Weekly corn, soybean, wheat sales lackluster
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USDA Weekly Export Sales Report Week Ended May 4, 2023 |
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Corn |
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Actual Sales (in MT) |
2022-23: 257,300 |
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Expectations (in MT) |
2022-23: (100,000)-800,000 |
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Weekly Sales Details |
Net sales of 257,300 MT for 2022/2023 were down noticeably from the previous week, but up 11 percent from the prior 4-week average. Increases primarily for Japan (154,500 MT, including 92,100 MT switched from unknown destinations), Mexico (74,800 MT, including decreases of 22,400 MT), South Korea (70,800 MT, including 65,000 MT switched from unknown destinations), Colombia (45,600 MT, including 50,000 MT switched from unknown destinations and decreases of 11,000 MT), and Canada (14,600 MT, including decreases of 200 MT), were offset by reductions for unknown destinations (129,400 MT) and El Salvador (12,300 MT). Total net sales of 83,100 MT for 2023/2024 were for Mexico. |
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Weekly Export Details |
Exports of 1,146,100 MT were down 33 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to Mexico (389,400 MT), Japan (320,400 MT, including 50,100 MT - late), China (138,200 MT), Colombia (132,500 MT), and South Korea (69,400 MT). |
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Comments and Performance Indicators |
Export commitments are 34.4% behind a year-ago compared to 34.6% behind last week. USDA projects exports in 2022-23 at 1.850 billion bu., 25.1% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2022-23: 26,300 |
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Expectations (in MT) |
2022-23: 75,000-300,000 |
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Weekly Sales Details |
Net sales of 26,300 metric tons (MT) for 2022/2023--a marketing-year low--were down 88 percent from the previous week and 86 percent from the prior 4-week average. Increases primarily for unknown destinations (17,000 MT), Mexico (10,500 MT, including decreases of 800 MT), Venezuela (5,000 MT), El Salvador (1,400 MT), and Japan (900 MT), were offset by reductions for Honduras (6,000 MT), Guatemala (1,400 MT), Ecuador (1,200 MT), Costa Rica (700 MT), and South Korea (300 MT). Net sales of 333,600 MT for 2023/2024 were primarily for the Philippines (139,000 MT), Mexico (91,100 MT), unknown destinations (50,000 MT), South Korea (30,000 MT), and Honduras (23,000 MT). |
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Weekly Export Details |
Exports of 204,000 MT were down 29 percent from the previous week and 24 percent from the prior 4-week average. The destinations were primarily to Mexico (119,400 MT), Japan (35,200 MT), Ecuador (28,800 MT), Honduras (11,600 MT), and Costa Rica (8,300 MT). |
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Comments and Performance Indicators |
Export commitments are running 2.6% behind a year-ago, compared to 2.6% behind last week. USDA projects exports in 2022-23 at 775 million bu., down 3.1% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2022-23: 62,200 |
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Expectations (in MT) |
2022-23: 150,000-500,000 |
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Weekly Sales Details |
Net sales of 62,200 MT for 2022/2023 were down 79 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Indonesia (88,800 MT, including 68,000 MT switched from unknown destinations), the Netherlands (57,700 MT, including 62,000 MT switched from unknown destinations and decreases of 4,300 MT), Japan (52,900 MT, including decreases of 3,100 MT), Colombia (4,700 MT), and Egypt (3,000 MT), were offset by reductions for unknown destinations (120,200 MT), Portugal (23,000 MT), and China (6,000 MT). Net sales of 50,100 MT for 2023/2024 were reported for Portugal (23,000 MT), Mexico (19,100 MT), and China (8,000 MT). |
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Weekly Export Details |
Exports of 411,000 MT were down 27 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to Indonesia (82,600 MT), Mexico (74,300 MT), China (72,300 MT), the Netherlands (57,700 MT), and Japan (42,400 MT). |
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Comments and Performance Indicators |
Export commitments are running 13.2% behind a year-ago, versus behind 13.0% last week. USDA projects exports in 2022-23 at 2.015 billion bu., down 6.6% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2022-23: 277,800 |
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Expectations |
2022-23: 50,000-300,000 |
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Weekly Sales Details |
Net sales of 277,800 MT for 2022/2023 were up 55 percent from the previous week and 52 percent from the prior 4-week average. Increases primarily for Vietnam (55,000 MT), Romania (40,000 MT), Canada (37,500 MT, including decreases of 7,500 MT), Algeria (35,000 MT), and Morocco (28,000 MT), were offset by reductions for Guatemala (5,800 MT), Costa Rica (1,700 MT), and Colombia (200 MT). Net sales reductions of 11,000 MT for 2023/2024 resulting in increases for Canada (1,000 MT), were more than offset by reductions for Ecuador (12,000 MT). |
