New crop weekly corn, soybean sales prove solid
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USDA Weekly Export Sales Report Week Ended August 31, 2023 |
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Corn |
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Actual Sales (in MT) |
2022-23: (15,200) |
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Expectations (in MT) |
2022-23: (200,000)-100,000 |
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Actual Sales (in MT) |
2023-24: 949,700 |
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Expectations (in MT) |
2023-24: 400,000-1,000,000 |
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Weekly Sales Details |
Net sales of 949,700 MT for 2023/2024 marketing year which began September 1, were primarily for Mexico (426,700 MT), unknown destinations (164,900 MT), Colombia (97,700 MT, including decreases of 200 MT), China (76,000 MT), and Honduras (58,800 MT, including decreases of 37,200 MT). A total reduction of 15,200 MT in sales were carried over from the 2022/2023 marketing year, which ended August 31. |
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Weekly Export Details |
Exports for the period ending August 31- September 1 of 515,000 MT brought accumulated exports to 39,469,100 MT, down 34 percent from the prior year’s total of 59,763,700 MT. The primary destinations were to Mexico (279,300 MT), Colombia (133,700 MT), Japan (53,000 MT), Jamaica (18,000 MT), and Ireland (16,500 MT). |
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Comments and Performance Indicators |
Export commitments are 33.3% behind a year-ago. USDA projects exports in 2022-23 at 1.625 billion bu., 34.3% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2023-24: 370,300 |
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Expectations (in MT) |
2023-24: 250,000-600,000 |
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Weekly Sales Details |
Net sales of 370,300 metric tons (MT) for 2023/2024 were up 13 percent from the previous week, but down 11 percent from the prior 4-week average. Increases were primarily for Taiwan (106,400 MT), Indonesia (76,000 MT), unknown destinations (71,700 MT), Mexico (45,900 MT, including decreases of 200 MT), and South Korea (20,500 MT, including decreases of 1,500 MT). Total net sales of 11,200 MT for 2024/2025 were for Mexico. |
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Weekly Export Details |
Exports of 316,600 MT were down 11 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Indonesia (74,000 MT), Thailand (58,000 MT), Mexico (52,700 MT), Taiwan (52,400 MT), and Peru (33,000 MT). |
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Comments and Performance Indicators |
Export commitments are running 21.3% behind a year-ago. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2022-23: 155,600 |
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Expectations (in MT) |
2022-23: (200,000)-0 |
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Actual Sales (in MT) |
2023-24: 1,783,100 |
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Expectations (in MT) |
2023-24: 1,400,000-2,000,000 |
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Weekly Sales Details |
Net sales of 1,783,100 MT for 2023/2024 marketing year which began September 1, were primarily for unknown destinations (863,900 MT), China (735,200 MT), Japan (88,200 MT), Indonesia (53,600 MT), and Taiwan (19,800 MT). A total of 155,600 MT in sales were carried over from the 2022/2023 marketing year, which ended August 31. |
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Weekly Export Details |
Exports for the period ending August 31- September 1 of 514,200 MT brought accumulated exports to 52,207,500 MT, down 9 percent from the prior year’s total of 57,188,800 MT. The primary destinations were to Germany (143,500 MT), China (143,100 MT), the Netherlands (67,100 MT), Japan (48,700 MT), and Spain (38,500 MT). |
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Comments and Performance Indicators |
Export commitments are running 10.5% behind a year-ago. USDA projects exports in 2022-23 at 1.980 billion bu., down 8.0% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2022-23: 297,100 |
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Expectations |
2022-23: 0-250,000 |
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Actual Sales (in MT) |
2023-24: 143,100 |
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Expectations |
2023-24: 200,000-400,000 |
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Weekly Sales Details |
Net sales of 297,100 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for unknown destinations (145,000 MT), Ireland (60,000 MT), Portugal (20,800 MT, including 20,000 MT switched from unknown destinations), Honduras (18,700 MT, including decreases of 3,200 MT), and Mexico (11,600 MT, including decreases of 100 MT), were offset by reductions for Guatemala (14,300 MT), Vietnam (4,600 MT), Senegal (400 MT), Spain (400 MT), and Kuwait (100 MT). Net sales of 143,100 MT for 2023/2024 primarily for Canada (45,400 MT), Mexico (28,500 MT), Honduras (18,700 MT), Guatemala (14,900 MT), and Vietnam (12,700 MT), were offset by reductions for Panama (5,500 MT). |
