New-crop corn, soybean export sales top market expectations
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USDA Weekly Export Sales Report Week Ended Aug. 11, 2022 |
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Corn |
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Actual Sales (in MT) |
2021-22: 99,300 |
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Expectations (in MT) |
2021-22: 0-400,000 |
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Weekly Sales Details |
Net sales of 99,300 MT for 2021/2022 were down 48 percent from the previous week and 8 percent from the prior 4-week average. Increases primarily for China (71,500 MT), Colombia (13,600 MT), Honduras (11,400 MT, including 7,500 MT switched from Nicaragua, 6,000 MT switched from El Salvador, and decreases of 6,900 MT), Mexico (7,000 MT, including decreases of 26,000 MT), and Costa Rica (5,000 MT), were offset by reductions primarily for Nicaragua (7,500 MT), El Salvador (6,000 MT), and Trinidad and Tobago (1,900 MT). Net sales of 750,000 MT for 2022/2023 were primarily for unknown destinations (286,000 MT), Mexico (216,400 MT), China (136,500 MT), Guatemala (30,400 MT), and Colombia (24,000 MT). |
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Weekly Export Details |
Exports of 623,000 were down 12 percent from the previous week and 33 percent from the prior 4-week average. The destinations were primarily to China (273,500 MT), Mexico (271,300 MT), Trinidad and Tobago (25,100 MT, including 200 MT - Late), Panama (24,200 MT), and Honduras (14,700 MT). |
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Comments and Performance Indicators |
Export commitments are 13.3% behind year-ago, versus 13% behind last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2022-23: 207,200 |
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Expectations (in MT) |
2022-23: 250,000-650,000 |
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Weekly Sales Details |
Net sales of 207,200 metric tons (MT) for 2022/2023--a marketing-year low--were down 42 percent from the previous week and 46 percent from the prior 4-week average. Increases primarily for Mexico (85,300 MT, including decreases of 3,100 MT), the Philippines (64,800 MT), Brazil (28,200 MT, including 25,000 MT switched from unknown destinations), Japan (26,300 MT), and South Africa (16,500 MT), were offset by reductions primarily for unknown destinations (30,000 MT) and Portugal (18,000 MT). |
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Weekly Export Details |
Exports of 349,600 MT were down 43 percent from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to the Philippines (87,800 MT), Mexico (64,700 MT), Brazil (55,700 MT), Japan (36,200 MT), and Portugal (22,000 MT). |
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Comments and Performance Indicators |
Export commitments are running 2.2% behind year-ago, compared with 2% behind last week. USDA projects exports in 2022-23 at 825 million bu., up 3.1% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2021-22: 96,900 |
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Expectations (in MT) |
2021-22: (100,000)-300,000 |
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Weekly Sales Details |
Net sales of 96,900 MT for 2021/2022 primarily for China (80,800 MT, including 70,000 MT switched from unknown destinations and decreases of 200 MT), the Netherlands (66,100 MT, including 66,000 MT switched from unknown destinations), South Korea (59,600 MT, including 62,000 MT switched from unknown destinations and decreases of 2,400 MT), Spain (58,300 MT, including 55,000 MT switched from unknown destinations), and Colombia (16,700 MT, including 12,000 MT switched from unknown destinations and decreases of 300 MT), were offset by reductions for unknown destinations (133,000 MT), Egypt (62,000 MT), and Mexico (9,900 MT). Net sales of 1,302,800 MT for 2022/2023 were primarily for China (779,000 MT), unknown destinations (273,000 MT), Mexico (165,300 MT), Egypt (60,000 MT), and Indonesia (14,500 MT), were offset by reductions for Japan (100 MT). |
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Weekly Export Details |
Exports of 691,100 MT were down 23 percent from the previous week, but up 19 percent from the prior 4-week average. The destinations were primarily to China (285,000 MT), Mexico (126,200 MT), the Netherlands (66,100 MT), South Korea (60,700 MT), and Spain (58,300 MT). |
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Comments and Performance Indicators |
Export commitments are running 4.1% behind year-ago, compared with 4% behind last week. USDA projects exports in 2021-22 at 2.160 billion bu., down 4.7% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 66,600 |
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Expectations |
2021-22: 50,000-300,000 |
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Weekly Sales Details |
