Surge in Corn, Soybeans and Wheat Export Sales

Posted on 03/09/2017 10:23 AM

USDA Weekly Export Sales Report
Week Ended April 21, 2016

Corn
Actual Sales (in MT)

Combined: 2,600,600
2015-16: 2,160,600

2016-17: 440,000

Trade Expectations (MT) 1,200,000-1,700,000
Weekly Sales Details Net sales of 2,160,600 MT for 2015-16--a marketing-year high--were up 80% from the previous week and up noticeably from the prior 4-week average. Increases were reported for Japan (567,400 MT, including 99,700 MT switched from unknown destinations and decreases of 8,900 MT), unknown destinations (483,200 MT), Mexico (267,600 MT), Taiwan (226,600 MT), South Korea (196,200 MT), Colombia (161,900 MT, including 107,100 MT switched from unknown destinations and decreases of 8,500 MT), and Algeria (90,000 MT). For 2016-17, net sales of 440,000 MT were reported for unknown destinations (195,300 MT), Japan (160,000 MT), Mexico (51,500 MT), and Guatemala (33,200 MT).
Weekly Export Details Exports of 1,090,600 MT were down 15% from the previous week and 4% from the prior 4-week average. The primary destinations were Colombia (285,400 MT), Mexico (280,600 MT), Japan (235,900 MT), Taiwan (71,300 MT), South Korea (55,000 MT), and Honduras (38,300 MT).
Comments and Performance Indicators Sales were well above expectations. Export commitments for 2015-16 are running 8% behind year-ago, compared to 12% 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: 806,600
2015-16: 351,900
2016-17: 454,700

Trade Expectations (MT) 375,000-625,000
Weekly Sales Details Net sales of 351,900 metric tons for delivery in marketing year 2015-16 were up 19% from the previous week and up noticeably from the prior 4-week average. Increases reported for Mexico (118,800 MT), Taiwan (43,400 MT, including 41,300 MT switched from unknown destinations), Japan (37,200 MT), Colombia (32,900 MT, including 15,600 MT switched from unknown destinations), Canada (27,800 MT, including 27,500 MT switched from unknown destinations), Brazil (21,200 MT), and Vietnam (16,000 MT, including 15,100 MT switched from unknown destinations), were partially offset by reductions for Trinidad (2,800 MT), Honduras (1,300 MT), and Peru (500 MT). For 2016-17, net sales of 454,700 MT were reported primarily for unknown destinations (167,300 MT), the Dominican Republic (120,000 MT), Guatemala (68,700 MT), and South Korea (51,000 MT). Reductions were reported for the Philippines (4,000 MT).
Weekly Export Details Exports of 440,000 MT were down 6% from the previous week, but up 16% from the prior 4-week average. The primary destinations were Japan (90,200 MT), Mexico (59,900 MT), Brazil (44,200 MT), Taiwan (43,400 MT), and the Philippines (42,800 MT).
Comments and Performance Indicators Sales were stronger than expected. Export commitments for 2015-16 are running 14% 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: 946,400
2015-16: 226,000
2016-17: 720,400

Trade Expectations (MT) 700,000-1,100,000
Weekly Sales Details Net sales of 226,000 MT for 2015-16 were down 45% from the previous week and 36% from the prior 4-week average. Increases were reported for Mexico (78,600 MT), Bangladesh (55,000 MT), Indonesia (37,300 MT, including 25,000 MT switched from unknown destinations and decreases of 100 MT), Colombia (21,700 MT, including 11,000 MT switched from unknown destinations), Taiwan (9,500 MT), and Japan (7,200 MT). Reductions were reported for unknown destinations (5,900 MT). For 2016-17, net sales of 720,400 MT were reported for Mexico (375,500 MT), China (180,000 MT), unknown destinations (149,100 MT), and Indonesia (9,000 MT).
Weekly Export Details Exports of 278,700 MT were down 18% from the previous week and 20% from the prior 4-week average. The primary destinations were Japan (78,800 MT), Indonesia (57,800 MT), Mexico (45,700 MT), Tunisia (33,000 MT), Colombia (17,500 MT), and the Philippines (11,600 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 7% behind year-ago, compared to 7% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.705 billion bu., down 7.5% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 273,400
2015-16: 209,600
2016-17: 63,800
Trade Expectations (MT)

