Weekly Export Sales Largely as Expected

Posted on 03/09/2017 10:23 AM

USDA Weekly Export Sales Report
Week Ended April 7, 2016

Corn
Actual Sales (in MT)

Combined: 1,247,200
2015-16: 1,135,800

2016-17: 111,400

Trade Expectations (MT) 950,000-1,300,000
Weekly Sales Details Net sales of 1,135,800 MT for 2015-16 were up 20% from the previous week and 21% from the prior 4-week average. Increases were reported for Japan (396,700 MT, including 57,500 MT switched from South Korea, 55,000 MT switched from unknown destinations, and decreases of 2,800 MT), South Korea (240,800 MT, including 54,500 MT switched from unknown destinations and decreases of 7,200 MT), Mexico (161,500 MT, including 30,000 MT switched from unknown destinations and decreases of 14,800 MT), unknown destinations (136,400 MT), and Colombia (53,000 MT). For 2016-17, net sales of 111,400 MT were reported for Japan (55,600 MT), Mexico (50,500 MT), El Salvador (4,500 MT), and Nicaragua (800 MT).
Weekly Export Details Exports of 1,008,400 MT were down 11% from the previous week and 3% from the prior 4-week average. The primary destinations were Mexico (357,400 MT), Japan (214,400 MT), South Korea (168,900 MT), Taiwan (144,200 MT), and Colombia (69,400 MT).
Comments and Performance Indicators Sales matched expectations. Export commitments for 2015-16 are running 13% behind year-ago, compared to 14% 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: 336,200
2015-16: 124,700
2016-17: 211,500

Trade Expectations (MT) 100,000-700,000
Weekly Sales Details Net sales of 124,700 metric tons for delivery in marketing year 2015-16 were up noticeably from the previous week, but down 41% from the prior 4-week average. Increases reported for the Philippines (66,000 MT, including 60,000 MT switched from unknown destinations), Mexico (39,400 MT), Brazil (23,000 MT), Algeria (20,500 MT), the Dominican Republic (8,800 MT), and Indonesia (6,400 MT), were partially offset by reductions for unknown destinations (58,600 MT). For 2016-17, net sales of 211,500 MT were reported primarily for unknown destinations (67,000 MT), the Philippines (65,000 MT), Thailand (55,000 MT), and Honduras (19,000 MT).
Weekly Export Details Exports of 309,200 MT were down 21% from the previous week and 18% from the prior 4-week average. The primary destinations were Indonesia (86,100 MT), the Philippines (66,000 MT), Mexico (57,600 MT), Malaysia (26,600 MT), and South Korea (26,300 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 17% 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: 466,500
2015-16: 455,900
2016-17: 10,600

Trade Expectations (MT) 125,000-500,000
Weekly Sales Details Net sales of 455,900 MT for 2015-16 were up 8% from the previous week and 10% from the prior 4-week average. Increases were reported for Mexico (146,300 MT), Indonesia (74,900 MT, including 54,000 MT switched from unknown destinations and decreases of 300 MT), the Netherlands (73,800 MT, including 70,000 MT switched from unknown destinations), Bangladesh (53,500 MT), Japan (36,300 MT), and South Korea (26,000 MT, including 25,000 MT switched from unknown destinations). For 2016-17, net sales of 10,600 MT were reported for South Korea (9,800 MT) and Japan (800 MT).
Weekly Export Details Exports of 408,600 MT were up 27% from the previous week, but down 21% from the prior 4-week average. The primary destinations were Mexico (113,400 MT), Indonesia (77,400 MT), the Netherlands (73,800 MT), Bangladesh (53,500 MT), South Korea (27,300 MT), Costa Rica (17,100 MT), and Taiwan (16,100 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 7% behind year-ago, compared to 8% 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) 2015-16: 196,800
Trade Expectations (MT)

