Strong Corn Export Sales, Weak Soybean and Wheat Sales

Posted on 03/09/2017 10:24 AM

USDA Weekly Export Sales Report
Week Ended Jan. 28, 2015

Corn
Actual Sales (in MT) Combined: 1,143,500
2015-16: 1,129,100
2016-17: 14,400
Trade Expectations (MT) 800,000-1,000,000
Weekly Sales Details Net sales of 1,129,100 MT for 2015-16 were up 38% from the previous week and 56% from the prior 4-week average. Increases were reported for Mexico (301,400 MT), Colombia (248,300 MT, including 77,500 MT switched from unknown destinations and decreases of 200 MT), Japan (209,300 MT, including 39,600 MT switched from unknown destinations and decreases of 200 MT), South Korea (66,100 MT, including 63,000 MT switched from unknown destinations and decreases of 200 MT), Egypt (64,700 MT, including 60,000 MT switched from unknown destinations), and Peru (63,500 MT). Net sales of 14,400 MT for 2016-17 for Japan (10,200 MT) and Mexico (5,000 MT), were partially offset by reductions for Nicaragua (800 MT).
Weekly Export Details Exports of 660,700 MT were up 2% from the previous week and 19% from the prior 4-week average. The primary destinations were Mexico (195,600 MT), Colombia (155,700 MT), South Korea (67,300 MT), Japan (64,700 MT), Egypt (64,700 MT), Peru (38,500 MT), and Guatemala (26,700 MT).
Comments and Performance Indicators Sales were above expectations. Export commitments for 2015-16 are running 25% behind year-ago, compared to 26% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.700 billion bu., down 8.8% from the previous marketing year.
Wheat
Actual Sales (in MT)

Combined: 154,000
2015-16: 66,200
2016-17: 87,800

Trade Expectations (MT) 200,000-400,000
Weekly Sales Details Net sales of 66,200 metric tons--a marketing-year low--for delivery in marketing year 2015-16 were down 78% from the previous week and 74% from the prior 4-week average. Increases were reported for Yemen (32,000 MT), unknown destinations (16,000 MT), Mexico (14,200 MT), Trinidad (7,500 MT), El Salvador (6,000 MT), Liberia (6,000 MT, switched from Nigeria), and South Korea (4,200 MT). Reductions were reported for the Dominican Republic (12,400 MT), Nigeria (6,000 MT), Honduras (5,200 MT), and the Philippines (1,400 MT). Net sales of 87,800 MT for 2016-17 were reported primarily for the Philippines (50,000 MT), the Dominican Republic (14,100 MT), and Mexico (7,000 MT).
Weekly Export Details Exports of 230,300 MT were down 26% from the previous week and 34% from the prior 4-week average. The primary destinations were South Korea (53,400 MT), the Philippines (36,600 MT), Japan (33,000 MT), the Dominican Republic (27,600 MT), Mexico (24,500 MT), and Honduras (19,600 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2015-16 are running 17% behind year-ago compared to 16% behind last week. USDA projects exports in 2015-16 at 800 million bu., down 6.3% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 22,100
2015-16: -43,600
2016-17: 65,700

Trade Expectations (MT) 400,000-600,000
Weekly Sales Details Net sales reductions of 43,600 MT for 2015-16--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average. Increases were reported for Spain (102,400 MT, including 101,000 MT switched from unknown destinations), the Netherlands (73,300 MT, including 70,000 MT switched from unknown destinations), Japan (57,900 MT, including 9,200 MT switched from unknown destinations and decreases of 200 MT), Mexico (46,200 MT), and Taiwan (34,000 MT, including 2,000 MT switched from Indonesia). Reductions were reported for unknown destinations (374,900 MT), China (55,200 MT), and Tunisia (2,700 MT). Net sales of 65,700 MT for 2016-17 were reported for unknown destinations (65,000 MT) and Japan (700 MT).
Weekly Export Details Exports of 1,141,500 MT were down 14% from the previous week and 23% from the prior 4-week average. The primary destinations were China (811,100 MT), Spain (102,400 MT), the Netherlands (73,300 MT), Japan (39,900 MT), and Mexico (28,700 MT).
Comments and Performance Indicators Sales were well below expectations. Export commitments for 2015-16 are running 11% behind year-ago, compared to 10% 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: 187,500
2015-16: 186,300
2016-17: 1,200
Trade Expectations (MT) 100,000-300,000
Weekly Sales Details Net sales of 186,300 MT for 2015-16 were down 7% from the previous week, but up 26% from the prior 4-week average. Increases were reported for Mexico (92,000 MT), the Philippines (43,200 MT, including 30,000 MT switched from unknown destinations), Jamaica (20,200 MT), Guatemala (10,200 MT, including 9,300 MT switched from unknown destinations), Canada (7,500 MT), and Honduras (7,000 MT, including 5,900 MT switched from unknown destinations). Reductions were reported for unknown destinations (11,500 MT), the Dominican Republic (9,900 MT), and Ecuador (2,500 MT). Net sales of 1,200 MT for 2016-17 were reported for Mexico.
Weekly Export Details Exports of 220,900 MT were up 74% from the previous week and 8% from the prior 4-week average. The primary destinations were the Philippines (84,400 MT), Mexico (39,900 MT), the Dominican Republic (28,500 MT), Colombia (15,500 MT), and Guatemala (10,200 MT).
Comments and Performance Indicators Sales were within expected. Export commitments for 2015-16 are running 18% behind last year's pace, compared to 17% 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: 12,800