Net sales of 66,600 MT for 2021/2022 were down 27 percent from the previous week and 36 percent from the prior 4-week average. Increases primarily for Mexico (29,600 MT, including decreases of 2,000 MT), Canada (19,600 MT), Morocco (16,000 MT), Guatemala (10,600 MT, including decreases of 400 MT), and Colombia (3,900 MT, including decreases of 4,000 MT), were offset by reductions primarily for Vietnam (8,300 MT), El Salvador (5,600 MT), Costa Rica (4,500 MT), and Honduras (3,400 MT). Net sales of 296,700 MT for 2022/2023 were primarily for Mexico (123,000 MT), the Philippines (88,000 MT), Canada (53,300 MT), Colombia (8,300 MT), and El Salvador (8,000 MT). |
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Weekly Export Details |
Exports of 193,600 MT were down 5 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to Colombia (48,700 MT), Mexico (39,100 MT), Ecuador (38,000 MT), Morocco (30,000 MT), and Canada (20,700 MT). |
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Comments and Performance Indicators |
Export commitments are 2.1% behind year-ago, compared with 2% behind last week. USDA projects exports in 2021-22 will increase 0.2% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2021-22: 1,600 |
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Expectations |
2021-22: 0-25,000 |
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Weekly Sales Details |
Net sales of 1,600 MT for 2021/2022 were up noticeably from the previous week, but down 12 percent from the prior 4-week average. Increases reported for Guatemala (3,500 MT), were offset by reductions for Canada (1,900 MT). |
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Weekly Export Details |
Exports of 1,200 MT were down 92 percent from the previous week and 82 percent from the prior 4- week average. The destinations were primarily to Mexico (700 MT) and Canada (400 MT). |
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Comments and Performance Indicators |
Export commitments are running 1.7% ahead of year-ago, versus 2% behind last week. USDA projects exports will increase 2.5% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2022-23: 49,500 |
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Net sales of 49,500 RB for 2022/2023 primarily for China (30,000 RB, including decreases of 5,500 RB), Turkey (14,600 RB, including decreases of 100 RB), Honduras (10,900 RB), Nicaragua (8,000 RB switched from Vietnam), and Indonesia (7,400 RB, including decreases of 400 RB), were offset by reductions primarily for Vietnam (32,100 RB), Pakistan (3,700 RB), and India (2,900 RB). Net sales of 10,600 RB for 2023/2024 were reported for Bangladesh (5,500 RB) and Mexico (5,100 RB). |
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Weekly Export Details |
Exports of 267,400 RB were primarily to China (67,000 RB), Turkey (46,600 RB), Vietnam (30,400 RB), Bangladesh (20,900 RB), and India (20,800 RB). Net sales of Pima totaling 300 RB were reported for Turkey (200 RB) and Japan (100 RB). Exports of 1,700 RB were primarily to Indonesia (900 RB), India (500 RB), and South Korea (300 RB). |
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Comments and Performance Indicators |
Export commitments are running 29% ahead of year-ago, versus 47% ahead last week. USDA forecasts total cotton exports will fall 18.1% from a year ago to 12.0 million bales in 2022-23. |
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Beef |
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Actual Sales (in MT) |
2022: 18,900 |
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Weekly Sales Details |
Net sales of 18,900 MT for 2022 were up 29 percent from the previous week and unchanged from the prior 4-week average. Increases primarily for China (7,400 MT, including decreases of 100 MT), Japan (5,300 MT, including decreases of 200 MT), South Korea (1,900 MT, including decreases of 400 MT), Mexico (1,300 MT, including decreases of 200 MT), and Indonesia (900 MT), were offset by reductions for Chile (100 MT). Total net sales of 100 MT for 2023 were for Japan. |
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Weekly Export Details |
Exports of 19,000 MT were down 9 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to South Korea (5,600 MT), Japan (4,700 MT), China (3,800 MT), Taiwan (1,100 MT), and Mexico (1,100 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will rise 3.5% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2022: 13,600 |
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Weekly Sales Details |
Net sales of 13,600 MT for 2022 were down 37 percent from the previous week and 43 percent from the prior 4-week average. Increases primarily for Mexico (7,100 MT, including decreases of 300 MT), Japan (2,600 MT, including decreases of 300 MT), South Korea (900 MT, including decreases of 600 MT), Colombia (700 MT, including decreases of 300 MT), and Canada (600 MT, including decreases of 400 MT), were offset by reductions for Honduras (200 MT), Guatemala (100 MT), and Indonesia (100 MT). |
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Weekly Export Details |
Exports of 25,600 MT were down 6 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to Mexico (11,600 MT), China (5,000 MT), Japan (3,400 MT), South Korea (1,700 MT), and Canada (1,500 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will drop 6.4% from last year. |
