Light Corn, Wheat Sales the Week of Thanksgiving

Posted on 11/30/2017 8:08 AM

 

USDA Weekly Export Sales Report
Week Ended Nov. 23, 2017


Corn
Actual Sales (in MT)

2017-18: 599,200

Trade Expectations (MT) 2017-18: 700,000-1,100,000
2018-19: 0-100,000
Weekly Sales Details Net sales of 599,200 MT for 2017-18 were down 45% from the previous week and 54% from the prior 4-week average.  Increases were reported for Mexico (205,000 MT, including decreases of 2,000 MT), Japan (201,200 MT, including 91,900 MT switched from unknown destinations and decreases of 200 MT), South Korea (71,200 MT), Costa Rica (57,400 MT, including 27,700 MT switched from Honduras), Colombia (43,600 MT, including 40,000 MT switched from unknown destinations and decreases of 1,900 MT), and Morocco (25,000 MT).  Reductions were reported for unknown destinations (38,600 MT). 
Weekly Export Details Exports of 651,200 MT were primarily to Mexico (268,800 MT), Japan (114,700 MT), Peru (111,500 MT), Colombia (70,200 MT), and Costa Rica (28,100 MT).
Comments and Performance Indicators Old-crop sales were lighter than anticipated. Export commitments for the 2017-18 marketing year are running 27% behind year-ago. USDA projects exports in 2017-18 at 1.925 billion bu., down 16.0% from the previous marketing year.

Wheat
Actual Sales (in MT)

Combined: 187,400
2017-18: 184,400
2018-19: 3,000

Trade Expectations (MT) 2017-18: 250,000-450,000
Weekly Sales Details Net sales of 184,400 metric tons for delivery in marketing year 2017-18 were down 8% from the previous week and 59% from the prior 4-week average.  Increases were for Colombia (48,200 MT, including 30,000 MT switched from unknown destinations), Japan (44,600 MT, including 34,200 MT late reporting), the Philippines (44,300 MT), Mexico (27,500 MT, including decreases of 800 MT), and Peru (12,200 MT). Reductions were reported for Jamaica (6,700 MT) and Nigeria (4,000 MT).  For 2018-19, net sales of 3,000 MT were reported for Nicaragua. 
Weekly Export Details Exports of 337,500 MT were up 78% from the previous week and 16% from the prior 4-week average.  The primary destinations were the Philippines (95,800 MT), Japan (73,400 MT), Colombia (43,500 MT), Vietnam (41,100 MT), and Nigeria (36,000 MT).
Comments and Performance Indicators Sales fell short of expectations. Export commitments for 2017-18 are running 9% behind year-ago. USDA projects exports in 2017-18 at 1.0 billion bu., down 5.2% from the previous marketing year.

Soybeans
Actual Sales (in MT)

2017-18: 942,900

Trade Expectations (MT) 2017-18: 800,000-1,200,000
2018-19: 0-100,000
Weekly Sales Details Net sales of 942,900 MT for 2017-18 were up 9% from the previous week, but down 25% from the prior 4-week average.  Increases were reported for China (717,700 MT, including 387,000 MT switched from unknown destinations), the Netherlands (85,100 MT, including 74,000 MT switched from unknown destinations), Vietnam (73,600 MT, including 63,000 MT switched from unknown destinations), Turkey (43,100 MT, including 40,000 MT switched from unknown destinations), and Japan (41,000 MT, including 38,000 MT switched from unknown destinations and decreases of 200 MT).  Reductions were reported for unknown destinations (121,500 MT) and Honduras (14,000 MT).
Weekly Export Details Exports of 2,203,100 MT were primarily to China (1,716,500 MT), the Netherlands (85,100 MT), Thailand (84,000 MT), Vietnam (71,700 MT), and Mexico (61,000 MT).
Comments and Performance Indicators Sales for 2017-18 were as expected. Export commitments are running 18% behind year-ago. USDA projects exports in 2017-18 at 2.250 billion bu., up 3.5% from year-ago.

