Weekly soybean sales prove notable
|
USDA Weekly Export Sales Report Week Ended August 17, 2023 |
|
|
Corn |
|
|
Actual Sales (in MT) |
2022-23: (22,700) |
|
Expectations (in MT) |
2022-23: 0-250,000 |
|
Actual Sales (in MT) |
2023-24: 673,500 |
|
Expectations (in MT) |
2023-24: 200,000-750,000 |
|
Weekly Sales Details |
Net sales reductions of 22,700 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Japan (43,100 MT, including 34,600 MT switched from unknown destinations), Mexico (14,700 MT, including decreases of 300 MT), Guatemala (6,200 MT, including 7,000 MT switched from El Salvador and decreases of 800 MT), China (1,600 MT), and Honduras (1,200 MT, including decreases of 12,000 MT), were more than offset by reductions for Colombia (55,000 MT), unknown destinations (29,800 MT), and El Salvador (7,000 MT). Net sales of 673,500 MT for 2023/2024 primarily for Mexico (351,400 MT), unknown destinations (128,000 MT), Colombia (120,000 MT), Egypt (30,000 MT), and Canada (21,900 MT), were offset by reductions for Jamaica (1,500 MT). |
|
Weekly Export Details |
Exports of 496,500 MT were up 12 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Mexico (244,000 MT), Japan (86,400 MT), China (69,600 MT), Honduras (46,500 MT), and Canada (22,600 MT). |
|
Comments and Performance Indicators |
Export commitments are 33.5% behind a year-ago compared to 33.5% behind last week. USDA projects exports in 2022-23 at 1.625 billion bu., 34.3% below the previous marketing year. |
|
Wheat |
|
|
Actual Sales (in MT) |
2023-24: 406,000 |
|
Expectations (in MT) |
2023-24: 250,000-450,000 |
|
Weekly Sales Details |
Net sales of 406,000 metric tons (MT) for 2023/2024 were up 13 percent from the previous week and 3 percent from the prior 4-week average. Increases primarily for Chile (94,300 MT, including 25,000 MT switched from unknown destinations), South Korea (90,100 MT), the Philippines (71,500 MT), Mexico (52,900 MT, including decreases of 11,500 MT), and Yemen (50,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (76,000 MT), Guatemala (6,400 MT), and Panama (100 MT). |
|
Weekly Export Details |
Exports of 345,100 MT were up 50 percent from the previous week, but down 7 percent from the prior 4-week average. The destinations were primarily to Japan (100,200 MT, including 34,500 MT - late), Mexico (91,700 MT), South Korea (55,000 MT), Chile (27,300 MT), and Taiwan (22,200 MT). |
|
Comments and Performance Indicators |
Export commitments are running 18.6% behind a year-ago, compared to 23.2% behind last week. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year. |
|
Soybeans |
|
|
Actual Sales (in MT) |
2022-23: 364,900 |
|
Expectations (in MT) |
2022-23: 0-200,000 |
|
Actual Sales (in MT) |
2023-24: 1,218,200 |
|
Expectations (in MT) |
2023-24: 550,000-1,250,000 |
|
Weekly Sales Details |
Net sales of 364,900 MT for 2022/2023 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Increases primarily for Germany (142,200 MT), Spain (108,000 MT, including 105,000 MT switched from unknown destinations), the Netherlands (85,300 MT, including 80,000 MT switched from unknown destinations), China (15,000 MT), and Japan (11,500 MT), were offset by reductions for unknown destinations (14,400 MT) and the Philippines (400 MT). Net sales of 1,218,200 MT for 2023/2024 were primarily for unknown destinations (557,200 MT), China (415,000 MT), Mexico (177,500 MT), Taiwan (25,100 MT), and Canada (19,500 MT). |
|
Weekly Export Details |
Exports of 449,200 MT were up 54 percent from the previous week and 40 percent from the prior 4-week average. The destinations were primarily to Germany (142,200 MT), Spain (108,000 MT), the Netherlands (85,300 MT), Mexico (54,900 MT), and Indonesia (16,400 MT). |
|
Comments and Performance Indicators |
Export commitments are running 10.2% behind a year-ago, versus behind 10.6% last week. USDA projects exports in 2022-23 at 1.980 billion bu., down 8.0% from the previous marketing year. |
|
Soymeal |
|
|
Actual Sales (in MT) |
2022-23: 71,400 |
|
Expectations |
2022-23: 75,000-200,000 |
|
Actual Sales (in MT) |
2023-24: 202,600 |
|
Expectations |
2023-24: 100,000-250,000 |
|
Weekly Sales Details |
Net sales of 71,400 MT for 2022/2023 were down 44 percent from the previous week and 52 percent from the prior 4-week average. Increases primarily for Colombia (40,500 MT, including 26,300 MT switched from unknown destinations and decreases of 4,100 MT), Venezuela (27,800 MT, including 25,500 MT switched from unknown destinations), Morocco (15,000 MT), Honduras (10,600 MT, including 6,000 MT switched from Guatemala, 4,300 switched from El Salvador, and decreases of 6,200 MT) and Ireland (9,000 MT), were offset by reductions primarily for unknown destinations (52,000 MT) and El Salvador (10,800 MT). Net sales of 202,600 MT for 2023/2024 were primarily for Canada (62,900 MT), Mexico (41,400 MT), unknown destinations (30,000 MT), Ecuador (26,000 MT), and Honduras (17,500 MT). |
