Soybean, Meal and Soyoil Sales Top Expectations

Posted on 03/09/2017 10:19 AM

USDA Weekly Export Sales Report
Week Ended Jan. 12, 2017

Corn
Actual Sales (in MT)

Combined: 1,379,900
2016-17: 1,367,600
2017-18: 12,300

Trade Expectations (MT) 1,000,000-1,500,000
Weekly Sales Details Net sales of 1,367,600 MT for 2016/2017 were up noticeably from the previous week and 69 percent from the prior 4-week average. Increases were for Japan (363,000 MT, including 135,500 MT switched from unknown destinations and decreases of 2,000 MT), Taiwan (160,200 MT, including 10,700 MT switched from South Korea), Peru (145,000 MT), Mexico (135,800 MT, including decreases of 30,300 MT), and Colombia (112,600 MT, including decreases of 600 MT). For 2017/2018, net sales of 12,300 MT were reported for unknown destinations.
Weekly Export Details Exports of 927,900 MT were up 34 percent from the previous week and 21 percent from the prior 4-week average. The primary destinations were Mexico (190,800 MT), South Korea (186,600 MT), Japan (161,600 MT), Saudi Arabia (86,300 MT), and Colombia (68,500 MT).
Comments and Performance Indicators Sales were near the top end of expectations. Export commitments for 2016-17 are running 69% ahead of year-ago, compared to 72% ahead the previous week. USDA projects exports in 2016-17 at 2.225 billion bu., up 17.2% from the previous marketing year.
Wheat
Actual Sales (in MT)

Combined: 303,000
2016-17: 242,500
2017-18: 60,500

Trade Expectations (MT) 275,000-525,000
Weekly Sales Details Net sales of 242,500 metric tons for delivery in marketing year 2016/2017 were down 38 percent from the previous week and 33 percent from the prior 4-week average. Increases were reported for Mexico (66,400 MT), Japan (50,100 MT, including 10, 000 MT switched from unknown destinations), Nigeria (46,700 MT, including 32,000 MT switched from unknown destinations, 10,000 MT, switched from Singapore, and decreases of 100 MT), Honduras (28,800 MT), and Malaysia (26,000 MT, switched from unknown destinations). Reductions were for unknown destinations (74,000 MT), Singapore (10,000 MT), and LW WWI (400 MT). For 2017/2018, net sales of 60,500 MT were reported for the Philippines (36,000 MT) and Honduras (24,500 MT).
Weekly Export Details Exports of 394,800 MT were up noticeably from the previous week and 6 percent from the prior 4-week average. The primary destinations were Mexico (113,000 MT), Nigeria (88,700 MT), the Philippines (58,200 MT), Taiwan (32,700 MT), and Guatemala (30,600 MT).
Comments and Performance Indicators Sales were near the low end of expectations. Export commitments for 2016-17 are running 32% ahead of year-ago versus 33% ahead the week prior. USDA projects exports in 2016-17 at 975 million bu., up 25.8% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 1,046,300
2016-17: 979,600
2017-18: 66,700

Trade Expectations (MT) 400,000-700,000
Weekly Sales Details Net sales of 979,600 MT for 2016/2017 were up noticeably from the previous week and 22 percent from the prior 4-week average. Increases were reported for China (612,100 MT, including 320,100 MT switched from unknown destinations and decreases of 6,100 MT), Mexico (184,000 MT, including decreases of 600 MT), Indonesia (81,200 MT, including 49,000 MT switched from unknown destinations and decreases of 3,000 MT), Germany (75,300 MT), and Thailand (71,800 MT, including 66,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (290,200 MT). For 2017/2018, net sales of 66,700 MT were reported for unknown destinations (66,000 MT) and Japan (700 MT).
Weekly Export Details Exports of 1,579,200 MT were up 10 percent from the previous week, but down 6 percent from the prior 4-week average. The primary destinations were China (993,700 MT), Indonesia (85,300 MT), Thailand (78,700 MT), Germany (75,300 MT), and Mexico (69,700 MT).
Comments and Performance Indicators Sales topped expectations. Export commitments for 2016-17 are running 23% ahead of year-ago, compared to 24% ahead the previous week. USDA projects exports in 2016-17 at 2.050 billion bu., up 5.9% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 318,600
2016-17: 269,800
2017-18: 48,800
Trade Expectations (MT)

