Weekly Corn Export Sales Top Expectations, Wheat Below

Posted on 03/09/2017 10:22 AM

 

USDA Weekly Export Sales Report
Week Ended July 7, 2016

Corn
Actual Sales (in MT)

Combined: 1,355,600
2015-16: 667,800

2016-17: 687,800

Trade Expectations (MT) 800,000-1,200,000
Weekly Sales Details Net sales of 667,800 MT for 2015/2016 were up 81 percent from the previous week and 2 percent from the prior 4-week average. Increases were reported for Japan (231,400 MT, including 183,200 MT switched from unknown destinations and decreases of 62,800 MT), South Korea (190,000 MT, including 68,000 MT switched from unknown destinations and decreases of 1,500 MT), Peru (162,100 MT, including 85,000 MT switched from unknown destinations and decreases of 800 MT), Mexico (75,400 MT), Morocco (66,300 MT, including 2,000 MT switched from unknown destinations and decreases of 200 MT), Venezuela (63,700 MT), and Egypt (59,400 MT, including 54,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (322,000 MT), the United Arab Emirates (2,000 MT), Costa Rica (1,500 MT), Ireland (500 MT), and Nicaragua (400 MT). For 2016/2017, net sales of 687,800 MT were reported primarily for Mexico (259,500 MT), Japan (198,000 MT), unknown destinations (178,100 MT), and Peru (30,000 MT).
Weekly Export Details Exports of 1,242,600 MT were down 2 percent from the previous week and 9 percent from the prior 4-week average. The primary destinations were Japan (357,900 MT), Mexico (285,300 MT), South Korea (138,900 MT), Peru (88,200 MT), Morocco (64,500 MT), and Egypt (59,400 MT).
Comments and Performance Indicators Sales were above expectations. Export commitments for 2015-16 are running 3% ahead of year-ago, compared to 2% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.900 billion bu., up 1.9% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 317,700

Trade Expectations (MT) 400,000-600,000
Weekly Sales Details Net sales of 317,700 metric tons for 2016/2017 were down 62 percent from the previous week and 53 percent from the prior 4-week average. Increases were reported for Mexico (66,900 MT), unknown destinations (49,200 MT), Chile (45,000 MT), Japan (32,900 MT), Brazil (30,000 MT), Taiwan (21,800 MT), and Trinidad (21,000 MT). Reductions were for Panama (25,000 MT) and Ecuador (300 MT).
Weekly Export Details Exports of 341,300 MT were down 36 percent from the previous week and 32 percent from the prior 4-week average. The primary destinations were China (63,000 MT), Mexico (62,200 MT), Guatemala (30,700 MT), Venezuela (30,000 MT), the United Arab Emirates (26,800 MT), Japan (26,000 MT), and Nigeria (24,200 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2016-17 are running 35% ahead of year-ago versus 36% ahead the week prior. USDA projects exports in 2016-17 at 925 million bu., up 19.0% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 911,200
2015-16: 364,200
2016-17: 547,000

Trade Expectations (MT) 900,000-1,300,000
Weekly Sales Details Net sales of 364,200 MT for 2015/2016 were down 43 percent from the previous week and 49 percent from the prior 4-week average. Increases were reported for China (279,600 MT, including 131,000 MT switched from unknown destinations), the Netherlands (86,100 MT, including 78,500 MT switched from unknown destinations), Malaysia (22,300 MT, including 24,000 MT switched from unknown destinations and decreases of 2,900 MT), Venezuela (12,000 MT), and Mexico (11,200 MT). Reductions were reported for unknown destinations (46,500 MT), Peru (18,800 MT), Japan (12,600 MT), and Indonesia (2,600 MT). For 2016/2017, net sales of 547,000 MT were reported primarily for China (300,000 MT), unknown destinations (169,000 MT), Japan (30,200 MT), Taiwan (21,000 MT), and Thailand (13,000 MT).
Weekly Export Details Exports of 398,700 MT were up noticeably from the previous week and 69 percent from the prior 4-week average. The primary destinations were China (145,500 MT), the Netherlands (86,100 MT), Mexico (38,300 MT), Malaysia (30,800 MT), Tunisia (29,200 MT), and Peru (11,700 MT).
Comments and Performance Indicators Sales were at the low end of expectations. Export commitments for 2015-16 are running 2% ahead of year-ago, compared to 2% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.795 billion bu., down 2.6% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 187,100
2015-16: 136,100
2016-17: 51,000
Trade Expectations (MT)

