Solid Weekly Corn, Soybean Export Sales; Wheat Sales Still Uninspiring

Posted on 08/09/2018 7:58 AM

 

USDA Weekly Export Sales Report

Week Ended Aug. 2, 2018

Corn

Actual Sales (in MT)

Combined: 1,212,200
2017-18: 554,500
2018-19: 657,700

Expectations (in MT)

 2017-18: 300,000-600,000
 2018-19: 400,000-900,000

Weekly Sales Details

Net sales of 554,500 MT for 2017-18 were up 90% from the previous week and 33% from the prior 4-week average.  Increases were reported for Mexico (151,100 MT, including 26,000 MT switched from unknown destinations and decreases of 11,800 MT), South Korea (138,200 MT, including 133,000 MT switched from unknown destinations and decreases of 1,000 MT), Japan (93,000 MT, including 94,000 MT switched from unknown destinations and decreases of 9,600 MT), Peru (65,600 MT, including 32,000 MT switched from unknown destinations), and Colombia (60,100 MT, including 65,000 MT switched from unknown destinations and decreases of 30,000 MT).  Reductions were primarily for Spain (106,200 MT) and unknown destinations (51,500 MT).  For 2018-19, net sales of 657,700 MT were reported for unknown destinations (299,100 MT), Japan (85,000 MT), Mexico (73,500 MT), and South Korea (67,000 MT).  

Weekly Export Details

Exports of 1,428,800 MT were down 12% from the previous week, but up 2% from the prior 4-week average.  The destinations were primarily to Japan (436,200 MT), Mexico (348,000 MT), South Korea (198,200 MT), Colombia (67,600 MT), and Peru (64,200 MT). 

Comments and Performance Indicators

Export commitments for the 2017-18 marketing year are running 6% ahead of year-ago, which compares to 5% ahead of year-ago the week prior. USDA projects exports in 2017-18 at 2.400 billion bu., up 4.6% from the previous marketing year.

Wheat

Actual Sales (in MT)

2018-19: 317,100

Expectations (in MT)

2018-19: 200,000-500,000

Weekly Sales Details

Net sales of 317,100 MT for 2018-19 were down 17% from the previous week, but up 5% from the prior 4-week average.  Increases were reported for Japan (76,500 MT, including decreases of 1,100 MT), Indonesia (70,000 MT, switched from unknown destinations), the Philippines (59,000 MT, including 28,000 MT switched from unknown destinations and decreases of 4,000 MT), Chile (52,400 MT, including 37,500 MT switched from unknown destinations and decreases of 100 MT).  Reductions were reported for unknown destinations (156,500 MT) and Honduras (300 MT). 

Weekly Export Details

Exports of 344,900 MT were down 11% from the previous week and 9% from the prior 4-week average.  The destinations were primarily to the Philippines (55,000 MT), Guatemala (49,300 MT), Mexico (46,100 MT), Taiwan (43,300 MT), and Chile (37,400 MT). 

Comments and Performance Indicators

Export commitments are running 29% behind year-ago versus 28% behind last week. USDA projects exports in 2018-19 at 975 million bu., up 8.2% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 954,300
 2017-18: 421,800
 2018-19: 532,500

Expectations (in MT)

 2017-18: 100,000-400,000
 2018-19: 300,000-600,000

Weekly Sales Details

Net sales of 421,800 MT for 2017-18 were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for the Netherlands (165,300 MT, including 142,000 MT switched from unknown destinations), Egypt (111,500 MT, including 55,000 MT switched from unknown destinations), Spain (96,800 MT, including 95,000 MT switched from unknown destinations), Indonesia (80,200 MT, including decreases of 300 MT), and South Korea (72,500 MT).  Reductions were for unknown destinations (543,500 MT) and China (74,400 MT).  For 2018-19, net sales of 532,500 MT were reported for Pakistan (123,500 MT), unknown destinations (88,200 MT), Egypt (80,000 MT), and Switzerland (60,000 MT). 

Weekly Export Details

 Exports of 1,014,600 MT were up 19% from the previous week and 44% from the prior 4-week average.  The destinations included the Netherlands (165,300 MT), Spain (96,800 MT), Vietnam (75,800 MT), South Korea (72,500 MT), and China (67,200 MT). 

Comments and Performance Indicators

Export commitments are running 3% behind year-ago, versus 4% behind last week. USDA projects exports in 2017-18 at 2.085 billion bu., down 3.7% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 129,500
2017-18: 109,600
2018-19: 19,900

Expectations

 2017-18: 40,000-150,000
2018-19: 0-100,000

Weekly Sales Details

Net sales of 109,600 MT for 2017-18 were up 39% from the previous week and 6% from the prior 4-week average.  Increases were reported for Italy (85,100 MT, including 40,000 MT switched from unknown destinations and 39,600 MT switched from Spain), Colombia (35,500 MT, including 10,000 MT switched from unknown destinations), the Dominican Republic (24,900 MT), the Philippines (17,800 MT), and Canada (11,600 MT, including decreases of 100 MT).  Reductions were reported for Spain (39,600 MT), unknown destinations (36,000 MT), and Mexico (17,100 MT).  For 2018-19, net sales of 19,900 MT were primarily for Panama (13,500 MT), the Dominican Republic (3,200 MT), and the Philippines (2,000 MT).

