Weekly Soybean Export Sales Impress

Posted on 03/09/2017 10:23 AM

USDA Weekly Export Sales Report
Week Ended April 28, 2016

Corn
Actual Sales (in MT)

Combined: 829,800
2015-16: 769,300

2016-17: 60,500

Trade Expectations (MT) 900,000-1,450,000
Weekly Sales Details Net sales of 769,300 MT for 2015-16 were down 64% from the previous week and 44% from the prior 4-week average. Increases were reported for Japan (458,600 MT, including 111,900 MT switched from unknown destinations and decreases of 25,300 MT), Mexico (113,900 MT, including 57,000 MT switched from unknown destinations and decreases of 18,100 MT), Taiwan (88,700 MT, including 65,000 MT switched from unknown destinations and decreases of 700 MT), Peru (67,100 MT, including 57,000 MT switched from unknown destinations and decreases of 2,100 MT), China (65,100 MT, including 60,000 MT switched from unknown destinations), and Venezuela (60,000 MT). Reductions were reported for unknown destinations (246,200 MT), Nicaragua (18,800 MT), the French West Indies (8,600 MT) and Guatemala (2,000 MT). For 2016-17, net sales of 60,500 MT were reported for Mexico (30,000 MT), Nicaragua (17,500 MT), and Peru (13,000 MT).
Weekly Export Details Exports of 1,226,000 MT were up 13% from the previous week and 9% from the prior 4-week average. The primary destinations were Mexico (373,700 MT), Colombia (257,500 MT), Peru (140,900 MT), Japan (111,900 MT), Taiwan (101,000 MT), China (65,100 MT), and Venezuela (60,000 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2015-16 are running 8% behind year-ago, compared to 8% 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: 318,900
2015-16: 178,900
2016-17: 140,000

Trade Expectations (MT) 200,000-700,000
Weekly Sales Details Net sales of 178,900 metric tons for delivery in marketing year 2015-16 were down 49% from the previous week, but up 1% from the prior 4-week average. Increases reported for China (61,500 MT), Mexico (36,100 MT), Nigeria (32,200 MT), Ecuador (28,100 MT, including 25,500 MT switched from unknown destinations), Japan (28,000 MT, including 24,100 MT switched from unknown destinations), Colombia (23,700 MT), and Italy (10,300 MT), were partially offset by reductions for unknown destinations (59,000 MT), the Dominican Republic (4,100 MT), Taiwan (1,000 MT), and Jamaica (300 MT). For 2016-17, net sales of 140,000 MT were reported primarily for China (61,500 MT), Mexico (25,700 MT), Japan (20,000 MT), and South Korea (19,700 MT). Reductions were reported for Italy (10,300 MT) and Trinidad (1,600 MT).
Weekly Export Details Exports of 385,200 MT were down 12% from the previous week and 4% from the prior 4-week average. The primary destinations were Japan (64,000 MT), Nigeria (43,200 MT), Mexico (33,800 MT), China (31,500 MT), South Korea (29,500 MT), and Ecuador (28,100 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 12% behind year-ago compared to 14% 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: 1,245,800
2015-16: 815,800
2016-17: 430,000

Trade Expectations (MT) 600,000-1,000,000
Weekly Sales Details Net sales of 815,800 MT for 2015-16 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for unknown destinations (483,600 MT), Japan (69,100 MT, including 29,200 MT switched from unknown destinations and decreases of 6,200 MT), Germany (63,300 MT, previously reported as Egypt), France (60,900 MT, previously reported as Egypt), China (60,000 MT), and Venezuela (30,000 MT, switched from unknown destinations). Reductions were reported for Bangladesh (3,000 MT), India (2,800 MT), Sri Lanka (1,700 MT), and Costa Rica (1,300 MT). For 2016-17, net sales of 430,000 MT were reported for unknown destinations (296,000 MT), Mexico (103,200 MT), Japan (14,800 MT), Taiwan (6,000 MT), Malaysia (5,000 MT), and Indonesia (5,000 MT).
Weekly Export Details Exports of 305,700 MT were up 10% from the previous week, but down 4% from the prior 4-week average. The primary destinations were Germany (63,300 MT, previously reported as Egypt), France (60,900 MT, previously reported as Egypt), Japan (34,900 MT), Venezuela (30,000 MT), Indonesia (27,100 MT), and Costa Rica (25,700 MT).
Comments and Performance Indicators Sales topped 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) 2015-16: 152,700
Trade Expectations (MT)

