Strong Corn and Soybean Export Sales Continue

Posted on 03/09/2017 10:22 AM

USDA Weekly Export Sales Report
Week Ended May 26, 2016

Corn
Actual Sales (in MT)

Combined: 1,446,800
2015-16: 1,317,900

2016-17: 128,900

Trade Expectations (MT) 1,000,000-1,500,000
Weekly Sales Details Net sales of 1,317,900 MT for 2015-16 were down 5% from the previous week, but up 12% from the prior four-week average. Increases were reported for unknown destinations (448,900 MT), Japan (244,200 MT, including 58,000 MT switched from unknown destinations and decreases of 2,500 MT), Taiwan (189,500 MT, including 120,000 MT switched from unknown destinations), Mexico (160,400 MT, including 27,000 MT switched from unknown destinations and decreases of 10,100 MT), Saudi Arabia (80,000 MT), Costa Rica (35,700, including 19,100 MT switched from unknown destinations and decreases of 100 MT), and Algeria (31,000 MT, including 30,000 MT switched from unknown destinations). Reductions were reported for the French West Indies (2,000 MT) and Honduras (1,000 MT). For 2016-17, net sales of 128,900 MT were reported for Taiwan (65,000 MT), unknown destinations (28,700 MT), Costa Rica (13,700 MT), and Mexico (11,100 MT).
Weekly Export Details Exports of 752,300 MT were down 33% from the previous week and 36% from the prior four-week average. The primary destinations were Japan (282,600 MT), Mexico (259,800 MT), the Dominican Republic (46,400 MT), Algeria (31,000 MT), Venezuela (30,000 MT), Peru (25,700 MT), and Morocco (23,700 MT).

 

Comments and Performance Indicators Sales were near the top end of expectations. Export commitments for 2015-16 are running 1% behind year-ago, compared to 3% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.725 billion bu., down 7.5% from the previous marketing year.
Wheat
Actual Sales (in MT)

Combined: 492,400
2015-16: 107,400
2016-17: 385,000

Trade Expectations (MT) 100,000-5500,000
Weekly Sales Details Net sales of 107,400 metric tons for delivery in marketing year 2015-16 were up noticeably from the previous week, but down 33% from the prior four-week average. Increases reported for Yemen (52,300 MT, including 45,000 MT switched from unknown destinations), Japan (33,700 MT), Costa Rica (12,700 MT, including 13,700 MT switched from unknown destinations and decreases of 900 MT), Italy (12,300 MT), the United Kingdom (9,700 MT, including 10,000 MT switched from unknown destinations and decreases of 300 MT), and Haiti (9,000 MT, switched from the French West Indies), were partially offset by reductions for Nigeria (20,000 MT), unknown destinations (10,200 MT), the French West Indies (9,500 MT), and Colombia (1,300 MT). For 2016-17, net sales of 385,000 MT were reported primarily for unknown destinations (66,300 MT), Nigeria (66,000 MT), Mexico (59,600 MT), Brazil (55,000 MT), and the Philippines (41,000 MT). Reductions were reported for Italy (9,000 MT) and Ecuador (4,500 MT).
Weekly Export Details Exports of 394,100 MT were up 38% from the previous week and 5% from the prior four-week average. The primary destinations were Yemen (102,300 MT), Thailand (58,000 MT), Taiwan (47,700 MT), Mexico (40,800 MT), Japan (34,400 MT), and Brazil (33,000 MT).
Comments and Performance Indicators Sales matched expectations. Export commitments for 2015-16 are running 11% behind year-ago compared to 11% behind last week. USDA projects exports in 2015-16 at 780 million bu., down 8.7% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 1,046,100
2015-16: 309,400
2016-17: 736,700

Trade Expectations (MT) 600,000-1,000,000
Weekly Sales Details Net sales of 309,400 MT for 2015-16 were down 32% from the previous week and 39% from the prior four-week average. Increases were reported for China (123,500 MT), the Netherlands (75,200 MT, including 70,000 MT switched from unknown destinations), Malaysia (33,000 MT), Mexico (25,900 MT), Taiwan (17,500 MT), and Vietnam (12,900 MT). Reductions were reported for unknown destinations (10,000 MT). For 2016-17, net sales of 736,700 MT were reported primarily for unknown destinations (472,000 MT), China (149,000 MT), Spain (60,000 MT), Mexico (28,700 MT), and Taiwan (20,000 MT).
Weekly Export Details Exports of 212,200 MT were up 77% from the previous week, but down 3% from the prior four-week average. The primary destinations were Mexico (79,300 MT), the Netherlands (75,200 MT), Indonesia (33,600 MT), Japan (9,600 MT), Vietnam (4,000 MT), and Taiwan (3,200 MT).
Comments and Performance Indicators Sales were just above expectations. Export commitments for 2015-16 are running 5% behind year-ago, compared to 5% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.740 billion bu., down 5.6% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 315,500
2015-16: 68,600
2016-17: 246,900
Trade Expectations (MT)

