Weekly Corn and Soybean Export Sales Within Lofty Expectations

Posted on 03/09/2017 10:21 AM

USDA Weekly Export Sales Report
Week Ended Aug. 11, 2016

Corn
Actual Sales (in MT)

Combined: 1,210,100
2015-16: 167,400
2016-17: 1,042,700

Trade Expectations (MT) 1,050,000-1,550,000
Weekly Sales Details Net sales of 167,400 MT for 2015/2016--a marketing-year low--were down 72 percent from the previous week and 61 percent from the prior 4-week average. Increases were reported for Japan (97,700 MT, including 31,000 MT switched from unknown destinations and decreases of 5,700 MT), South Korea (96,100 MT, including 95,000 MT switched from unknown destinations), Peru (88,300 MT, including 70,500 switched from unknown destinations), Canada (32,100 MT), and Morocco (28,100 MT). Reductions were reported for unknown destinations (250,100 MT), the French West Indies (5,600 MT), the Dominican Republic (1,500 MT), and Guatemala (1,300 MT). For 2016/2017, net sales of 1,042,700 MT were reported primarily for Mexico (425,200 MT), unknown destinations (269,300 MT), and Japan (152,400 MT).
Weekly Export Details Exports of 1,166,300 MT were down 19 percent from the previous week and 10 percent from the prior 4-week average. The primary destinations were Japan (306,800 MT), Mexico (194,900 MT), Taiwan (144,500 MT), Peru (143,500 MT), and South Korea (96,400 MT).
Comments and Performance Indicators Sales were within lofty expectations. Export commitments for 2015-16 are running 5% ahead of year-ago, compared to 5% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.925 billion bu., up 3.1% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 489,500

Trade Expectations (MT) 400,000-600,000
Weekly Sales Details Net sales of 489,500 metric tons for 2016/2017 were down 19 percent from the previous week, but up 2 percent from the prior 4-week average. Increases were reported for Brazil (92,100 MT, including 78,000 MT switched from unknown destinations and decreases of 1,000 MT), Taiwan (65,600 MT, including 55,500 MT switched from unknown destinations and decreases of 2,400 MT), Mexico (55,800 MT), the Philippines (52,400 MT), and unknown destinations (37,700 MT). Reductions were reported for the Dominican Republic (2,000 MT), El Salvador (1,500 MT), and Belize (500 MT).
Weekly Export Details Exports of 717,900 MT--a marketing-year high-- were up 77 percent from the previous week and 52 percent from the prior 4-week average. The primary destinations were Brazil (164,600 MT), Japan (127,500 MT), Nigeria (65,800 MT), Mexico (63,300 MT), and Taiwan (53,000 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2016-17 are running 21% ahead of year-ago versus 19% ahead the week prior. USDA projects exports in 2016-17 at 950 million bu., up 22.6% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 1,775,800
2015-16: 177,900
2016-17: 1,597,900

Trade Expectations (MT) 1,600,000-2,100,000
Weekly Sales Details Net sales of 177,900 MT for 2015/2016 were down 26 percent from the previous week and 29 percent from the prior 4-week average. Increases were for China (337,400 MT, including 312,000 MT switched from unknown destinations), the Netherlands (154,000 MT, including 140,000 MT switched from unknown destinations), Germany (66,600 MT), Indonesia (32,900 MT), and Malaysia (25,900 MT, including 24,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (494,700 MT). For 2016/2017, net sales of 1,597,900 MT were reported primarily for unknown destinations (827,000 MT), China (694,200 MT), Taiwan (34,000 MT), and Mexico (10,900 MT).
Weekly Export Details Exports of 865,100 MT were down 14 percent from the previous week, but up 27 percent from the prior 4-week average. The primary destinations were China (404,000 MT), the Netherlands (154,000 MT), Germany (66,600 MT), Malaysia (34,000 MT), and Canada (30,900 MT).
Comments and Performance Indicators Sales were within lofty expectations. Export commitments for 2015-16 are running 4% ahead of year-ago, compared to 4% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.88 billion bu., up 2.1% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 313,200
2015-16: 121,400
2016-17: 191,800
Trade Expectations (MT)