100,000-200,000

Weekly Sales Details Net sales of 269,800 MT for 2016/2017 were up noticeably from the previous week and 82 percent from the prior 4-week average. Increases were reported for unknown destinations (67,300 MT), the Philippines (51,000 MT), Indonesia (46,000 MT), Peru (24,700 MT), and Colombia (17,100 MT, including decreases of 100 MT). For 2017/2018, net sales of 48,800 MT were reported for unknown destinations.
Weekly Export Details Exports of 269,700 MT were up 29 percent from the previous week and 33 percent from the prior 4-week average. The primary destinations were the Philippines (140,600 MT), Mexico (48,500 MT), Colombia (25,600 MT), Canada (22,200 MT), and the United Arab Emirates (10,200 MT).
Comments and Performance Indicators Sales were above expectations. Export commitments for 2016-17 are running 7% behind year-ago compared with 7% behind the week prior. USDA projects exports in 2016-17 to be down 3.0% from the previous marketing year.
Soyoil
Actual Sales (in MT)

2016-17: 41,500

Trade Expectations (MT) 5,000-20,000
Weekly Sales Details Net sales of 41,500 MT for 2016/2017 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Colombia (14,500 MT), the Dominican Republic (6,400 MT), Guatemala (4,700 MT), Mexico (4,600 MT), and Nicaragua (3,500 MT).
Weekly Export Details Exports of 37,600 MT were up noticeably from the previous week and 63 percent from the prior 4-week average. The primary destinations were Morocco (15,000 MT), Mexico (6,800 MT), Colombia (6,300 MT), Guatemala (5,100 MT), and Venezuela (2,000 MT).
Comments and Performance Indicators Sales topped expectations. Export commitments for the 2016-17 marketing year are running 2% behind year-ago, compared to 1% behind last week. USDA projects exports in 2016-17 to be down 4.0% from the previous year.
Cotton
Actual Sales (in RB) Combined: 378,500
2016-17: 346,500
2017-18: 31,700
Weekly Sales Details Net upland sales of 346,500 RB for 2016/2017 were up 47 percent from the previous week and 33 percent from the prior 4-week average. Increases were reported for Vietnam (67,700 RB, including 300 RB switched from Japan), Pakistan (41,600 RB, including decreases of 100 RB), Turkey (39,000 RB), China (38,400 RB, including 4,400 RB switched from Vietnam), and Indonesia (37,300 RB, including 2,800 RB switched from Japan). Reductions were reported for Guatemala (5,300 RB) and Japan (3,600 RB). For 2017/2018, net sales of 31,700 RB were reported for Mexico (26,400 RB) and Guatemala (5,300 RB).
Weekly Export Details Exports of 222,500 RB were up 6 percent from the previous week, but down 5 percent from the prior 4-week average. The primary destinations were China (47,000 RB), Vietnam (33,500 RB), Indonesia (25,100 RB), Pakistan (20,300 RB), and Turkey (18,600 RB).
Comments and Performance Indicators Export commitments for 2016-17 are 65% ahead of year-ago, compared to 65% ahead the previous week. USDA projects exports to be up 36.6% from the previous year at 12 million bales.
Beef
Actual Sales (in MT)

2017: 3,700

Weekly Sales Details Net sales of 3,700 MT were reported for 2017. Increases were reported for Mexico (2,200 MT), Canada (1,600 MT), South Korea (1,300 MT), Hong Kong (800 MT), and Taiwan (600 MT). Reductions were reported for Japan (4,200 MT).
Weekly Export Details Exports of 14,300 MT were reported for 2017. The primary destinations were Japan (4,900 MT), South Korea (3,300 MT), Hong Kong (1,700 MT), Mexico (1,500 MT), and Canada (1,100 MT).
Comments and Performance Indicators Weekly export sales compare to 900 MT the week prior. USDA projects exports in 2017 to be up 4.8% from last year's total.
Pork
Actual Sales (in MT) 2017: 25,400
Weekly Sales Details Net sales of 25,400 MT for 2017 were down 58 percent from the previous week, but up 44 percent from the prior 4-week average. Increase were reported for Mexico (12,100 MT), Japan (5,100 MT), Canada (2,700 MT), South Korea (1,500 MT), and China (1,200 MT). Reductions were reported for Australia (100 MT).
Weekly Export Details Exports of 23,300 MT were reported for 2017. The primary destinations were Mexico (8,300 MT), Japan (4,100 MT), South Korea (3,200 MT), Canada (1,500 MT), and China (1,500 MT).
Comments and Performance Indicators

Export sales compare to 12,700 MT the prior week. USDA projects exports in 2017 to be 4.0% above last year's total.

 

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