Light Soybean Export Sales to Kick off October

Posted on 10/12/2018 8:11 AM

USDA Weekly Export Sales Report

Week Ended Oct. 4, 2018

Corn

Actual Sales (in MT)

2018-19: 1,006,700

Expectations (in MT)

 2018-19: 1,000,000-1,500,000

Weekly Sales Details

Net sales of 1,006,700 MT for 2018-19 were reported for Mexico (354,600 MT, including 63,000 MT switched from unknown destinations and decreases of 22,200 MT), Japan (281,700 MT, including 35,400 MT switched from unknown destinations and decreases of 274,900 MT), South Korea (195,600 MT, including 186,000 MT switched from unknown destinations), Taiwan (166,900 MT, including decreases of 65,200 MT), and Colombia (108,700 MT, including 67,000 MT switched from unknown destinations).  Reductions were reported for unknown destinations (267,100 MT) and the United Kingdom (11,500 MT).

Weekly Export Details

Exports of 1,605,200 MT were primarily to Mexico (442,300 MT), Japan (332,600 MT), South Korea (328,600 MT), Egypt (146,900 MT), and Colombia (135,800 MT).

 

Comments and Performance Indicators

Export commitments are running 51% ahead of year-ago versus 63% ahead of 2017-18 levels last week. USDA projects exports in 2018-19 at 2.475 billion bu., up 1.5% from the previous marketing year.

Wheat

Actual Sales (in MT)

2018-19: 339,000

Expectations (in MT)

2018-19: 300,000-600,000

Weekly Sales Details

Net sales of 339,000 metric tons for 2018-19 were down 22 percent from the previous week and 30 percent from the prior 4-week average.  Increases were reported for Taiwan (88,100 MT), the Philippines (53,700 MT, including decreases of 800 MT), Indonesia (53,400 MT), Mexico (52,800 MT, including decreases of 3,000 MT), and Panama (23,000 MT).  Reductions were for Nigeria (23,800 MT). 

Weekly Export Details

Exports of 501,900 MT--a marketing-year high--were up 58 percent from the previous week and 30 percent from the prior 4-week average.  The destinations were primarily to Vietnam (79,100 MT), the Philippines (75,700 MT), Indonesia (70,400 MT), Taiwan (52,000 MT), and Mexico (50,200 MT).

 

Comments and Performance Indicators

Export commitments are running 18% behind year-ago versus 19% behind last week. USDA projects exports in 2018-19 at 1.025 billion bu., up 13.8% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 444,300
2018-19: 439,700
2019-20: 4,600

Expectations (in MT)

2018-19: 800,000-1,300,000

Weekly Sales Details

Net sales of 439,700 MT for 2018-19 were reported for the Netherlands (85,200 MT, including 74,000 MT switched from unknown destinations), the United Kingdom (80,400 MT, including 66,000 MT switched from Pakistan), Germany (79,500 MT), Thailand (74,900 MT, including decreases of 300 MT), and Mexico (57,000 MT, including decreases of 3,300 MT).  Reductions were reported for China (187,900 MT) and Pakistan (64,000 MT).  For 2019/2020, net sales of 4,600 MT were reported for Japan.

Weekly Export Details

Exports of 884,500 MT were primarily to Egypt (88,400 MT), the Netherlands (85,200 MT), Germany (79,500 MT), the United Kingdom (68,900 MT), and Pakistan (68,000 MT). 

Comments and Performance Indicators

Export commitments are running 18% behind the 2017-18 marketing year compared with 13% behind year-ago last week. USDA projects exports in 2018-19 at 2.060 billion bu., down 3.2% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 251,200
2017-18: 3,000
2018-19: 348,200

Expectations

2018-19: 150,000-450,000

Weekly Sales Details

Net sales of 348,200 MT for the 2018-19 marketing year (which began October 1) were primarily for the Philippines (183,800 MT), Canada (71,200 MT,), unknown destinations (41,900 MT), and Japan (21,000 MT).  Reductions were reported for Mexico (1,400 MT) and the Dominican Republic (600 MT).   Net sales of 3,000 MT for September 27-30 reported for Canada (11,900 MT, including 3,000 MT switched from unknown destinations and decreases of 600 MT), Japan (2,900 MT, including decreases of 100 MT), and Mexico (1,600 MT, including decreases of 5,000 MT), were partially offset by reductions for Colombia (9,100 MT), unknown destinations (3,300 MT), the Dominican Republic (600 MT), and Indonesia (500 MT).  

A total of 665,000 MT in sales were outstanding on September 30 (the end of the 2017-18 marketing year) and carried over to the 2018-19 marketing year. 

Weekly Export Details

Exports of 70,300 MT were reported for September 28-30.  The primary destinations were Mexico (17,700 MT), Honduras (10,000 MT), Guatemala (8,700 MT), the Dominican Republic (6,400 MT), and Canada (5,900 MT).  