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Weekly Export Details fade lackluster |
Exports of 237,900 MT were up 5 percent from the previous week and 8 percent from the prior 4- week average. The destinations were primarily to the Philippines (50,700 MT), Mexico (27,500 MT), Ecuador (26,700 MT), Canada (23,100 MT), and Portugal (20,800 MT). |
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Comments and Performance Indicators |
Export commitments are 9% ahead of a year-ago. USDA projects exports in 2022-23 will increase 4.9% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2022-23: (900) |
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Expectations |
2022-23: (5,000)-10,000 |
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Actual Sales (in MT) |
2023-24: |
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Expectations |
2023-24: 0-10,000 |
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Weekly Sales Details |
Total net sales reductions of 900 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. Decreases were for Canada. |
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Weekly Export Details |
Exports of 2,500 MT were up noticeably from the previous week and from the prior 4- week average. The destination was primarily to Mexico (1,700 MT). |
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Comments and Performance Indicators |
Export commitments are running 81.3% behind a year-ago. USDA projects exports will decrease 77.4% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2023-24: 85,100 |
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Net sales of 85,100 RB for 2023/2024 primarily for Mexico (28,900 RB, including decreases of 2,400 RB), Costa Rica (22,400 RB), China (16,200 RB, including 300 RB switched from Macau and decreases of 3,900 RB), Vietnam (11,700 RB, including 500 RB switched from South Korea and decreases of 100 RB), and Thailand (4,800 RB), were offset by reductions primarily for Pakistan (4,400 RB), South Korea (600 RB), Macau (300 RB), Guatemala (200 RB), and Turkey (200 RB). Net sales of 6,600 RB for 2024/2025 reported for Pakistan (11,000 RB), were offset by reductions for Mexico (4,400 RB). |
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Weekly Export Details |
Exports of 175,400 RB were primarily to China (100,900 RB), Bangladesh (17,100 RB), Mexico (15,600 RB), Pakistan (9,600 RB), and Vietnam (9,200 RB). Net sales of Pima totaling 2,800 RB for 2023/2024 primarily for India (1,600 RB), the United Arab Emirates (900 RB), Thailand (300 RB switched from China), Germany (200 RB), and Colombia (100 RB), were offset by reductions for China (300 RB). Exports of 4,400 RB were primarily to India (2,500 RB), Egypt (1,100 RB), Thailand (300 RB), China (300 RB), and Malaysia (100 RB). |
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Comments and Performance Indicators |
Export commitments are running 2.1% ahead of a year-ago. USDA forecasts total cotton exports will fall 1.3% from a year ago to 14.65 million bales in 2023-24. |
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Beef |
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Actual Sales (in MT) |
2023: 11,900 |
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Weekly Sales Details |
Net sales of 11,900 MT for 2023 were down 34 percent from the previous week and 20 percent from the prior 4-week average. Increases were primarily for Japan (4,100 MT, including decreases of 400 MT), South Korea (2,100 MT, including decreases of 400 MT), China (1,600 MT, including decreases of 100 MT), Mexico (1,400 MT, including decreases of 100 MT), and Hong Kong (700 MT, including decreases of 200 MT). Net sales of 200 MT for 2024 were reported for Hong Kong (100 MT) and Taiwan (100 MT). |
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Weekly Export Details |
Exports of 14,600 MT were down 27 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to South Korea (3,600 MT), Japan (3,200 MT), China (2,200 MT), Mexico (1,900 MT), and Canada (1,000 MT). |
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Comments and Performance Indicators |
USDA projects 2023 exports will fall 9.3% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2023: 26,300 |
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Weekly Sales Details |
Net sales of 26,300 MT for 2023 were down 29 percent from the previous week and 13 percent from the prior 4-week average. Increases were primarily for Mexico (8,500 MT, including decreases of 200 MT), Japan (4,700 MT, including decreases of 200 MT), South Korea (3,300 MT, including decreases of 200 MT), Colombia (2,200 MT, including decreases of 100 MT), and Nicaragua (1,700 MT). Total net sales of 3,100 MT for 2024 were for South Korea. |
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Weekly Export Details |
Exports of 30,500 MT were down 2 percent from the previous week, but up 9 percent from the prior 4-week average. The destinations were primarily to Mexico (13,600 MT), China (3,900 MT), Japan (3,600 MT), Canada (2,500 MT), and South Korea (2,000 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 9.2% from last year. |