Weekly Export Details

Exports of 255,600 MT were up 3% from the previous week and 7% from the prior 4-week average.  The primary destinations were Italy (85,100 MT), Mexico (45,900 MT), the Dominican Republic (20,200 MT), Canada (15,700 MT), and Indonesia (14,000 MT).

 

Comments and Performance Indicators

Export commitments for 2017-18 are running 19% ahead of year-ago, which compares with 18% ahead last week. USDA projects exports in 2017-18 to be up 16.6% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 10,900
2017-18: 10,900
2018-19: 0

Expectations

2017-18: 8,000-24,000
2018-19: 0-10,000

Weekly Sales Details

Net sales of 10,900 MT for 2017-18 were down 23% from the previous week and 9% from the prior 4-week average.  Increases were primarily for Peru (5,900 MT), Jamaica (3,500 MT), Mexico (2,700 MT, including decreases of 100 MT), and Colombia (2,300 MT, including decreases of 200 MT).  Reductions were reported for South Korea (6,000 MT)

Weekly Export Details

Exports of 22,200 MT were up 21% from the previous week and from the prior 4-week average.  The primary destinations were Peru (18,400 MT), and Mexico (3,500 MT).

Comments and Performance Indicators

Export commitments for the 2017-18 marketing year are running 5% behind year-ago versus 4% behind the week prior. USDA projects exports in 2017-18 to be down 4.1% from the previous year.

Cotton

Actual Sales (in RB)

2018-19: 176,600

Weekly Sales Details

Net sales for 2018-19, which began Aug. 1, totaled 176,600 RB.  Increases reported for Vietnam (93,800 RB, including 30,900 RB switched from China and decreases of 8,200 RB), Thailand (24,500 RB, including 100 RB switched from Japan), China (12,200 RB, including decreases of 7,900 RB), Turkey (12,100 RB), and Bangladesh (8,800 RB), were partially offset by reductions for Colombia (4,500 RB).  A total of 1,527,700 RB in sales were carried over from the 2017-18 marketing year, which ended July 31.  

Weekly Export Details

Exports for the period ending July 31 of 272,800 RB brought accumulated exports to 14,830,600 RB, up 7% from the prior years’ total of 13,823,100 RB.  The primary destinations were Vietnam (78,100 RB), China (50,200 RB), Turkey (36,200 RB), Indonesia (28,100 RB), and Bangladesh (15,500 RB).  Exports for August 1-2 totaled 43,100 RB, with Vietnam (12,000 RB), Mexico (6,900 RB), Indonesia (4,800 RB), Turkey (4,700 RB), and South Korea (4,700 RB) being the primary destinations.  

Comments and Performance Indicators

Export commitments for 2018-19 started the marketing year up 39% from 2017-18. USDA forecasts total cotton exports to fall 7.4% to 15.0 million bales.

Beef

Actual Sales (in MT)

2018: 14,600

Weekly Sales Details

Net sales of 14,600 MT for 2018 were down 10% from the previous week, but up 15% from the prior 4-week average.  Increases were primarily for Japan (6,100 MT, including decreases of 500 MT), South Korea (2,000 MT, including decreases of 400 MT), Hong Kong (2,000 MT, including decreases of 200 MT), Mexico (1,300 MT, including decreases of 100 MT), and Taiwan (1,000 MT, including decreases of 100 MT). 

Weekly Export Details

Exports of 18,300 MT were down 2% from the previous, but up 3% from the prior 4-week average.  The primary destinations were Japan (6,700 MT), South Korea (5,200 MT), Taiwan (1,800 MT), Mexico (1,700 MT), and Canada (1,100 MT).

Comments and Performance Indicators

Today's tally compares to net sales of 16,200 MT last week. USDA projects exports in 2018 to be up 7.3% from last year's total.

Pork

Actual Sales (in MT)

2018: 35,700

Weekly Sales Details

Net sales of 24,900 MT for 2018 were down 30% from the previous week, but up 16% from the prior 4-week average.  Increases were reported for Mexico (7,800 MT), South Korea (5,600 MT), Hong Kong (3,900 MT), Japan (2,200 MT), and Colombia (1,600 MT). 

Weekly Export Details

Exports of 13,600 MT were down 36% from the previous week and 29% from the prior 4-week average.  The primary destinations were Mexico (5,100 MT), Japan (2,500 MT), Canada (1,500 MT), Hong Kong (1,000 MT), and South Korea (1,000 MT).

Comments and Performance Indicators

Last week, USDA reported export sales of 35,700 MT for 2018. USDA projects exports in 2018 to be 6.4% above last year's total.

 

Add new comment