Wheat, soymeal export sales plunge
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USDA Weekly Export Sales Report Week Ended March 10, 2022 |
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Corn |
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Actual Sales (in MT) |
2021-22: 1,836,400 |
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Expectations (in MT) |
2021-22: 700,000-1,400,000 |
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Weekly Sales Details |
Net sales of 1,836,400 MT for 2021/2022 were down 14 percent from the previous week, but up 64 percent from the prior 4-week average. Increases primarily for Japan (538,400 MT, including 94,500 MT switched from unknown destinations), unknown destinations (303,000 MT), Mexico (235,100 MT, including decreases of 35,400 MT), Colombia (179,800 MT, including 40,000 MT switched from unknown destinations and decreases of 6,900 MT), and South Korea (133,600 MT), were offset by reductions for China (2,100 MT) and Guatemala (400 MT). Total net sales of 204,000 MT for 2022/2023 were for China. |
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Weekly Export Details |
Exports of 1,273,500 MT were down 28 percent from the previous week and 25 percent from the prior 4-week average. The destinations were primarily to China (335,900 MT), Mexico (279,500 MT), Colombia (175,000 MT), Japan (94,700 MT), and Guatemala (87,300 MT). |
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Comments and Performance Indicators |
Export commitments are 14% behind year-ago, compared to 16% behind last week. USDA projects exports in 2021-22 at 2.500 billion bu., 9.2% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2021-22: 145,900 |
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Expectations (in MT) |
2021-22: 250,000-600,000 |
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Weekly Sales Details |
Net sales of 145,900 metric tons (MT) for 2021/2022 were down 53 percent from the previous week and from the prior 4-week average. Increases primarily for Colombia (46,200 MT), Mexico (42,700 MT, including decreases of 100 MT), Chile (29,300 MT, including 27,400 MT switched from unknown destinations and decreases of 100 MT), Vietnam (25,500 MT, including 24,500 MT switched from unknown destinations and decreases of 200 MT), and Nigeria (23,600 MT), were offset by reductions primarily for unknown destinations (91,400 MT). Net sales of 325,600 MT for 2022/2023 were reported for the Philippines (258,000 MT), Guatemala (45,600 MT), and Mexico (22,000 MT). |
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Weekly Export Details |
Exports of 249,500 MT were down 35 percent from the previous week and 42 percent from the prior 4-week average. The destinations were primarily to Mexico (81,000 MT), the Philippines (35,200 MT), Chile (29,300 MT), Vietnam (25,500 MT), and Malaysia (21,900 MT). |
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Comments and Performance Indicators |
Export commitments are running 23% behind a year-ago, the same as last week. USDA projects exports in 2021-22 at 800 million bu., down 19.4% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2021-22: 1,253,200 |
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Expectations (in MT) |
2021-22: 900,000-1,800,000 |
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Weekly Sales Details |
Net sales of 1,253,200 MT for 2021/2022 were down 43 percent from the previous week and 11 percent from the prior 4-week average. Increases primarily for China (395,500 MT, including 66,000 MT switched from unknown destinations and decreases of 66,700 MT), unknown destinations (267,600 MT), Egypt (241,800 MT, including decreases of 1,200 MT), Taiwan (162,500 MT), and Indonesia (83,200 MT, including 70,600 MT switched from unknown destinations and decreases of 200 MT), were offset by reductions for Costa Rica (800 MT). Net sales of 477,000 MT for 2022/2023 were reported for China (406,000 MT) and unknown destinations (71,000 MT). |
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Weekly Export Details |
Exports of 714,300 MT were down 14 percent from the previous week and 29 percent from the prior 4-week average. The destinations were primarily to China (370,200 MT), Mexico (120,600 MT), Indonesia (87,700 MT), Egypt (61,800 MT), and Taiwan (22,200 MT). |
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Comments and Performance Indicators |
Export commitments are running at 11% behind year-ago, compared to 13% behind last week. USDA projects exports in 2021-22 at 2.090 billion bu., down 7.6% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 147,400 |
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Expectations |
2021-22: 100,000-300,000 |
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Weekly Sales Details |
Net sales of 147,400 MT for 2021/2022 were down 53 percent from the previous week and 36 percent from the prior 4-week average. Increases primarily for Mexico (20,800 MT), Colombia (17,400 MT, including 10,000 MT switched from unknown destinations), Venezuela (15,000 MT), Israel (15,000 MT), and Honduras (12,000 MT), were offset by reductions for Guatemala (2,500 MT), Malaysia (300 MT), and Sri Lanka (200 MT). |
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Weekly Export Details |
Exports of 252,200 MT were unchanged from the previous week, but up 7 percent from the prior 4-week average. The destinations were primarily to the Philippines (69,700 MT), Colombia (41,000 MT), Mexico (31,100 MT), Canada (21,200 MT), and Morocco (18,400 MT). |
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Comments and Performance Indicators |
Export commitments are 2% ahead of a year-ago, versus 3% ahead last week. USDA projects exports in 2021-22 will climb 4.6% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2021-22: 22,600 |
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Expectations |
2021-22: 5,000-45,000 |
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Weekly Sales Details |
Net sales of 22,600 MT for 2021/2022 were up 36 percent from the previous week, but down 4 percent from the prior 4-week average. Increases reported for unknown destinations (20,000 MT), Colombia (4,000 MT), and Mexico (100 MT), were offset by reductions for Canada (1,000 MT) and the Dominican Republic (500 MT). |
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Weekly Export Details |
Exports of 6,600 MT were down 60 percent from the previous week and 71 percent from the prior 4-week average. The destinations were to Colombia (4,000 MT), Mexico (2,100 MT), and Canada (500 MT).
