Weekly Corn Export Sales Fall Well Short of Expectations

Posted on 03/09/2017 10:24 AM

USDA Weekly Export Sales Report
Week Ended Feb. 4, 2015

Corn
Actual Sales (in MT) Combined: 346,100
2015-16: 405,000
2016-17: -58,900
Trade Expectations (MT) 800,000-1,100,000
Weekly Sales Details Net sales of 405,000 MT for 2015-16 were down 64% from the previous week and 57% from the prior 4-week average. Increases were reported for Japan (113,700 MT, including 40,700 MT switched from unknown destinations), Colombia (71,800 MT, including 61,000 MT switched from unknown destinations and decreases of 45,800 MT), Taiwan (68,600 MT), Mexico (47,100 MT), Peru (42,000 MT, including 30,000 MT switched from unknown destinations), and Panama (26,100 MT, including 20,700 MT switched from unknown destinations). Reductions of 40,600 MT were reported for unknown destinations. For 2016-17, net sales reductions of 58,900 MT were for Japan.
Weekly Export Details Exports of 528,700 MT were down 20% from the previous week and 16% from the prior 4-week average. The primary destinations were Mexico (199,900 MT), Colombia (106,900 MT), Japan (103,300 MT), Peru (33,000 MT), Taiwan (29,600 MT), and Guatemala (22,200 MT).
Comments and Performance Indicators Sales were well below expectations. Export commitments for 2015-16 are running 26% behind year-ago, compared to 25% 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: 299,300
2015-16: 263,300
2016-17: 36,000

Trade Expectations (MT) 150,000-350,000
Weekly Sales Details Net sales of 263,300 metric tons for delivery in marketing year 2015-16 were up noticeably from the previous week and 6% from the prior 4-week average. Increases were reported for Mexico (83,700 MT, including 25,000 MT switched from unknown destinations and decreases of 200 MT), Indonesia (65,000 MT, switched from unknown destinations), Japan (40,400 MT), Guatemala (30,700 MT), Thailand (29,200 MT), the Philippines (27,500 MT, including 25,000 MT switched from unknown destinations), and El Salvador (19,300 MT, including 16,800 MT switched from Guatemala). Reductions were reported for unknown destinations (71,200 MT), the Dominican Republic (5,800 MT), and Yemen (1,400 MT). Net sales of 36,000 MT for 2016-17 were reported for Thailand (25,800 MT), the Dominican Republic (5,900 MT), El Salvador (3,000 MT), and Panama (1,300 MT).
Weekly Export Details Exports of 376,500 MT were up 64% from the previous week and 11% from the prior 4-week average. The primary destinations were Japan (71,100 MT), Mexico (59,800 MT), Taiwan (55,000 MT), Yemen (43,600 MT), Guatemala (30,700 MT), and the Philippines (27,500 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 18% 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: 601,000
2015-16: 666,800
2016-17: -65,800

Trade Expectations (MT) 300,000-600,000
Weekly Sales Details Net sales of 666,800 MT for 2015-16 were up noticeably from the previous week and 1% from the prior 4-week average. Increases were reported for China (686,600 MT, including 184,000 MT switched from unknown destinations and decreases of 65,800 MT), Indonesia (147,900 MT, including 93,000 MT switched from unknown destinations, 2,000 MT switched from India, and decreases of 6,300 MT), Taiwan (74,500 MT, including 60,000 MT switched from unknown destinations and decreases of 1,200 MT), the Netherlands (68,500 MT, including 70,000 MT switched from unknown destinations and decreases of 1,500 MT), Japan (68,300 MT, including 63,200 MT switched from unknown destinations and decreases of 500 MT), and Italy (31,900 MT, including 30,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (467,900 MT), Egypt (2,700 MT), Colombia (2,400 MT), and India (2,000 MT). For 2016-17 net sales reductions of 65,800 MT were reported for Japan.
Weekly Export Details Exports of 1,322,500 MT were down 16% from the previous week, but unchanged from the prior 4-week average. The primary destinations were China (716,900 MT), Indonesia (116,900 MT), Taiwan (91,700 MT), Turkey (71,400 MT), the Netherlands (68,500 MT), Japan (68,300 MT), and Egypt (63,300 MT).
Comments and Performance Indicators Sales were just barely above expectations. Export commitments for 2015-16 are running 11% behind year-ago, compared to 11% 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: 189,400
2015-16: 189,400
2016-17: 0
Trade Expectations (MT) 100,000-250,000
Weekly Sales Details Net sales of 189,400 MT for 2015-16 were up 2% from the previous week and 4% from the prior 4-week average. Increases were reported for the Philippines (70,800 MT), Colombia (43,200 MT, including 29,000 MT switched from unknown destinations and decreases of 1,800 MT), Panama (40,300 MT, including 13,100 MT switched from unknown destinations and decreases of 2,800 MT), Mexico (23,700 MT), Canada (21,400 MT), and Guatemala (10,200 MT, including 7,400 MT switched from unknown destinations). Reductions were reported for unknown destinations (52,300 MT). For 2016-17, net sales were reported as increases for Canada (100 MT) were offset by reductions for the OPAC Islands (100 MT).
Weekly Export Details Exports of 198,900 MT were down 10% from the previous week and 8% from the prior 4-week average. The primary destinations were Thailand (53,500 MT), Colombia (35,700 MT), Mexico (31,400 MT), Cuba (24,200 MT), and Panama (16,300 MT).
Comments and Performance Indicators Sales were as expected. Export commitments for 2015-16 are running 17% behind last year's pace, compared to 18% 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: 3,800

