Light Old-crop Corn and Bean Export Sales

Posted on 06/21/2018 7:44 AM

 

USDA Weekly Export Sales Report

Week Ended June 14, 2018

Corn

Actual Sales (in MT)

Combined: 505,600
 2017-18: 165,900
 2018-19: 339,700

Expectations (in MT)

 2017-18: 700,000-1,000,000
 2018-19: 150,000-400,000

Weekly Sales Details

Net sales of 165,900 MT for 2017-18 were down 82% from the previous week and from the prior 4-week average.  Increases were reported for Mexico (214,800 MT, including 32,000 MT switched from unknown destinations and decreases of 39,800 MT), Japan (142,600 MT, including 83,700 MT switched from unknown destinations, 63,000 MT switched from South Korea, and decreases of 14,400 MT), Peru (108,000 MT, including 100,000 MT switched from unknown destinations and decreases of 3,000 MT), Spain (71,500 MT, including 65,000 MT switched from unknown destinations), and the Netherlands (69,400 MT, including 65,000 MT switched from unknown destinations).  Reductions were primarily for unknown destinations (584,700 MT) and South Korea (61,100 MT).  For 2018-19, net sales of 339,700 MT reported for South Korea (191,000 MT), Mexico (73,000 MT), and Panama (40,500 MT), were partially offset by reductions for Japan (1,000 MT). 

Weekly Export Details

Exports of 1,762,900 MT were up 25% from the previous week and 13% from the prior 4-week average.  The destinations were primarily to Japan (550,700 MT), Mexico (338,900 MT), Spain (182,500 MT), South Korea (130,000 MT), and Peru (97,000 MT).

Comments and Performance Indicators

Export commitments for the 2017-18 marketing year are running 2% ahead of year-ago, which compares to 3% ahead of year-ago the week prior. USDA projects exports in 2017-18 at 2.300 billion bu., up 0.3% from the previous marketing year.

Wheat

Actual Sales (in MT)

2018-19: 461,600

Expectations (in MT)

 2018-19: 250,000-500,000

Weekly Sales Details

Net sales of 461,600 metric tons were reported for delivery in marketing year 2018-19.  The primary destinations were the Philippines (137,000 MT, including 50,000 MT switched from unknown destinations), Japan (118,500 MT, including decreases of 41,900 MT), Thailand (49,600 MT, including 5,000 MT switched from unknown destinations), Mexico (46,300 MT), and Ecuador (27,800 MT, switched from unknown destinations).  Reductions were reported for unknown destinations (13,000 MT) and Algeria (1,300 MT). 

Weekly Export Details

Exports of 426,900 MT were reported to Japan (79,100 MT), South Korea (56,100 MT), the Philippines (55,000 MT), Indonesia (54,000 MT), and Thailand (53,500 MT). 

Comments and Performance Indicators

Export commitments are running 33% behind year-ago versus 35% behind last week. USDA projects exports in 2018-19 at 950 million bu., up 5.6% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 529,300
 2017-18: 301,700
 2018-19: 227,600

Expectations (in MT)

 2017-18: 300,000-600,000
 2018-19: 100,000-400,000

Weekly Sales Details

Net sales of 301,700 MT for 2017-18 were down 42% from the previous week, but up 48% from the prior 4-week average.  Increases were reported for the Netherlands (240,300 MT, including 219,300 MT switched from unknown destinations), Vietnam (82,300 MT, including 66,000 MT switched from China), Saudi Arabia (65,900 MT, including 60,000 MT switched from unknown destinations), Japan (54,700 MT, including 9,500 MT switched from unknown destinations and decreases of 600 MT), and Germany (52,500 MT, including 55,000 MT switched from unknown destinations and decreases of 2,500 MT).  Reductions were primarily for unknown destinations (204,300 MT) and China (66,000 MT).  For 2018-19, net sales of 227,600 MT were primarily for unknown destinations (172,000 MT) and Japan (23,100 MT). 

Weekly Export Details

Exports of 992,000 MT were up 66% from the previous week and 49% from the prior 4-week average.  The destinations were to the Netherlands (240,300 MT), Egypt (155,900 MT), Taiwan (87,700 MT), Mexico (79,100 MT), and Vietnam (78,500 MT). 

Comments and Performance Indicators

Export commitments are running 4% behind year-ago, versus 5% behind last week. USDA projects exports in 2017-18 at 2.065 billion bu., down 5.0% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 120,100
2017-18: 115,100
2018-19: 5,000

Expectations

 2017-18: 50,000-250,000
 2018-19: 0-50,000

Weekly Sales Details

Net sales of 115,100 MT for 2017-18 were up 54% from the previous week, but down 22% from the prior 4-week average.  Increases were reported for Colombia (31,600 MT), Japan (19,300 MT), the Dominican Republic (17,500 MT), Mexico (15,900 MT, including decreases of 200 MT), and Canada (12,700 MT).  Reductions were reported for Chile (1,600 MT), Spain (500 MT), and Nicaragua (200 MT).  For 2018-19, net sales of 5,000 MT were primarily for Japan (2,300 MT) and Guatemala (1,800 MT). 