0-230,000

Weekly Sales Details Net sales of 196,800 MT for 2015-16 were up noticeably from the previous week, but unchanged from the prior 4-week average. Increases were reported for Mexico (120,300 MT), Colombia (21,500 MT), the Philippines (16,500 MT, including 1,100 MT switched from unknown destinations and decreases of 100 MT), the Dominican Republic (10,300 MT), Egypt (8,500 MT), Honduras (8,200 MT, including 6,600 MT switched from unknown destinations), Canada (7,300 MT), and Panama (1,500 MT). Reductions were reported for unknown destinations (1,100 MT) and Sri Lanka (100 MT).
Weekly Export Details Exports of 203,100 MT were up 38% from the previous week and 9% from the prior 4-week average. The primary destinations were the Philippines (99,700 MT), Mexico (55,200 MT), Ecuador (20,600 MT), Canada (7,300 MT), Honduras (7,300 MT), the Dominican Republic (7,000 MT), and Japan (2,500 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 14% behind last year's pace, compared to 15% 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: 2,100

Trade Expectations (MT) 0-20,000
Weekly Sales Details Net sales of 2,100 MT for 2015-16 resulted as increases for South Korea (11,000 MT, switched from unknown destinations), Mexico (1,800 MT), and Canada (200 MT), were partially offset by reductions for unknown destinations (11,000 MT).
Weekly Export Details Exports of 8,800 MT were down 3% from the previous week and 65% from the prior 4-week average. The destinations were primarily to Mexico (5,000 MT), Nicaragua (1,800 MT), the Dominican Republic (1,700 MT), and Canada (200 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 12% ahead of year-ago compared to 12% 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: 103,500
2015-16: 84,600
2016-17: 18,900
Weekly Sales Details Net upland sales totaling 84,600 RB for 2015-16 were down 60% from the previous week and 44% from the prior 4-week average. Increases were reported for Turkey (17,800 RB), China (14,600 RB), Indonesia (8,300 RB, including 300 RB switched from Japan), Guatemala (7,100 RB), India (6,500 RB), Mexico (5,400 RB), and Taiwan (4,600 RB). Reductions were reported for Japan (800 RB) and Switzerland (100 RB). For 2016-17, net sales of 18,900 RB were reported primarily for Thailand (5,200 RB), Mexico (4,600 RB), Indonesia (2,800 RB), and South Korea (2,600 RB).
Weekly Export Details Exports of 184,800 RB were down 44% from the previous week and 19% from the prior 4-week average. The primary destinations were Vietnam (46,900 RB), Turkey (40,500 RB), Mexico (19,200 RB), South Korea (13,300 RB), Indonesia (12,400 RB), and Pakistan (12,200 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 25% behind year-ago compared to 26% 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: 17,900

Weekly Sales Details Net sales of 17,900 MT for 2016 were up 58% from the previous week and 23% from the prior 4-week average. Increases were reported for Japan (6,500 MT), South Korea (4,500 MT), Mexico (3,900 MT), Canada (1,300 MT), and Hong Kong (900 MT).
Weekly Export Details Exports of 11,800 MT were up 2% from the previous week and 6% from the prior 4-week average. The primary destinations were Japan (3,800 MT), South Korea (2,500 MT), Mexico (1,900 MT), Hong Kong (1,400 MT), and Taiwan (900 MT).
Comments and Performance Indicators Weekly export sales totaled 11,300 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: 27,900
Weekly Sales Details Net sales of 27,900 MT for 2016 were up 5% from the previous week and 14% from the prior 4-week average. Increases reported for Mexico (10,800 MT), Japan (9,500 MT), South Korea (2,100 MT), Canada (1,700 MT), and Australia (1,100 MT), were partially offset by reductions for Costa Rica (100 MT).
Weekly Export Details Exports of 20,100 MT--a marketing-year-high--were up 15% from the previous week and 13% from the prior 4-week average. The primary destinations were Japan (4,600 MT), Mexico (4,500 MT), China (4,200 MT), South Korea (2,100 MT), and Canada (1,300 MT).
Comments and Performance Indicators Last week, export sales totaled 26,500 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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