Pitiful Soybean Export Sales to Close Out February

Posted on 03/07/2019 7:54 AM

USDA Weekly Export Sales Report

Week Ended Feb. 28, 2019

Corn

Actual Sales (in MT)

Combined: 1,250,600
2018-19: 969,700
2019-20: 280,900

Expectations (in MT)

2018-19: 7000,000-1,100,000
2019-20: 100,000-300,000

Weekly Sales Details

Net sales of 969,700 MT for 2018-19 were reported for Mexico (375,300 MT, including decreases of 38,400 MT), Japan (306,700 MT, including 82,100 MT switched from unknown destinations), Colombia (199,100 MT, including 77,000 MT switched from unknown destinations), South Korea (65,500 MT, including 65,000 MT switched from unknown destinations and decreases of 68,000 MT), and Canada (34,200 MT).  For 2019-20, total net sales of 280,900 MT were for Mexico.  

Weekly Export Details

Exports of 744,000 MT were primarily to Mexico (186,800 MT), Japan (154,100 MT), South Korea (133,200 MT), Colombia (82,100 MT), and Honduras (48,000 MT).  

 

Comments and Performance Indicators

Export commitments are running 1% behind year-ago versus 1% ahead of 2017-18 levels the previous week. USDA projects exports in 2018-19 at 2.450 billion bu., up 0.5% from the previous marketing year.

Wheat

Actual Sales (in MT)

Combined: 826,700
2018-19: 621,700
2019-20: 205,000

Expectations (in MT)

2018-19: 200,000-500,000
2019-20: 0-100,000

Weekly Sales Details

Net sales of 621,700 metric tons for delivery in the 2018-19 marketing year were reported for Mexico (156,600 MT, including decreases of 13,100 MT), South Korea (127,500 MT), the Philippines (85,900 MT, including decreases of 2,200 MT), Malaysia (62,400 MT, including decreases of 900 MT), and Egypt (55,000 MT). Reductions were primarily for unknown destinations (62,700 MT) and Japan (6,200 MT).  For 2019-20, net sales of 205,000 MT were primarily for unknown destinations (70,000 MT), Nigeria (48,000 MT), and the Philippines (45,000 MT). 

Weekly Export Details

Exports of 621,200 MT were reported for the Philippines (142,900 MT), Mexico (97,000 MT), Indonesia (54,700 MT), Nigeria (47,700 MT), and Chile (46,700 MT).  

 

Comments and Performance Indicators

Export commitments are running 2% ahead of year-ago versus 1% ahead of year-ago the week prior. USDA projects exports in 2018-19 at 1.000 billion bu., up 11.0% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 383,400
2018-19: 311,400
2019-20: 72,000

Expectations (in MT)

2018-19: 600,000-1,000,000
2019-20: 0-150,000

Weekly Sales Details

Net sales of 311,400 MT for 2018-19 were reported for China (146,300 MT, including 65,000 MT switched from unknown destinations and decreases of 66,300 MT), Egypt (94,900 MT, including 93,800 MT switched from unknown destinations and decreases of 4,000 MT), the Netherlands (76,500 MT, including 75,000 MT switched from unknown destinations), Mexico (58,000 MT, including decreases of 2,000 MT), and Indonesia (35,000 MT, including decreases of 8,800 MT).  Reductions were reported for unknown destinations (174,600 MT) and Taiwan (22,300 MT).  For 2019-20, total net sales of 72,000 MT were reported for Mexico.  

Weekly Export Details

Exports of 982,900 MT were primarily to China (403,300 MT), Egypt (149,900 MT), the Netherlands (76,500 MT), Mexico (61,400 MT), and Thailand (55,300 MT).  

 

Comments and Performance Indicators

Export commitments are running 18% behind the 2017-18 marketing year compared with 14% behind year-ago the previous week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 201,800
2018-19: 230,500
2019-20: -28,700

Expectations

100,000-250,000

Weekly Sales Details

Net sales of 230,500 MT for 2018-19 were reported for the Philippines (75,100 MT), Ecuador (30,000 MT), Colombia (25,000 MT, including 9,000 switched from unknown destinations and decreases of 500 MT), Mexico (23,700 MT), and Venezuela (20,000 MT).  Reductions were reported for unknown destinations (29,400 MT).  For 2019-20, net sales reductions of 28,700 MT resulting in increases for Mexico (1,300 MT), which were more than offset by reductions for Ecuador (30,000 MT).  