Trade Expectations (MT) 5,000-20,000
Weekly Sales Details Net sales of 3,800 MT for 2015-16 were down 71% from the previous week and 82% from the prior 4-week average. Increases were reported for Mexico (1,300 MT), Guatemala (1,000 MT), the Dominican Republic (1,000 MT), and Canada (300 MT).
Weekly Export Details Exports of 27,400 MT were up 23% from the previous week, but down 11% from the prior 4-week average. The destinations were primarily Egypt (18,500 MT), Mexico (4,300 MT), Jamaica (4,000 MT), and Canada (600 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for the 2015-16 marketing year are running 16% ahead of year-ago compared to 19% 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: 281,400
2015-16: 227,700
2016-17: 53,700
Weekly Sales Details Net upland sales totaling 227,700 RB for 2015-16 were down 10% from the previous week, but up 22% from the prior 4-week average. Increases were reported for Turkey (63,500 RB), Colombia (52,200 RB), Vietnam (46,400 RB), China (22,100 RB), Bangladesh (9,200 RB), and Taiwan (8,000 RB). For 2016-17, net sales of 53,700 RB were reported primarily for Colombia (19,200 RB), Pakistan (17,600 RB), and Turkey (8,800 RB).
Weekly Export Details Exports of 180,500 RB were down 23% from the previous week, but up 19% from the prior 4-week average. The primary destinations were Vietnam (44,000 RB), Turkey (31,900 RB), Indonesia (21,100 RB), Mexico (14,100 RB), and Pakistan (12,000 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 36% behind year-ago compared to 38% 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: 10,600

Weekly Sales Details Net sales of 10,600 MT for 2016 were up 12% from the previous week, but down 8% from the prior 4-week average. Increases were reported for Japan (5,100 MT), South Korea (2,000 MT), Hong Kong (1,200 MT), Canada (800 MT), and Mexico (600 MT).
Weekly Export Details Exports of 11,000 MT were down 11% from the previous week, but up 2% from the prior 4-week average. The primary destinations were Japan (3,800 MT), South Korea (2,200 MT), Hong Kong (1,900 MT), Mexico (1,400 MT), and Canada (900 MT).
Comments and Performance Indicators Weekly export sales totaled 9,500 MT the week prior. USDA projects exports in 2016 to be up 9.2% from last year's total.
Pork
Actual Sales (in MT) 2016: 25,900
Weekly Sales Details Net sales of 25,900 MT for 2016 were up 40% from the previous week and 35% from the prior 4-week average. Increases were reported for China (15,000 MT), Japan (4,200 MT), South Korea (2,100 MT), Mexico (1,500 MT), and Hong Kong (900 MT).
Weekly Export Details Exports of 16,300 MT were down 11% from the previous and 4% from the prior 4-week average. The primary destinations were Mexico (4,200 MT), Japan (3,300 MT), China (2,300 MT), South Korea (1,900 MT), and Canada (1,400 MT).
Comments and Performance Indicators Last week, export sales totaled 18,600 MT. USDA projects exports in 2016 to be 3.7% above last year's total.

 

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