Surge in Corn Export Sales

Posted on 11/29/2018 7:45 AM

USDA Weekly Export Sales Report

Week Ended Nov. 22, 2018

Corn

Actual Sales (in MT)

2018-19: 1,266,500

Expectations (in MT)

 2018-19: 400,000 to 950,000

Weekly Sales Details

Net sales of 1,266,500 MT for 2018/2019 were up 44 percent from the previous week and 77 percent from the prior 4-week average.  Increases were reported for South Korea (327,900 MT, including 60,000 MT switched from Japan and decreases of 66,000 MT), Colombia (267,800 MT, including 93,000 MT switched from unknown destinations, 33,000 MT switched from Trinidad and Tobago, and decreases of 900 MT), Japan (197,500 MT, including 40,200 MT switched from unknown destinations and decreases of 65,900 MT), Peru (157,000 MT, including 30,000 MT switched from unknown destinations and decreases of 3,600 MT), and Mexico (120,800 MT, including decreases of 4,400 MT).  Reductions were for Trinidad and Tobago (33,000 MT).

Weekly Export Details

Exports of 1,053,200 MT were up 26 percent from the previous week and 4 percent from the prior 4-week average.  The destinations were primarily to Mexico (255,400 MT), Colombia (211,900 MT), Japan (207,300 MT), Peru (121,500 MT), and Taiwan (76,300 MT).

Comments and Performance Indicators

Export commitments are running 16% ahead of year-ago versus 13% ahead of 2017-18 levels last 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)

2018-19: 377,100

Expectations (in MT)

2018-19: 250,000 to 500,000

Weekly Sales Details

Net sales of 377,100 metric tons for 2018/2019 were up 14 percent from the previous week, but down 25 percent from the prior 4-week average.  Increases were reported for Peru (80,500 MT, including 80,000 MT switched from unknown destinations), Nigeria (78,500 MT, including 34,000 MT switched from unknown destinations and decreases of 500 MT), Mexico (78,100 MT, including decreases of 400 MT), the Philippines (60,000 MT), and Japan (56,000 MT, including decreases of 100 MT).  Reductions were reported for unknown destinations (66,600 MT) and the French West Indies (8,600 MT).

Weekly Export Details

Exports of 249,800 MT--a marketing-year low--were down 50 percent from the previous week and 34 percent from the prior 4-week average.  The destinations were primarily to South Korea (75,700 MT), Japan (50,200 MT), Mexico (44,600 MT), Nigeria (33,500 MT), and Jamaica (21,300 MT).

Comments and Performance Indicators

Export commitments are running 13% behind year-ago versus 15% 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)

2018-19:  628,800

Expectations (in MT)

2018-19: 400,000 to 900,000

Weekly Sales Details

Net sales of 628,800 MT for 2018/2019 were down 8 percent from the previous week, but up 50 percent from the prior 4-week average.  Increases were reported for the Netherlands (235,600 MT, including 192,000 MT switched from unknown destinations, 63,000 MT switched from China and decreases of 25,400 MT), Argentina (112,700 MT, including 40,000 MT switched from unknown destinations, 27,000 MT switched from Switzerland, and decreases of 1,500 MT), Mexico (94,300 MT, including 47,500 MT switched from unknown destinations and decreases of 800 MT), Japan (67,800 MT, including 33,200 MT switched from unknown destinations and decreases of 100 MT), and Pakistan (65,700 MT).  Reductions were primarily for unknown destinations (193,600 MT), China (63,000 MT), Switzerland (27,000 MT), and the United Kingdom (11,500 MT).

Weekly Export Details

Exports of 1,023,500 MT were down 20 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to the Netherlands (235,600 MT), Argentina (152,700 MT), Mexico (114,900 MT), Pakistan (65,700 MT), and Italy (64,700 MT).

Comments and Performance Indicators

Export commitments are running 32% behind the 2017-18 marketing year compared with 32% behind year-ago last week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

Soymeal

Actual Sales (in MT)

2018-19:  189,500

Expectations

2018-19: 175,000 to 400,000

Weekly Sales Details

Net sales of 189,500 MT for 2018/2019 were down 18 percent from the previous week and 39 percent from the prior 4-week average.  Increases were reported for Colombia (82,200 MT, including 34,200 MT switched from unknown destinations and decreases of 2,600 MT), Japan (51,100 MT, including 3,000 MT switched from unknown destinations), Peru (35,900 MT), and Canada (23,700 MT, including decreases of 1,500 MT).  Reductions were for unknown destinations (39,000 MT), Israel (16,000 MT), and Ecuador (500 MT).

Weekly Export Details

Exports of 209,900 MT were down 22 percent from the previous week and 8 percent from the prior 4-week average.  The destinations were primarily for Indonesia (53,500 MT), Colombia (49,000 MT), Mexico (31,700 MT), Peru (20,600 MT), and Canada (14,800 MT).