Trade Expectations (MT) 5,000-25,000
Weekly Sales Details Net sales of 12,800 MT for 2015-16 were up 40% from the previous week, but down 30% from the prior 4-week average. Increases were reported for South Korea (10,000 MT, including 800 MT switched from unknown destinations), the Dominican Republic (5,200 MT), Mexico (4,400 MT), Guatemala (3,500 MT), and Colombia (2,700 MT). Reductions were reported for Peru (12,600 MT) and unknown destinations (800 MT).
Weekly Export Details Exports of 22,200 MT were up noticeably from the previous week, but down 33% from the prior 4-week average. The destinations were primarily Peru (11,800 MT), Mexico (7,100 MT), Colombia (2,700 MT), and Canada (500 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 19% ahead of year-ago compared to 20% 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: 258,400
2015-16: 251,600
2016-17: 6,800
Weekly Sales Details Net upland sales totaling 251,600 RB for 2015-16 were up 96% from the previous week and 75% from the prior 4-week average. Increases were reported for Turkey (91,700 RB), Vietnam (74,800 RB, including 3,100 RB switched from Hong Kong and 800 RB switched from Japan), Pakistan (18,300 RB), Indonesia (13,900 RB, including 600 RB switched from Japan), China (13,700 RB), and Bangladesh (11,600 RB). Reductions were reported for El Salvador (2,100 RB), Japan (600 RB), and Nicaragua (200 RB). Net sales of 6,800 RB for 2016-17 were reported for Turkey (4,400 RB) and Mexico (2,400 RB).
Weekly Export Details Exports of 233,500 RB--a marketing-year high--were up 49% from the previous week and 75% from the prior 4-week average. The primary destinations were Vietnam (60,600 RB), Turkey (51,700 RB), Mexico (25,900 RB), Indonesia (17,500 RB), and Thailand (15,200 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 38% behind year-ago compared to 38% behind last week. USDA projects exports in 2015-16 at 10.0 million bales, down 11.1% from year-ago.
Beef
Actual Sales (in MT)

2016: 9,500

Weekly Sales Details Net sales of 9,500 MT for 2016 were reported for South Korea (2,500 MT), Japan (2,000 MT), Hong Kong (1,500 MT), Mexico (1,100 MT) and Taiwan (1,000 MT).
Weekly Export Details Exports of 12,400 MT--a marketing-year high--were up 6% from the previous week and 24% from the prior 4-week average. The primary destinations were Japan (3,500 MT), South Korea (2,700 MT), Hong Kong (1,600 MT), Mexico (1,400 MT), and Canada (1,300 MT).
Comments and Performance Indicators Weekly export sales totaled 19,600 MT the week prior. USDA projects exports in 2016 to be up 9.4% from last year's total.
Pork
Actual Sales (in MT) 2016: 18,600
Weekly Sales Details Net sales of 18,600 MT for 2016 were reported for Mexico (6,400 MT), China (4,900 MT), South Korea (2,500 MT), Japan (2,300 MT), and Canada (600 MT).
Weekly Export Details Exports of 18,400 MT--a marketing-year high--were up 2% from the previous and 15% from the prior 4-week average. The primary destinations were Mexico (4,800 MT), Japan (3,400 MT), China (3,000 MT), South Korea (2,100 MT), and Canada (1,400 MT).
Comments and Performance Indicators Last week, export sales totaled 30,400 MT. USDA projects exports in 2016 to be 3.6% above last year's total.

 

"

Add new comment