150,000-300,000

Weekly Sales Details Net sales of 68,600 MT for 2015-16 were down 60% from the previous week and 46% from the prior four-week average. Increases were reported for the Philippines (48,000 MT), Colombia (25,500 MT), Mexico (19,400 MT), Peru (15,000 MT), Canada (5,000 MT), and Costa Rica (4,300 MT, including 4,700 switched from unknown destinations and decreases of 400 MT). Reductions were reported for unknown destinations (49,700 MT), the Dominican Republic (2,800 MT), El Salvador (2,100 MT), Nicaragua (1,600 MT), and the French West Indies (800 MT). For 2016-17, net sales of 246,900 MT were reported for unknown destinations (160,700 MT), the Philippines (90,000 MT), Mexico (10,800 MT), and Nicaragua (3,000 MT), were partially offset by reductions for Peru (15,000 MT) and Colombia (2,600 MT).
Weekly Export Details Exports of 181,800 MT were down 23% from the previous week and 12% from the prior four-week average. The primary destinations were the Philippines (121,800 MT), Mexico (26,500 MT), Canada (13,100 MT), the Dominican Republic (7,600 MT), Costa Rica (4,300 MT), and Bangladesh (1,700 MT).
Comments and Performance Indicators Sales were above 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)

Combined: 46,300
2015-16: 44,700
2016-17: 1,600

Trade Expectations (MT) 20,000-70,000
Weekly Sales Details Net sales of 44,700 MT for 2015-16 were up 36% from the previous week and 20% from the prior four-week average. Increases were reported for unknown destinations (20,000 MT), Guatemala (8,100 MT), Pakistan (7,500 MT), Senegal (4,000 MT), and Mexico (3,700 MT). For 2016-17, net sales of 1,600 MT were reported for Mexico.
Weekly Export Details Exports of 11,300 MT were down 22% from the previous week, but up 28% from the prior four-week average. The destinations were primarily to Mexico (6,200 MT), Jamaica (3,500 MT), Haiti (800 MT), and Canada (500 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 28% ahead of year-ago compared to 27% 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: 199,200
2015-16: 124,900
2016-17: 74,300
Weekly Sales Details Net upland sales totaling 124,900 RB for 2015-16 were down 3% from the previous week, but up 4% from the prior four-week average. Increases were reported for Vietnam (42,500 RB, including 300 RB switched from Japan), China (21,300 RB), Indonesia (13,100 RB, including 500 RB switched from Japan), Turkey (11,900 RB), and Pakistan (11,200 RB). Reductions were reported for El Salvador (1,700 RB) and Japan (1,000 RB). For 2016-17, net sales of 74,300 RB were reported for South Korea (33,700 RB), Pakistan (18,500 RB), Thailand (10,100 RB), Turkey (6,700 RB), and Vietnam (5,300 RB).
Weekly Export Details Exports of 237,300 RB were unchanged from the previous week, but up 4% from the prior four-week average. The primary destinations were Vietnam (50,000 RB), Turkey (45,200 RB), Mexico (20,100 RB), Pakistan (16,400 RB), and Bangladesh (15,500 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 22% behind year-ago compared to 22% behind last week. USDA projects exports in 2015-16 at 9.00 million bales, down 20% from year-ago.
Beef
Actual Sales (in MT)

2016: 10,000

Weekly Sales Details Net sales of 10,000 MT for 2016 were unchanged from the previous week, but down 32% from the prior four-week average. Increases were reported for South Korea (4,000 MT), Taiwan (1,700 MT), Japan (1,600 MT), Mexico (900 MT), and Canada (700 MT).
Weekly Export Details Exports of 13,100 MT were up 1% from the previous week and from the prior four-week average. The primary destinations were Japan (4,500 MT), South Korea (2,700 MT), Mexico (1,700 MT), Hong Kong (1,400 MT), and Canada (1,200 MT).

 

Comments and Performance Indicators Weekly export sales totaled 10,000 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: 22,000
Weekly Sales Details Net sales of 22,000 MT for 2016 were up 59% from the previous week and 25% from the prior four-week average. Increases were reported for China (7,600 MT), Mexico (4,600 MT), Japan (4,200 MT), Hong Kong (3,300 MT), and South Korea (800 MT).
Weekly Export Details Exports of 21,900 MT were up 6% from the previous week, but down 2% from the prior four-week average. The primary destinations were Mexico (6,400 MT), China (4,500 MT), Japan (4,200 MT), Canada (1,400 MT), and South Korea (1,300 MT).
Comments and Performance Indicators Last week, export sales totaled 13,900 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

"

Add new comment