Comments and Performance Indicators

Export commitments for 2018-19 are running 16% ahead of year-ago early in the marketing year, compared with 16% ahead last week. USDA projects exports in 2018-19 to be down 7.3% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2018-19: 9,200

Expectations

2018-19: 8,000 to 30,000

Weekly Sales Details

Net sales of 9,200 MT for 2018/2019 were down 77 percent from the previous week and 63 percent from the prior 4-week average.  Increases were reported for Jamaica (3,500 MT), Mexico (3,000 MT), and Canada (2,400 MT).

Weekly Export Details

Exports of 23,500 MT were up noticeably from the previous week and the prior 4-week average.  Increases were reported to Colombia (14,000 MT), the Dominican Republic (4,000 MT), Mexico (3,200 MT), and Guatemala (2,000 MT).

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 54% ahead of year-ago, versus 58% ahead last week. USDA projects exports in 2018-19 to be down 10.2% from the previous year.

Cotton

Actual Sales (in RB)

2018-19:  176,800

Weekly Sales Details

Net sales of 176,800 RB for 2018/2019 were down 16 percent from the previous week, but up noticeably from the prior 4-week average.  Increases were reported for Vietnam (92,400 RB, including 200 RB switched from Japan), Pakistan (27,800 RB, including decreases of 2,200 RB), India (17,400 RB), Japan (11,400 RB, including 200 RB switched from Thailand and decrease of 800 RB), and Turkey (11,000 RB).  Reductions were reported for China (7,500 RB), Thailand (3,700 RB), and Costa Rica (700 RB).  For 2019/2020, net sales of 14,200 RB were reported for Portugal (11,000 RB), South Korea (2,900 RB), and Japan (300 RB).  Exports of 126,100 RB were down 16 percent from the previous week and 4 percent from the prior 4-week average.

Weekly Export Details

Exports were primarily to Vietnam (32,900 RB), China (19,200 RB), Pakistan (10,800 RB), Mexico (10,100 RB), and Indonesia (9,200 RB).  Net sales of Pima totaling 21,300 RB for 2018/2019 were down 18 percent from the previous week, but up 15 percent from the prior 4-week average.  Increases were reported for China (10,600 RB, including decreases of 400 RB), India (5,300 RB, including decreases of 1,300 RB), Peru (2,000 RB), Pakistan (1,800 RB), and Thailand (1,100 RB).  Exports of 9,800 RB were up 86 percent from the previous week and up noticeably from the prior 4-week average.  The destinations were primarily to China (3,500 RB), India (2,900 RB), and Vietnam (2,900 RB).

Comments and Performance Indicators

Export commitments for 2018-19 are running in line with year-ago levels compared with 2% ahead last week. USDA forecasts total cotton exports to fall 5.4% to 15.0 million bales this marketing year.

Beef

Actual Sales (in MT)

2018: 9,100
2019: 1,700

Weekly Sales Details

Net sales of 9,100 MT reported for 2018 were down 26 percent from the previous week and 42 percent from the prior 4-week average.  Increases were reported for Japan (3,300 MT, including decreases of 400 MT), South Korea (2,500 MT, including decreases of 300 MT), Taiwan (700 MT), Hong Kong (700 MT, including decreases of 400 MT), and Mexico (500 MT, including decreases of 100 MT).  Reductions were reported for Vietnam (100 MT).  For 2019, net sales of 1,700 MT were primarily for South Korea (1,200 MT), Taiwan (200 MT), and Canada (100 MT).

Weekly Export Details

Exports of 14,600 MT were down 11 percent from the previous week and 12 percent from the prior 4-week average.  The primary destinations were South Korea (4,300 MT), Japan (4,100 MT), Hong Kong (1,700 MT), Mexico (1,500 MT), and Taiwan (1,000 MT).

Comments and Performance Indicators

Today's tally compares to net sales of 12,300 MT for 2018 last week. USDA projects exports in 2018 to be up 11.5% from last year's total.

Pork

Actual Sales (in MT)

2018: 20,900
2019: 13,000

Weekly Sales Details

Net sales of 20,900 MT reported for 2018 were up 44 percent from the previous week and 7 percent from the prior 4-week average.  Increases were reported for Mexico (7,200 MT), Japan (4,600 MT), China (3,300 MT), Australia (1,300 MT), and Colombia (1,000 MT).  Reductions were reported for the Philippines (300 MT).  For 2019, net sales of 13,000 MT were reported for China (9,400 MT), South Korea (1,200 MT), Chile (800 MT), Mexico (400 MT), and Colombia (300 MT).

Weekly Export Details

Exports of 26,000 MT were down 4 percent from the previous week and 1 percent from the prior 4-week average.  The primary destinations were Mexico (9,000 MT), South Korea (4,300 MT), Japan (3,500 MT), Colombia (2,300 MT), and Canada (1,800 MT).

Comments and Performance Indicators

Last week, USDA reported export sales of 14,600 MT for 2018. USDA projects exports in 2018 to be 6.3% above last year's total.

 

 

Add new comment