Weekly Export Details

Exports of 210,100 MT were down 32% from the previous week and 13% from the prior four-week average.  The primary destinations were Spain (69,000 MT), Mexico (25,200 MT), Japan (20,200 MT), Colombia (20,000 MT), and Canada (18,900 MT).

 

Comments and Performance Indicators

Export commitments for 2017-18 are running 13% ahead of year-ago, which compares with 13% ahead last week. USDA projects exports in 2017-18 to be up 12.9% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 18,800
2017-18: 16,000
2018-19: 2,800

Expectations

 2017-18: 0-20,000
2018-19: 0-10,000

Weekly Sales Details

Net sales of 16,000 MT for 2017-18 were up noticeably from the previous week and 91% from the prior 4-week average.  Increases were primarily for Colombia (7,000 MT), Jamaica (3,500 MT), Mexico (2,800 MT), the Dominican Republic (1,500 MT), and Canada (1,000 MT).  For 2018-19, net sales of 2,800 MT were reported for Canada. 

Weekly Export Details

Exports of 29,900 MT were up 94% from the previous week and 5% from the prior 4-week average.  The primary destinations were Peru (17,600 MT), the Dominican Republic (9,000 MT), and Mexico (2,900 MT).

 

Comments and Performance Indicators

Export commitments for the 2017-18 marketing year are running 7% behind year-ago versus 7% behind the week prior. USDA projects exports in 2017-18 to be down 6.1% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 183,000
 2017-18: -112,400
 2018-19: 295,400

Weekly Sales Details

Net sales reductions of 112,400 running bales for 2017-18 were down noticeably from the previous week and from the prior 4-week average.  Increases were reported for China (31,700 RB, including 5,500 RB switched from Vietnam and decreases of 10,700 RB), Turkey (3,200 RB, including decreases of 2,400 RB), Thailand (1,400 RB, including decreases of 600 RB), Italy (400 RB), and Malaysia (300 RB).   Reductions were primarily for Vietnam (68,300 RB), Indonesia (40,500 RB), and Hong Kong (26,400 RB).  For 2018-19, net sales of 295,400 RB reported for China (211,700 RB), Hong Kong (26,400 RB), and Mexico (17,500 RB), were partially offset by reductions for Indonesia (18,100 RB) and Honduras (500 RB). 

Weekly Export Details

Exports of 312,800 RB were down 32% from the previous week and 31% from the prior 4-week average.  The primary destinations were Turkey (47,500 RB), Vietnam (46,300 RB), Indonesia (45,300 RB), Pakistan (25,000 RB), and Mexico (22,600 RB).  

Comments and Performance Indicators

Export commitments for 2017-18 are running 15% ahead of year-ago, compared with 17% ahead the week prior. USDA projects exports in 2017-18 will rise 7.2% from the previous year to 16.0 million bales.

Beef

Actual Sales (in MT)

2018: 16,700

Weekly Sales Details

Net sales of 16,700 MT for 2018 were down 25% from the previous week and 15% from the prior 4-week average.  Increases were primarily for South Korea (4,800 MT, including decreases of 500 MT), Japan (3,300 MT, including decreases of 2,900 MT), Mexico (3,300 MT, including decreases of 100 MT), Hong Kong (1,500 MT, including decreases of 300 MT), and Taiwan (1,400 MT, including decreases of 100 MT). 

Weekly Export Details

Exports of 18,600 MT--a marketing-year high--were unchanged from the previous week, but up 11% from the prior 4-week average.  The primary destinations were Japan (6,900 MT), South Korea (4,700 MT), Mexico (1,900 MT), Taiwan (1,600 MT), and Hong Kong (1,200 MT).

Comments and Performance Indicators

Today's tally compares to net sales of 22,500 MT last week. USDA projects exports in 2018 to be up 6.6% from last year's total.

Pork

Actual Sales (in MT)

2018: 9,600

Weekly Sales Details

Net sales of 9,600 MT for 2018 were down 35% from the previous week and 42% from the prior 4-week average.  Increases were reported for Japan (2,500 MT), Canada (1,200 MT), Colombia (1,000 MT), Mexico (900 MT), and Australia (900 MT).

Weekly Export Details

Exports of 19,500 MT were down 13% from the previous week and 11% from the prior 4-week average.  The primary destinations were Mexico (8,300 MT), Japan (3,600 MT), South Korea (2,400 MT), Colombia (1,100 MT), and Canada (1,000 MT).  

Comments and Performance Indicators

Last week, USDA reported export sales of 14,700 MT for 2018. USDA projects exports in 2018 to be 6.4% above last year's total.

 

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