170,000-350,000

Weekly Sales Details Net sales of 209,600 MT for 2015-16 were up 59% from the previous week and 49% from the prior 4-week average. Increases were reported for unknown destinations (73,400 MT), Mexico (42,500 MT), Guatemala (15,500 MT), Colombia (15,200 MT), the Philippines (12,300 MT), Canada (11,900 MT), Peru (11,000 MT), and Lebanon (8,800 MT, including 4,900 MT switched from Egypt). Reductions of 600 MT were reported for the French West Indies. For 2016-17, net sales of 63,800 MT were reported for unknown destinations (55,600 MT), Ecuador (8,000 MT), and Canada (200 MT).
Weekly Export Details Exports of 248,400 MT were up 14% from the previous week and 27% from the prior 4-week average. The primary destinations were the Philippines (50,000 MT), Egypt (38,400 MT), Mexico (30,800 MT), Venezuela (30,000 MT), Honduras (14,000 MT), Colombia (12,000 MT), and Peru (11,000 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 13% behind last year's pace, compared to 14% 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: 9,600

Trade Expectations (MT) 0-20,000
Weekly Sales Details Net sales of 9,600 MT for 2015-16 were down 10% from the previous week, but up 65% from the prior 4-week average. Increases were reported for Mexico (4,000 MT), Colombia (2,000 MT), Belgium (1,100 MT), Canada (700 MT), Singapore (400 MT), and South Korea (300 MT).
Weekly Export Details Exports of 15,200 MT were down 14% from the previous week and from the prior 4-week average. The destinations were primarily to Venezuela (10,000 MT), Mexico (4,700 MT), and Canada (500 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 13% 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: 53,400
2015-16: 48,700
2016-17: 4,700
Weekly Sales Details Net upland sales totaling 48,700 RB for 2015-16--a marketing-year-low--were down 54% from the previous week and 60% from the prior 4-week average. Increases were reported for China (11,400 RB), Indonesia (5,800 RB), Vietnam (5,400 RB, including 4,400 RB switched from Hong Kong and 200 RB switched from Japan), Thailand (4,500 RB), Taiwan (4,300 RB), India (3,500 RB), Ecuador (3,400 RB, including 2,900 RB switched from Brazil), and Malaysia (2,900 RB). Reductions of were reported for Hong Kong (4,400 RB) and Brazil (2,900 RB). For 2016-17, net sales of 4,700 RB were reported for Turkey (1,900 RB), Indonesia (1,600 RB), Colombia (800 RB), and Guatemala (400 RB).
Weekly Export Details Exports of 244,300 RB were up 22% from the previous week and 8% from the prior 4-week average. The primary destinations were Vietnam (53,300 RB), China (51,000 RB), Turkey (44,100 RB), Mexico (24,300 RB), Thailand (9,900 RB), Taiwan (9,100 RB), and Pakistan (7,000 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 25% behind year-ago compared to 25% 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: 12,100

Weekly Sales Details Net sales of 12,100 MT for 2016 were down 3% from the previous week and 31% from the prior 4-week average. Increases were reported for Japan (6,700 MT), South Korea (1,300 MT), Mexico (1,300 MT), Canada (1,100 MT), and Taiwan (700 MT).
Weekly Export Details Exports of 11,100 MT were down 7% from the previous week and 1% from the prior 4-week average. The primary destinations were Japan (3,400 MT), South Korea (2,400 MT), Mexico (1,800 MT), Hong Kong (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 8.3% from last year's total.
Pork
Actual Sales (in MT) 2016: 60,900
Weekly Sales Details Net sales of 60,900 MT for 2016--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Mexico (31,500 MT), China (20,400 MT), Japan (3,700 MT), South Korea (2,500 MT), and Canada (1,100 MT). Reductions were reported for Costa Rica (100 MT).
Weekly Export Details Exports of 22,100 MT--a marketing-year high--were up 11% from the previous week and 20% from the prior 4-week average. The primary destinations were Mexico (6,100 MT), China (5,300 MT), Japan (3,800 MT), South Korea (1,700 MT), and Canada (1,500 MT).
Comments and Performance Indicators Last week, export sales totaled 24,400 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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