Accumulated exports for the 2018-19 marketing year were 12,137,700 MT, up 19 percent from the 10,164,800 MT reported in 2017-18.
 

Exports for October 1-4 of 128,300 MT were reported to the Philippines (97,200 MT), Canada (13,100 MT), and Mexico (10,000 MT). 

Comments and Performance Indicators

Export commitments for 2018-19 are running 19% ahead of year-ago to start the 2018-19 marketing year. USDA projects exports in 2018-19 to be down 9.4% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 12,100
2017-18: 700
2018-19: 11,400

Expectations

2018-19: 5,000-26,000

Weekly Sales Details

Net sales of 11,400 MT for the 2018-19 marketing year (which began October 1) were for Mexico (7,400 MT) and Canada (4,000 MT).  Exports for October 1-4 of 6,500 MT were reported for Guatemala (6,000 MT), Mexico (300 MT), and Canada (200 MT).  Net sales of 700 MT for September 28-30 were primarily for Mexico.  A total of 65,000 MT in sales were outstanding on September 30 (the end of the 2017-18 marketing year) and carried over to the 2018-19 marketing year. 

Weekly Export Details

Accumulated exports for the 2018-19 marketing year were 1,017,500 MT, down 9 percent from the 1,120,400 MT reported in 2017-18.

 

Comments and Performance Indicators

Export commitments for the 2017-18 marketing year are running 75% ahead of year-ago at the start of the 2018-19 marketing year. USDA projects exports in 2018-19 to be up 2.7% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 240,900
2018-19: 98,000
2019-20: 142,900

Weekly Sales Details

Net sales of 98,000 RB for 2018-19 were up noticeably from the previous week and up 44 percent from the prior 4-week average.  Increases were reported for Vietnam (70,000 RB, including 3,600 RB switched from South Korea and 1,300 RB switched from Bangladesh), Turkey (21,700 RB, including 21,300 RB late reporting), Japan (15,000 RB, including 12,200 RB late reporting and decreases of 600 RB), Pakistan (13,900 RB, including 13,500 RB late reporting and decreases of 900 RB), and South Korea (11,800 RB).   Reductions were reported for China (73,900 RB).  For 2019/2020, net sales of 142,900 RB were reported for China (136,400 RB), India (4,400 RB), and El Salvador (2,100 RB). 

Weekly Export Details

Exports of 208,400 RB were up 16 percent from the previous week and 38 percent from the prior 4-week average.  Exports were primarily to Vietnam (68,300 RB, including 8,100 late reporting), Turkey (38,000 RB, including 31,400 late reporting), Mexico (18,200 RB), Pakistan (17,200 RB), and Indonesia (14,900 RB, including 2,200 RB late reporting). 

Comments and Performance Indicators

Export commitments for 2018-19 are running 21% ahead of year-ago levels compared with 24% ahead last week. USDA forecasts total cotton exports to fall 2.2% to 15.5 million bales this marketing year.

Beef

Actual Sales (in MT)

Combined: 15,200
2018: 13,300
2019: 1,900

Weekly Sales Details

Net sales of 13,300 MT reported for 2018 were down 18 percent from the previous week and 10 percent from the prior 4-week average.  Increases were reported for South Korea (4,300 MT, including decreases of 500 MT), Japan (4,200 MT, including decreases of 400 MT), Canada (1,500 MT, including decreases of 300 MT), Taiwan (700 MT, including decreases of 100 MT), and Mexico (700 MT, including decreases of 200 MT).  For 2019, net sales of 1,900 MT were primarily for Japan (800 MT), South Korea (600 MT), and Canada (300 MT). 

Weekly Export Details

Exports of 21,300 MT--a marketing-year high--were up 69 percent from the previous week and 38 percent from the prior 4-week average.  The primary destinations were Japan (6,100 MT), South Korea (5,600 MT), Hong Kong (2,400 MT), Mexico (2,200 MT), and Taiwan (1,600 MT).

Comments and Performance Indicators

Today's tally compares to net sales of 16,100 MT last week. USDA projects exports in 2018 to be up 10.6% from last year's total.

Pork

Actual Sales (in MT)

2018: 16,700

Weekly Sales Details

Net sales of 16,700 MT reported for 2018 were up 14 percent from the previous week, but down 21 percent from the prior 4-week average.  Increases were reported primarily for Mexico (4,600 MT), Japan (3,400 MT), South Korea (3,000 MT), Canada (1,900 MT), and Hong Kong (1,100 MT).  

Weekly Export Details

Exports of 24,800 MT were up 13 percent from the previous week and 26 percent from the prior 4-week average.  The primary destinations were Mexico (8,200 MT), Japan (3,600 MT), South Korea (3,200 MT), Canada (2,100 MT), and Hong Kong (1,900 MT).

Comments and Performance Indicators

Last week, USDA reported export sales of 15,100 MT for 2018 and 2019. USDA projects exports in 2018 to be 6.3% above last year's total.

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