90,000-225,000

Weekly Sales Details Net sales of 121,400 MT for 2015/2016 were up noticeably from the previous week and up 38 percent from the prior 4-week average. Increases were reported for unknown destinations (57,900 MT), Mexico (19,000 MT), Ecuador (9,000 MT), the Dominican Republic (5,800 MT), and Costa Rica (5,000 MT, including 5,200 MT switched from unknown destinations and decreases of 2,000 MT). For 2016/2017, net sales of 191,800 MT were reported for the Philippines (84,500 MT), Mexico (72,100 MT), the Dominican Republic (27,400 MT), Canada (6,300 MT), and Bangladesh (1,500 MT).
Weekly Export Details Exports of 135,700 MT were up 71 percent from the previous week, but down 23 percent from the prior 4-week average. The primary destinations were Mexico (34,200 MT), Thailand (20,000 MT), Peru (16,400 MT), Canada (14,000 MT), and Honduras (10,600 MT).
Comments and Performance Indicators Sales were above expectations. Export commitments for 2015-16 are running 8% behind last year's pace, compared to 9% behind the week prior. USDA projects exports in 2015-16 will be down 10% from the previous marketing year.
Soyoil
Actual Sales (in MT)

2015-16: 3,900

Trade Expectations (MT) 0-35,000
Weekly Sales Details Net sales of 3,900 MT for 2015/2016 were down 66 percent from the previous week and 70 percent from the prior 4-week average. Increases were reported for Mexico (3,300 MT), Canada (500 MT), and Trinidad (100 MT).
Weekly Export Details Exports of 6,000 MT were down 71 percent from the previous week and 77 percent from the prior 4-week average. The primary destinations were Mexico (5,400 MT) and Canada (500 MT).
Comments and Performance Indicators Sales were at the low end of expectations. Export commitments for the 2015-16 marketing year are running 36% ahead of year-ago compared to 36% ahead the week prior. USDA projects exports in 2015-16 to be up 19.1% from the previous marketing year.
Cotton
Actual Sales (in RB) Combined: 218,200
2016-17: 205,000
2017-18: 13,200
Weekly Sales Details Net sales of 205,000 RB for 2016/2017 reported for Vietnam (59,300 RB, including 100 RB switched from Thailand and decreases of 4,000 RB), Malaysia (29,500 RB), Indonesia (27,300 RB), Turkey (21,200 RB), and Pakistan (20,300 RB), were partially offset by reductions for El Salvador (1,300 RB), Japan (600 RB), and Hong Kong (100 RB). For 2017/2018, net sales of 13,200 RB were reported for Malaysia. Exports of 175,800 RB were reported to Pakistan (37,700 RB), Vietnam (33,600 RB), India (23,200 RB), China (19,100 RB), and Mexico (14,000 RB).
Weekly Export Details Exports of 5,900 RB were reported to India (2,500 RB), China (1,900 RB), Pakistan (900 RB), Thailand (300 RB), and Mexico (100 RB).
Comments and Performance Indicators Export commitments for 2016-17 are 41% above year-ago, compared to 36% above the previous week. USDA projects exports to be up 25% from the previous year at 11.5 million bales.
Beef
Actual Sales (in MT)

2016: 14,100

Weekly Sales Details Net sales of 14,100 MT for 2016 were down 39 percent from the previous week and 18 percent from the prior 4-week average. Increases were reported for South Korea (3,600 MT), Japan (3,600 MT), Hong Kong (2,200 MT), Mexico (2,000 MT), and Taiwan (1,200 MT).
Weekly Export Details Exports of 14,700 MT were up 3 percent from the previous week and 1 percent from the prior 4-week average. The primary destinations were South Korea (4,500 MT), Japan (4,200 MT), Mexico (1,800 MT), Hong Kong (1,400 MT), and Taiwan (1,200 MT).
Comments and Performance Indicators Weekly export sales compare to 23,300 MT the week prior. USDA projects exports in 2016 to be up 8.1% from last year's total.
Pork
Actual Sales (in MT) 2016: 15,300
Weekly Sales Details Net sales of 15,300 MT for 2016 were down 12 percent from the previous week, but up 13 percent from the prior 4-week average. Increases were reported for Mexico (4,500 MT), Japan (3,400 MT), South Korea (2,200 MT), Australia (900 MT), and China (900 MT).
Weekly Export Details Exports of 17,900 MT were up 3 percent from the previous week, but down 4 percent from the prior 4-week average. The primary destinations were Mexico (6,800 MT), Japan (4,100 MT), Canada (1,600 MT), China (1,200 MT), and Hong Kong (1,100 MT).
Comments and Performance Indicators

Export sales compare to 17,400 MT the prior week. USDA projects exports in 2016 to be 5.6% above last year's total.

 

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