Wheat Export Sales Surge

Posted on 03/09/2017 10:19 AM

USDA Weekly Export Sales Report
Week Ended Jan. 19, 2017

Corn
Actual Sales (in MT)

Combined: 1,391,400
2016-17: 1,370,400
2017-18: 21,000

Trade Expectations (MT) 700,000-1,075,000
Weekly Sales Details Net sales of 1,370,400 MT for 2016/2017 were up 2% from the previous week and 63% from the prior four-week average. Increases were for unknown destinations (358,000 MT), Japan (292,000 MT, including decreases of 65,500 MT), Colombia (171,800 MT, including decreases of 25,000 MT), Mexico (169,700 MT, including decreases of 42,800 MT), and South Korea (138,100 MT, including 71,500 MT switched from unknown destinations and decreases of 5,000 MT). Reductions were for Canada (1,000 MT). For 2017/2018, net sales of 21,000 MT were reported for Mexico.
Weekly Export Details Exports of 978,500 MT were up 6% from the previous week and 22% from the prior four-week average. The primary destinations were Mexico (326,100 MT), Taiwan (154,000 MT), South Korea (143,500 MT), Colombia (86,900 MT), and Japan (57,100 MT).
Comments and Performance Indicators Sales easily topped expectations. Export commitments for 2016-17 are running 69% ahead of year-ago, compared to 69% ahead the previous week. USDA projects exports in 2016-17 at 2.225 billion bu., up 17.2% from the previous marketing year.
Wheat
Actual Sales (in MT)

Combined: 957,300
2016-17: 853,400
2017-18: 103,900

Trade Expectations (MT) 200,000-475,000
Weekly Sales Details Net sales of 853,400 metric tons for delivery in marketing year 2016/2017--a marketing-year high--were up noticeably from the previous week and from the prior four-week average. Increases were reported for unknown destinations (212,300 MT), Morocco (210,000 MT), Indonesia (140,000 MT, including 70,000 MT switched from unknown destinations), Mexico (84,400 MT, including decreases of 300 MT), and China (60,000 MT). Reductions were for Taiwan (100 MT). For 2017/2018, net sales of 103,900 MT were reported for South Korea.
Weekly Export Details Exports of 296,700 MT were down 25% from the previous week and 20% from the prior four-week average. The primary destinations were Nigeria (76,800 MT), South Korea (56,800 MT), Guatemala (48,800 MT), the Philippines (33,000 MT), and Mexico (24,300 MT).
Comments and Performance Indicators Sales were much stronger than expected. Export commitments for 2016-17 are running 35% ahead of year-ago versus 32% ahead the week prior. USDA projects exports in 2016-17 at 975 million bu., up 25.8% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 665,400
2016-17: 539,400
2017-18: 126,000

Trade Expectations (MT) 450,000-700,000
Weekly Sales Details Net sales of 539,400 MT for 2016/2017 were down 45% from the previous week and 10% from the prior four-week average. Increases were reported for China (351,500 MT, including 302,000 MT switched from unknown destinations and decreases of 68,200 MT), Mexico (167,800 MT, including decreases of 21,100 MT), South Korea (156,300 MT, including 103,000 MT switched from unknown destinations), Indonesia (21,700 MT, including decreases of 1,500 MT), and Japan (20,700 MT, including decreases of 100 MT). Reductions were reported for unknown destinations (206,900 MT). For 2017/2018, net sales of 126,000 MT were reported for unknown destinations.
Weekly Export Details Exports of 1,261,500 MT were down 20% from the previous week and 22% from the prior four-week average. The primary destinations were China (962,900 MT), South Korea (112,600 MT), Mexico (37,000 MT), Italy (32,900 MT), and Tunisia (29,000 MT).
Comments and Performance Indicators Sales met expectations. Export commitments for 2016-17 are running 23% ahead of year-ago, compared to 23% ahead the previous week. USDA projects exports in 2016-17 at 2.050 billion bu., up 5.9% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 282,900
2016-17: 276,800
2017-18: 6,100
Trade Expectations (MT)