150,000-350,000

Weekly Sales Details Net sales of 152,700 MT for 2015-16 were down 27% from the previous week, but up 9% from the prior 4-week average. Increases were reported for the Philippines (88,500 MT), Venezuela (20,000 MT), Colombia (19,200 MT, including 10,000 MT switched from unknown destinations and decreases of 500 MT), Peru (12,300 MT, including 12,000 MT switched from unknown destinations), Honduras (11,500 MT, including 9,900 MT switched from unknown destinations), and Trinidad (10,600 MT, including 9,800 MT switched from unknown destinations. Reductions were reported for unknown destinations (42,800 MT), Taiwan (12,000 MT), the French West Indies (3,300 MT), and Nicaragua (700 MT).
Weekly Export Details Exports of 202,800 MT were down 18% from the previous week and 1% from the prior 4-week average. The primary destinations were Mexico (84,200 MT), the Philippines (29,100 MT), Colombia (22,600 MT), Peru (17,900 MT), Trinidad (13,300 MT), Honduras (11,400 MT), and Canada (10,300 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 13% behind last year's pace, compared to 13% 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: 10,000

Trade Expectations (MT) 0-20,000
Weekly Sales Details Net sales of 10,000 MT for 2015-16 were up 4% from the previous week and up noticeably from the prior 4-week average. Increases were reported for the Dominican Republic (7,900 MT), Haiti (800 MT), Mexico (700 MT), Panama (500 MT), Trinidad (100 MT), and Lebanon (100 MT).
Weekly Export Details Exports of 4,200 MT were down 72% from the previous week and 67% from the prior 4-week average. The destinations were primarily to Mexico (2,500 MT), Haiti (1,300 MT), the Philippines (200 MT), and Lebanon (100 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 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: 86,100
2015-16: 61,300
2016-17: 24,800
Weekly Sales Details Net upland sales totaling 61,300 RB for 2015-16 were up 26% from the previous week, but down 45% from the prior 4-week average. Increases were reported for Brazil (23,600 RB), China (22,200 RB), Pakistan (17,200 RB), Indonesia (9,700 RB, including 1,200 RB switched from Japan, and decreases of 100 RB)Thailand (9,200 RB, including 800 RB switched from China and 100 RB switched from Japan), and Mexico (2,800 RB, including 800 RB switched from Ecuador and 400 RB switched from Honduras). Reductions were reported for Turkey (8,700 RB), South Korea (6,600 RB), Colombia (3,500 RB), and Vietnam (3,100 RB). For 2016-17, net sales of 24,800 RB reported primarily for Mexico (9,200 RB), Peru (5,900 RB), South Korea (3,600 RB), and Colombia (3,500 RB), were partially offset by reductions for Guatemala (400 RB).
Weekly Export Details Exports of 277,600 RB were up 14% from the previous week and 16% from the prior 4-week average. The primary destinations were Turkey (83,700 RB), Vietnam (33,400 RB), Mexico (25,700 RB), Indonesia (19,700 RB), South Korea (17,200 RB), Bangladesh (14,700 RB), and Taiwan (12,500 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: 15,500

Weekly Sales Details Net sales of 15,500 MT for 2016 were up 29% from the previous week and 16% from the prior 4-week average. Increases were reported for Japan (7,100 MT), South Korea (2,900 MT), Canada (2,200 MT), Mexico (1,800 MT), and Taiwan (700 MT).
Weekly Export Details Exports of 12,500 MT--a marketing-year high--were up 13% from the previous week and 8% from the prior 4-week average. The primary destinations were Japan (5,500 MT), South Korea (2,200 MT), Mexico (1,700 MT), Canada (1,100 MT), and Hong Kong (1,000 MT).
Comments and Performance Indicators Weekly export sales totaled 12,100 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: 30,300
Weekly Sales Details Net sales of 30,300 MT for 2016 were down 50% from the previous week and 13% from the prior 4-week average. Increases were reported for Mexico (20,300 MT), Japan (3,600 MT), China (1,900 MT), South Korea (1,800 MT), and Canada (1,300 MT). Reductions were reported for Costa Rica (100 MT).
Weekly Export Details Exports of 23,200 MT--a marketing-year high--were up 5% from the previous week and 16% from the prior 4-week average. The primary destinations were Mexico (6,600 MT), China (5,500 MT), Japan (3,900 MT), South Korea (1,700 MT), and Australia (1,500 MT).
Comments and Performance Indicators Last week, export sales totaled 60,900 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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