Soymeal
Actual Sales (in MT) Combined: 178,600
2017-18: 176,600
2018-19: 2,000
Trade Expectations (MT)

2017-18: 100,000-300,000

Weekly Sales Details Net sales of 176,600 MT for 2017-18 were reported for Mexico (67,500 MT), Thailand (53,500 MT, including 50,000 MT switched from unknown destinations), the Philippines (45,200 MT), Guatemala (28,800 MT, including 24,000 MT switched from unknown destinations), Honduras (13,200 MT, including 13,300 MT switched from unknown destinations and decreases of 100 MT), and Nicaragua (9,000 MT).  Reductions of 81,400 MT were reported for unknown destinations. For 2018-19, net sales of 2,000 MT were reported for Mexico.  
Weekly Export Details Exports of 173,900 MT were reported to Thailand (53,500 MT), Morocco (33,000 MT), the Philippines (22,000 MT), Canada (17,100 MT), and Mexico (12,000 MT).
Comments and Performance Indicators Sales were in line with expectations. Export commitments for 2017-18 are running 3% ahead of year-ago. USDA projects exports in 2017-18 to be up 5.2% from the previous marketing year.

Soyoil
Actual Sales (in MT)

Combined: 12,000
2017-18: 11,600
2018-19: 1,400

Trade Expectations (MT) 2017-18: 0-22,000
Weekly Sales Details Net sales of 11,600 MT for 2017-18 were primarily for the Dominican Republic (10,300 MT, including decreases of 4,300 MT) and Canada (2,900 MT). Reductions of 1,800 MT were reported for Mexico.  For 2018-19, net sales of 1,400 MT were reported for Canada.
Weekly Export Details Exports of 30,700 MT were reported to South Korea (13,000 MT), the Dominican Republic (4,300 MT), Jamaica (4,000 MT), Guatemala (3,800 MT), and Colombia (3,000 MT).
Comments and Performance Indicators Sales were as expected. Export commitments for the 2017-18 marketing year are running 53% behind year-ago. USDA projects exports in 2017-18 to be down 17.8% from the previous year.

Cotton
Actual Sales (in RB) Combined: 329,300
2017-18: 276,500
2018-19: 52,800
Weekly Sales Details Net sales of 276,500 running bales for 2017-18 were down 23% from the previous week and 14% from the prior 4-week average.   Increases were reported for Pakistan (71,800 RB), China (42,400 RB), Turkey (38,300 RB), and Vietnam (35,500 RB, including 700 RB switched from Taiwan). For 2018-19, net sales of 52,800 RB were reported for Pakistan (26,400 RB) and China (26,400 RB).
Weekly Export Details  
Comments and Performance Indicators Export commitments for 2017-18 are running 41% ahead of year-ago. USDA projects exports in 2017-18 will decline 2.8% from the previous year to 14.5 million bales.

Beef
Actual Sales (in MT)

Combined: 18,100
2017: 13,800

2018: 4,300

Weekly Sales Details Net sales of 13,800 MT reported for 2017 were up 49% from the previous week and 7% from the prior 4-week average.  Increases were reported for Japan (6,500 MT, including decreases of 1,900 MT), South Korea (3,600 MT, including decreases of 300 MT), Mexico (1,400 MT, including decreases of 100 MT), Canada (700 MT, including decreases of 100 MT), and Hong Kong (600 MT, including decreases of 200 MT).  For 2018, net sales of 4,300 MT were reported primarily for Hong Kong (3,100 MT), and South Korea (800 MT).  
Weekly Export Details Exports of 14,300 MT were down 18% from the previous week and 13% from the prior 4-week average.  The primary destinations were Japan (3,800 MT), South Korea (3,200 MT), Hong Kong (2,500 MT), Mexico (1,600 MT), and Taiwan (1,200 MT).
Comments and Performance Indicators USDA projects exports in 2017 to be up 11.7% from last year's total.

Pork
Actual Sales (in MT)

Combined: 00
2017: 00

2018: 00

Weekly Sales Details Net sales of 15,400 MT reported for 2017 were down 6% from the previous week and 3% from the prior 4-week average.  Increases were reported for Mexico (5,600 MT), Japan (4,200 MT), Canada (1,500 MT), Colombia (1,100 MT), and South Korea (800 MT).   For 2018, net sales of 4,000 MT were reported primarily for China (1,300 MT), South Korea (800 MT), and Australia (500 MT).
Weekly Export Details Exports of 21,700 MT  were down 12% from the previous week and 9% from the prior 4-week average.  The destinations were primarily Mexico (8,700 MT), Japan (3,700 MT), South Korea (3,500 MT), Canada (1,500 MT), and Hong Kong (800 MT).
Comments and Performance Indicators

USDA projects exports in 2017 to be 6.7% above last year's total.

 

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