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Weekly Export Details |
Exports of 188,100 MT were down 21 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to the Philippines (49,400 MT), Ecuador (32,000 MT), Mexico (31,000 MT), Canada (23,800 MT), and Colombia (12,200 MT). |
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Comments and Performance Indicators |
Export commitments are 0.5% behind a year-ago, compared to 1.5% behind a week ago. USDA projects exports in 2022-23 will increase 1.3% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2022-23: 300 |
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Expectations |
2022-23: 0-12,000 |
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Weekly Sales Details |
Total net sales of 300 MT for 2022/2023 were down 98 percent from the previous week and 92 percent from the prior 4-week average. Increases were for Canada. |
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Weekly Export Details |
Total net sales of 300 MT for 2022/2023 were down 98 percent from the previous week and 92 percent from the prior 4-week average. Increases were for Canada. |
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Comments and Performance Indicators |
Export commitments are running 82.3% behind a year-ago, compared to 82.0% behind last week. USDA projects exports will decrease 71.8% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2022-23: 246,800 |
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Net sales of 246,800 RB for 2022/2023 were up 7 percent from the previous week and 56 percent from the prior 4-week average. Increases primarily for China (106,200 RB, including 2,800 RB switched from Singapore), Vietnam (67,100 RB, including 2,000 RB switched from Macau, 200 RB switched from Japan, 100 RB switched from South Korea, and 100 RB switched from Taiwan), Bangladesh (36,000 RB), Turkey (17,600 RB, including decreases of 8,000 RB), and Pakistan (9,200 RB, including decreases of 1,500 RB), were offset by reductions for Singapore (2,800 RB), Macau (2,000 RB), and Indonesia (1,100 RB). Net sales of 12,800 RB for 2023/2024 reported for Nicaragua (4,400 RB), Peru (3,200 RB), Mexico (3,100 RB), and Turkey (2,200 RB), were offset by reductions for Japan (100 RB). Exports of 331,000 RB were down 20 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to China (88,900 RB), Turkey (75,200 RB), Vietnam (44,100 RB), Pakistan (30,000 RB), and Bangladesh (25,300 RB). Net sales of Pima totaling 15,200 RB for 2022/2023 were down 38 percent from the previous week and from the prior 4-week average. Increases were reported for India (12,200 RB), Vietnam (1,700 RB, including decreases of 1,300 RB), Djibouti (900 RB), and Pakistan (400 RB). |
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Weekly Export Details |
Exports of 20,300 RB were down 18 percent from the previous week, but up 14 percent from the prior 4-week average. The destinations were primarily to India (7,800 RB), China (7,100 RB), Vietnam (1,300 RB), Egypt (1,300 RB), and Turkey (1,000 RB). |
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Comments and Performance Indicators |
Export commitments are running 15.3% behind a year-ago, versus 16.2% behind last week. USDA forecasts total cotton exports will fall 16.6% from a year ago to 12.20 million bales in 2022-23. |
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Beef |
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Actual Sales (in MT) |
2023: 16,600 |
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Weekly Sales Details |
Net sales of 16,600 MT for 2023 were down 18 percent from the previous week, but up 16 percent from the prior 4-week average. Increases were primarily for South Korea (4,400 MT, including decreases of 400 MT), Japan (3,700 MT, including decreases of 400 MT), Canada (3,100 MT, including decreases of 200 MT), Mexico (2,100 MT), and Taiwan (1,000 MT, including decreases of 100 MT). |
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Weekly Export Details |
Exports of 14,800 MT were down 22 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to South Korea (4,300 MT), Japan (3,100 MT), China (2,100 MT), Canada (1,300 MT), and Mexico (1,300 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will fall 11.3% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2023: 30,000 |
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Weekly Sales Details |
Net sales of 30,000 MT for 2023 were down 39 percent from the previous week and 28 percent from the prior 4-week average. Increases were primarily for Japan (9,900 MT, including decreases of 100 MT), China (5,600 MT, including decreases of 100 MT), Mexico (5,500 MT, including decreases of 300 MT), the Philippines (1,700 MT), and South Korea (1,300 MT, including decreases of 500 MT). |
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Weekly Export Details |
Exports of 36,900 MT were down 4 percent from the previous week and unchanged from the prior 4-week average. The destinations were primarily to Mexico (13,900 MT), Japan (5,600 MT), China (5,400 MT), South Korea (2,700 MT), and Canada (2,000 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 0.6% from last year. |
