 MT).
Weekly Export Details Exports of 4,400 MT were up 12% from the previous week, but down 69% from the prior 4-week average. The destinations were primarily Mexico (3,900 MT) and Canada (300 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 14% 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: 177,500
2015-16: 173,900
2016-17: 3,600
Weekly Sales Details Net upland sales totaling 173,900 RB for 2015-16 were up 57% from the previous week, but down 23% from the prior 4-week average. Increases were reported for Turkey (69,100 RB), Vietnam (29,800 RB), Mexico (14,400 RB), Indonesia (10,600 RB, including 800 RB switched from Japan and decreases of 1,400 RB), China (10,000 RB), and Pakistan (9,600 RB). For 2016-17, net sales of 3,600 RB were reported for El Salvador (4,900 RB) and Taiwan (900 RB). Reductions were reported for South Korea (2,200 RB).
Weekly Export Details Exports of 197,100 RB were up 15% from the previous week and 5% from the prior 4-week average. The primary destinations were Vietnam (50,500 RB), Turkey (34,000 RB), Thailand (17,400 RB), Mexico (16,100 RB), Indonesia (15,200 RB), and South Korea (14,700 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 30% behind year-ago compared to 32% 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: 10,200

Weekly Sales Details Net sales of 10,200 MT for 2016 were down 18% from the previous week, but up 2% from the prior 4-week average. Increases were reported for Japan (5,000 MT), South Korea (1,800 MT), Mexico (1,700 MT), Canada (700 MT), and Taiwan (700 MT). Reductions were reported for Hong Kong (400 MT).
Weekly Export Details Exports of 10,500 MT were up 2% from the previous week, but down 7% from the prior 4-week average. The primary destinations were Japan (3,900 MT), South Korea (2,200 MT), Hong Kong (1,300 MT), Mexico (1,200 MT), and Canada (900 MT).
Comments and Performance Indicators Weekly export sales totaled 12,500 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: 20,000
Weekly Sales Details Net sales of 20,000 MT for 2016 were up 39% from the previous week and 2% from the prior 4-week average. Increases were reported for Mexico (6,000 MT), South Korea (4,500 MT), Japan (3,600 MT), Australia (1,800 MT), and China (800 MT).
Weekly Export Details Exports of 18,300 MT were up 2% from the previous and from the prior 4-week average. The primary destinations were Mexico (4,500 MT), Japan (3,700 MT), South Korea (3,600 MT), China (2,600 MT), and Canada (1,500 MT).
Comments and Performance Indicators Last week, export sales totaled 14,400 MT. USDA projects exports in 2016 to be 3.7% above last year's total.

 

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