120,000-250,000

Weekly Sales Details Net sales of 276,800 MT for 2016/2017 were up 3% from the previous week and 53% from the prior four-week average. Increases were reported for the Philippines (89,700 MT), Pakistan (62,100 MT, including 45,000 MT switched from unknown destinations and decreases of 100 MT), Vietnam (45,000 MT, switched from unknown destinations), Saudi Arabia (43,700 MT, including decreases of 1,300 MT), and Mexico (33,400 MT, including decreases of 100 MT). Reductions were reported for unknown destinations (55,900 MT), Nicaragua (6,000 MT), Guyana (2,500 MT), and Taiwan (1,000 MT). For 2017/2018, net sales of 6,100 MT were reported for Nicaragua (6,000 MT) and Canada (100 MT).
Weekly Export Details Exports of 212,900 MT were down 21% from the previous week, but up 6% from the prior four-week average. The primary destinations were Pakistan (74,800 MT), Mexico (39,600 MT), Saudi Arabia (30,000 MT), Canada (12,300 MT), and Peru (12,100 MT).
Comments and Performance Indicators Sales topped expectations. Export commitments for 2016-17 are running 5% behind year-ago compared with 7% behind the week prior. USDA projects exports in 2016-17 to be down 3.0% from the previous marketing year.
Soyoil
Actual Sales (in MT)

2016-17: 49,500

Trade Expectations (MT) 10,000-25,000
Weekly Sales Details Net sales of 49,500 MT for 2016/2017 were up 19% from the previous week and up noticeably from the prior four-week average. Increases were reported for Morocco (18,000 MT), the Dominican Republic (12,600 MT), unknown destinations (10,000 MT), Mexico (3,200 MT), and Colombia (3,200 MT).
Weekly Export Details Exports of 10,100 MT were down 73% from the previous week and 66% from the prior four-week average. The primary destinations were Mexico (9,200 MT) and Canada (800 MT).
Comments and Performance Indicators Sales topped expectations. Export commitments for the 2016-17 marketing year are running 9% ahead of year-ago, compared to 2% behind last week. USDA projects exports in 2016-17 to be down 4.0% from the previous year.
Cotton
Actual Sales (in RB) Combined: 467,400
2016-17: 457,000
2017-18: 10,400
Weekly Sales Details Net upland sales of 457,000 RB for 2016/2017--a marketing-year high--were up 32% from the previous week and 65% from the prior four-week average. Increases were reported for China (98,400 RB, including decreases of 100 RB), Turkey (75,700 RB), Pakistan (70,400 RB), Indonesia (40,200 RB, including 800 RB switched from Japan), and India (36,600 RB). Reductions were reported for South Korea (1,100 RB), Nicaragua (400 RB), and Japan (300 RB). For 2017/2018, net sales of 10,400 RB were reported for South Korea (7,500 RB) and Turkey (2,900 RB).
Weekly Export Details Exports of 227,700 RB were up 2% from the previous week, but down 5% from the prior four-week average. The primary destinations were China (41,100 RB), Vietnam (37,800 RB), Indonesia (28,100 RB), Pakistan (23,800 RB), and Turkey (20,000 RB).
Comments and Performance Indicators Export commitments for 2016-17 are 70% ahead of year-ago, compared to 65% ahead the previous week. USDA projects exports to be up 36.6% from the previous year at 12 million bales.
Beef
Actual Sales (in MT)

2017: 21,800

Weekly Sales Details Net sales of 21,800 MT were reported for 2017. Increases were reported for South Korea (6,700 MT, including decreases of 200 MT), Japan (6,400 MT, including decreases of 1,900 MT), Hong Kong (3,200 MT, including decreases of 100 MT), Canada (1,900 MT, including decreases of 100 MT), and Mexico (1,500 MT, including decreases of 100 MT).
Weekly Export Details Exports of 12,800 MT were reported for 2017. The primary destinations were Japan (4,500 MT), South Korea (2,500 MT), Mexico (1,500 MT), Hong Kong (1,400 MT), and Canada (1,100 MT).
Comments and Performance Indicators Weekly export sales compare to 3,700 MT the week prior. USDA projects exports in 2017 to be up 4.8% from last year's total.
Pork
Actual Sales (in MT) 2017: 36,200
Weekly Sales Details Net sales of 36,200 MT were reported for 2017. Increases were reported for China (15,100 MT), Mexico (12,600 MT), Japan (2,700 MT), Hong Kong (1,600 MT), and Canada (1,500 MT).
Weekly Export Details Exports of 21,900 MT were reported for 2017. The primary destinations were Mexico (8,400 MT), Japan (3,800 MT), South Korea (2,600 MT), China (1,600 MT), and Canada (1,300 MT).
Comments and Performance Indicators

Export sales compare to 25,400 MT the prior week. USDA projects exports in 2017 to be 4.0% above last year's total.

 

"

Add new comment