Weekly Export Details

Exports of 172,500 MT were primarily to Mexico (31,700 MT), the Philippines (25,600 MT), Cuba (24,200 MT), and Honduras (15,600 MT).

Comments and Performance Indicators

Export commitments for 2018-19 are running 7% ahead of year-ago, compared with 7% ahead as of the week before. USDA projects exports in 2018-19 to be down 7.3% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2018-19: 8,100

Expectations

5,000-25,000

Weekly Sales Details

Net sales of 8,100 MT for 2018-19 were reported for Guatemala (5,500 MT), El Salvador (1,500 MT), Mexico (600 MT), and Canada (300 MT).  

Weekly Export Details

Exports of 17,700 MT were to the Dominican Republic (12,500 MT), Colombia (2,600 MT), Mexico (1,900 MT), Canada (500 MT), and Honduras (100 MT).

 

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 5% behind year-ago, versus 1% behind year-ago the week prior. USDA projects exports in 2018-19 to be down 8.1% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 139,700
2018-19: 114,000
2019-20: 25,700

Weekly Sales Details

Net sales of 114,000 RB for 2018-19 were reported for Turkey (41,200 RB), Vietnam (20,800 RB, including 3,600 RB switched from South Korea, 400 RB switched from Macau, and decreases of 4,500 RB), South Korea (10,600 RB, including 2,200 RB switched from China and decreases of 500 RB), Pakistan (9,000 RB, including decreases of 9,400 RB), and Egypt (5,700 RB).  Reductions were reported for China (1,200 RB), Macau (400 RB), and Brazil (200 RB).  For 2019-20, net sales of 25,700 RB reported for China (17,700 RB), Japan (4,400 RB), Pakistan (2,200 RB), Ecuador (1,300 RB), and Peru (700 RB), were partially offset by reductions for Thailand (500 RB) and Malaysia (200 RB).

Weekly Export Details

Exports of 359,000 RB were primarily to Vietnam (97,700 RB), China (43,500 RB), Pakistan (43,000 RB), Turkey (38,100 RB), and India (25,400 RB). 

Comments and Performance Indicators

Export commitments for 2018-19 are running 11% behind year-ago, versus 9% behind the week prior. USDA forecasts total cotton exports to fall 5.4% to 15.0 million bales this marketing year.

Beef

Actual Sales (in MT)

2019: 24,700

Weekly Sales Details

Net sales of 24,700 MT for 2019 were primarily for South Korea (11,000 MT, including decreases of 300 MT), Japan (7,700 MT, including decreases of 200 MT), Canada (1,300 MT, including decreases of 200 MT), Taiwan (1,300 MT, including decreases of 100 MT), and Hong Kong (1,000 MT, including decreases of 200 MT). 

Weekly Export Details

Exports of 14,500 MT were primarily to Japan (4,400 MT), South Korea (4,000 MT), Mexico (1,600 MT), Hong Kong (1,300 MT), and Canada (1,000 MT).

 

Comments and Performance Indicators

Last week, sales totaled 16,700 MT. USDA projects 2019 exports to rise 2.4%.

Pork

Actual Sales (in MT)

2019: 24,400

Weekly Sales Details

Net sales of 24,400 MT for 2019 were primarily for Mexico (10,500 MT), Colombia (3,900 MT), South Korea (2,600 MT), Japan (1,800 MT), and Canada (1,700 MT)

Weekly Export Details

Exports of 26,400 MT were primarily to Mexico (8,100 MT), South Korea (4,000 MT), China (3,400 MT), Japan (3,100 MT), and Canada (1,800 MT).

Comments and Performance Indicators

Sales totaled 28,900 MT in last week’s report. USDA projects exports in 2019 will rise 6.1%.

 

 

 

 

 

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