50,000-300,000

Weekly Sales Details Net sales of 136,100 MT for 2015/2016 were up 76 percent from the previous week and 24 percent from the prior 4-week average. Increases were reported for Mexico (46,100 MT), Venezuela (45,000 MT), Colombia (16,000 MT, including 9,000 MT switched from unknown destinations and decreases of 200 MT), United Arab Emirates (8,900 MT, including 9,000 MT switched from unknown destinations and decreases of 100 MT), Jamaica (8,200 MT), and Honduras (7,600 MT, including 6,400 MT switched from unknown destinations and decreases of 100 MT). Reductions were reported for unknown destinations (16,000 MT), Nicaragua (7,900 MT), and Peru (1,200 MT). For 2016/2017, net sales of 51,000 MT were reported primarily for Honduras (22,000 MT), Jamaica (16,000 MT), and Nicaragua (7,800 MT).
Weekly Export Details Exports of 156,400 MT were down 25 percent from the previous week, but up 2 percent from the prior 4-week average. The primary destinations were the Philippines (45,900 MT), Mexico (40,100 MT), Peru (20,800 MT), Canada (13,800 MT), and Panama (7,200 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 10% behind last year's pace, compared to 11% 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)

Combined: 54,700
2015-16: 48,700
2016-17: 6,000

Trade Expectations (MT) 15,000-60,000
Weekly Sales Details Net sales of 48,700 MT for 2015/2016 were up noticeably from the previous week and 80 percent from the prior 4-week average. Increases were reported for China (35,000 MT), Iran (25,000 MT, switched from unknown destinations), Algeria (15,000 MT, switched from Venezuela), Mexico (8,700 MT), and Jamaica (3,000 MT). For 2016/2017, net sales of 6,000 MT were reported for Mexico (4,000 MT) and the Dominican Republic (2,000 MT).
Weekly Export Details Exports of 32,800 MT were up 21 percent from the previous week and up noticeably from the prior 4-week average. The primary destinations were Iran (25,000 MT), Senegal (4,000 MT), Mexico (3,200 MT), and Canada (500 MT).
Comments and Performance Indicators Sales were at the top end of expectations. Export commitments for the 2015-16 marketing year are running 46% ahead of year-ago compared to 41% 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: 168,900
2015-16: 55,200
2016-17: 113,700
Weekly Sales Details Net upland sales totaling 55,200 RB for 2015/2016 were down 73 percent from the previous week and 55 percent from the prior 4-week average. Increases were reported for Indonesia (16,400 RB, including 400 RB switched from Japan and decreases of 100 RB), India (12,800 RB), Vietnam (10,000 RB, including 5,000 RB switched from Hong Kong), China (5,300 RB), Bangladesh (4,400 RB), and Thailand (3,700 RB, including 200 RB switched from Japan). Reductions were reported for Hong Kong (5,000 RB). For 2016/2017, net sales of 113,700 RB reported primarily for India (29,600 RB), Pakistan (28,400 RB), China (18,800 RB), and Vietnam (7,900 RB), were partially offset by reductions for Peru (1,600 RB), El Salvador (400 RB), Nicaragua (200 RB), and Mexico (200 RB).
Weekly Export Details Exports of 148,700 RB were down 52 percent from the previous week and 29 percent from the prior 4-week average. The primary destinations were Vietnam (70,900 RB), China (14,500 RB), Mexico (10,600 RB), Pakistan (8,700 RB), India (7,900 RB), and Indonesia (6,300 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 18% behind year-ago compared to 18% behind last week. USDA projects exports in 2015-16 at 9.20 million bales, down 18.2% from year-ago.
Beef
Actual Sales (in MT)

2016: 12,800

Weekly Sales Details Net sales of 12,800 MT for 2016 were down 17 percent from the previous week and from the prior 4-week average. Increases were reported for Japan (6,600 MT), Mexico (2,600 MT), Taiwan (1,000 MT), Canada (800 MT), and South Korea (800 MT).
Weekly Export Details Exports of 11,500 MT were down 13 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were Japan (3,900 MT), South Korea (2,700 MT), Mexico (1,500 MT), Canada (1,200 MT), and Hong Kong (900 MT).
Comments and Performance Indicators Weekly export sales totaled 15,400 MT the week prior. USDA projects exports in 2016 to be up 9.0% from last year's total.
Pork
Actual Sales (in MT) 2016: 6,200
Weekly Sales Details Net sales of 6,200 MT for 2016--a marketing-year low--were down 62 percent from the previous week and 61 percent from the prior 4-week average. Increases were reported for Japan (2,800 MT), Mexico (2,200 MT), Canada (1,300 MT), South Korea (900 MT), and Chile (800 MT). Reductions were reported for China (3,000 MT).
Weekly Export Details Exports of 15,500 MT were down 22 percent from the previous week and from the prior 4-week average. The primary destinations were Mexico (5,200 MT), Japan (3,400 MT), China (2,800 MT), South Korea (1,300 MT), and Hong Kong (900 MT).
Comments and Performance Indicators

Last week, export sales totaled 16,200 MT. USDA projects exports in 2016 to be 5.4% above last year's total.

 

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