|
Weekly Export Details fade lackluster |
Exports of 245,500 MT were up 28 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Colombia (68,300 MT), the Philippines (47,900 MT), Venezuela (27,800 MT), Israel (25,400 MT), and Canada (24,000 MT). |
|
Comments and Performance Indicators |
Export commitments are 8.3% ahead of a year-ago, compared to 7.7% ahead a week ago. USDA projects exports in 2022-23 will increase 4.9% from the previous marketing year. |
|
Soyoil |
|
|
Actual Sales (in MT) |
2022-23: 1,800 |
|
Expectations |
2022-23: 0-10,000 |
|
Actual Sales (in MT) |
2023-24: 0 |
|
Expectations |
2023-24: 0-10,000 |
|
Weekly Sales Details |
Net sales of 1,800 MT for 2022/2023 were up noticeably from the previous week and up 64 percent from the prior 4-week average. Increases for Mexico (2,000 MT), were offset by reductions for Canada (200 MT). |
|
Weekly Export Details |
Exports of 900 MT were up 54 percent from the previous week, but down 75 percent from the prior 4-week average. The destinations were to Canada (600 MT) and Mexico (300 MT). |
|
Comments and Performance Indicators |
Export commitments are running 81.3% behind a year-ago, compared to 81.6% behind last week. USDA projects exports will decrease 77.4% this season. |
|
Cotton |
|
|
Actual Upland Sales (in RB) |
2023-24: 38,900 |
|
Net sales of 38,900 RB for 2023/2024 primarily for China (31,700 RB, including 700 RB switched from Macau and decreases of 800 RB), Vietnam (10,800 RB, including 500 RB switched from South Korea and decreases of 100 RB), Bangladesh (5,100 RB), Honduras (3,000 RB), and Costa Rica (2,200 RB), were offset by reductions for Pakistan (14,200 RB), Turkey (2,100 RB), Macau (700 RB), and South Korea (100 RB). Net sales of 52,800 RB for 2024/2025 were reported for Malaysia (26,400 RB), Pakistan (22,000 RB), and Mexico (4,400 RB). |
|
|
Weekly Export Details |
Exports of 204,200 RB were primarily to China (112,000 RB), Pakistan (30,300 RB), Vietnam (15,300 RB), Bangladesh (8,200 RB), and Mexico (6,900 RB). Net sales of Pima totaling 1,300 RB for 2023/2024 reported for Thailand (1,100 RB), Vietnam (900 RB switched from Hong Kong), China (100 RB), and Indonesia (100 RB), were offset by reductions for Hong Kong (900 RB). Exports of 9,600 RB were primarily to Vietnam (5,300 RB), India (2,800 RB), Egypt (900 RB), China (400 RB), and Guatemala (100 RB). |
|
Comments and Performance Indicators |
Export commitments are running 52.3% behind a year-ago vs. 30.4% behind a week ago. USDA forecasts total cotton exports will fall 1.3% from a year ago to 14.65 million bales in 2023-24. |
|
Beef |
|
|
Actual Sales (in MT) |
2023: 11,400 |
|
Weekly Sales Details |
Net sales of 11,400 MT for 2023 were down 25 percent from the previous week and 28 percent from the prior 4-week average. Increases primarily for South Korea (4,200 MT, including decreases of 200 MT), Japan (2,300 MT, including decreases of 100 MT), Hong Kong (1,300 MT, including decreases of 100 MT), China (1,000 MT), and Mexico (800 MT, including decreases of 100 MT), were offset by reductions for Chile (200 MT). |
|
Weekly Export Details |
Exports of 11,800 MT were down 25 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to South Korea (3,000 MT), Japan (2,500 MT), Mexico (1,600 MT), China (1,400 MT), and Canada (1,100 MT). |
|
Comments and Performance Indicators |
USDA projects 2023 exports will fall 9.3% from a year ago. |
|
Pork |
|
|
Actual Sales (in MT) |
2023: 33,000 |
|
Weekly Sales Details |
Net sales of 33,000 MT for 2023 were up 15 percent from the previous week and 40 percent from the prior 4-week average. Increases were primarily for Mexico (18,000 MT, including decreases of 100 MT), South Korea (5,800 MT, including decreases of 500 MT), Colombia (3,300 MT), Japan (1,800 MT), and Canada (1,300 MT). Total net sales of 100 MT for 2024 were for Chile. |
|
Weekly Export Details |
Exports of 25,200 MT were down 12 percent from the previous week and 5 percent from the prior 4-week average. The destinations were primarily to Mexico (12,100 MT), China (3,100 MT), South Korea (2,300 MT), Japan (1,900 MT), and Canada (1,500 MT). |
|
Comments and Performance Indicators |
USDA projects exports in 2023 will rise 9.2% from last year. |