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Comments and Performance Indicators |
Export commitments are running 3% behind a year-ago, compared to 4% behind last week. USDA projects exports will fall 5.7% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2021-22: 371,400 |
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Net sales of 371,400 RB for 2021/2022 were up 5 percent from the previous week and 34 percent from the prior 4-week average. Increases primarily for China (144,700 RB), Turkey (59,300 RB, including decreases of 100 RB), Pakistan (36,900 RB, including 900 RB switched from the United Arab Emirates), Vietnam (28,500 RB, including 800 RB switched from Indonesia, 300 RB switched from South Korea, and 100 RB switched from Japan), and Nicaragua (19,600 RB), were offset by reductions for the United Arab Emirates (900 RB). Net sales of 49,000 RB for 2022/2023 were primarily for Pakistan (20,100 RB), Turkey (9,700 RB), Vietnam (6,600 RB), Thailand (4,000 RB), and Indonesia (2,600 RB). |
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Weekly Export Details |
Exports of 325,500 RB were up 1 percent from the previous week, but down 2 percent from the prior 4-week average. The destinations were primarily to China (121,700 RB), Pakistan (59,500 RB), Turkey (37,900 RB), Vietnam (27,600 RB), and Mexico (16,800 RB). Net sales of Pima totaling 12,300 RB were up noticeably from the previous week and from the prior 4-week average. Increases were reported for India (11,600 RB, including decreases of 100 RB), China (400 RB), Turkey (200 RB), and Malaysia (100 RB). Net sales of 1,300 RB for 2022/2023 were reported for India (900 RB) and Japan (400 RB). Exports of 7,800 RB were down 65 percent from the previous week and 45 percent from the prior 4-week average. The destinations were primarily to Peru (2,900 RB), India (2,800 RB), Honduras (600 RB), Turkey (400 RB), and Indonesia (300 RB). |
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Comments and Performance Indicators |
Export commitments are 4% behind year-ago, the same as last week. USDA forecasts total cotton exports will fall 9.9% from a year ago to 14.75 million bales in 2021-22. |
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Beef |
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Actual Sales (in MT) |
2022: 19,700 |
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Weekly Sales Details |
Net sales of 19,700 MT for 2022 were down 28 percent from the previous week and 11 percent from the prior 4-week average. Increases were primarily for China (6,600 MT, including decreases of 100 MT), Japan (5,200 MT, including decreases of 800 MT), South Korea (2,600 MT, including decreases of 700 MT), Mexico (1,700 MT), and Taiwan (1,300 MT, including decreases of 100 MT). |
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Weekly Export Details |
Exports of 16,300 MT were up 2 percent from the previous week, but unchanged from the prior 4-week average. The destinations were primarily to South Korea (4,600 MT), Japan (3,600 MT), China (2,700 MT), Taiwan (1,800 MT), and Canada (900 MT).
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Comments and Performance Indicators |
USDA projects 2022 exports will decline 4.3% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2022: 38,300 |
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Weekly Sales Details |
Net sales of 38,300 MT for 2022 were up 51 percent from the previous week and 36 percent from the prior 4-week average. Increases were primarily for Mexico (21,700 MT, including decreases of 200 MT), Japan (6,100 MT, including decreases of 100 MT), Australia (2,700 MT, including decreases of 100 MT), Honduras (1,500 MT), and South Korea (1,400 MT, including decreases of 700 MT). |
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Weekly Export Details |
Exports of 26,000 MT were down 9 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to Mexico (10,900 MT), Japan (3,900 MT), China (3,800 MT), South Korea (2,100 MT), and Canada (1,400 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will drop 4.3% from last year. |
