Corn, soybean and wheat export sales within expectations
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USDA Weekly Export Sales Report Week Ended Dec. 14, 2023 |
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Corn |
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Actual Sales (in MT) |
2023-24: 1,013,100 |
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Expectations (in MT) |
2023-24: 800,000-1,500,000 |
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Weekly Sales Details |
Net sales of 1,013,100 MT for 2023/2024 were down 29 percent from the previous week and 33 percent from the prior 4-week average. Increases primarily for Mexico (346,500 MT, including decreases of 1,000 MT), Japan (312,000 MT, including 71,100 MT switched from unknown destinations and decreases of 1,600 MT), China (136,300 MT, including 136,000 MT switched from unknown destinations and decreases of 1,800 MT), Colombia (99,500 MT, including 85,200 MT switched from unknown destinations and decreases of 48,000 MT), and Taiwan (70,100 MT), were offset by reductions for unknown destinations (32,200 MT). Total net sales of 1,000 MT for 2024/2025 were for Colombia. |
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Weekly Export Details |
Exports of 870,900 MT were up 2 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to Mexico (355,000 MT), China (202,500 MT), Japan (184,600 MT), Colombia (61,800 MT), and El Salvador (20,100 MT). |
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Comments and Performance Indicators |
Export commitments are 36.5% ahead of a year-ago, compared to 32.7% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2023-24: 322,700 |
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Expectations (in MT) |
2023-24: 200,000-600,000 |
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Weekly Sales Details |
Net sales of 322,700 metric tons (MT) for 2023/2024 were down 78 percent from the previous week and 51 percent from the prior 4-week average. Increases primarily for Mexico (97,900 MT, including decreases of 2,000 MT), Japan (69,900 MT), Indonesia (58,900 MT, including 8,900 MT switched from unknown destinations and decreases of 10,000 MT), Algeria (53,100 MT, including 20,000 MT switched from unknown destinations), and South Korea (21,200 MT), were offset by reductions for unknown destinations (47,000 MT) and Costa Rica (100 MT). Total net sales of 3,200 MT for 2024/2025 were for Trinidad and Tobago. |
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Weekly Export Details |
Exports of 337,400 MT were up 17 percent from the previous week and 20 percent from the prior 4-week average. The destinations were primarily to Mexico (98,500 MT), Japan (53,700 MT), Algeria (45,100 MT), Taiwan (27,000 MT), and South Korea (20,900 MT). |
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Comments and Performance Indicators |
Export commitments are running 2.6% ahead of year-ago, compared to 1.4% ahead last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2023-24: 1,989,400 |
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Expectations (in MT) |
2023-24: 1,500,000-2,500,000 |
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Weekly Sales Details |
Net sales of 1,989,400 MT for 2023/2024 were up 84 percent from the previous week and 51 percent from the prior 4-week average. Increases primarily for unknown destinations (785,500 MT), China (700,400 MT, including 134,000 MT switched from unknown destinations and decreases of 2,300 MT), Spain (191,000 MT, including 187,000 MT switched from unknown destinations and decreases of 7,100 MT), Indonesia (75,800 MT, including 55,000 MT switched from unknown destinations), and the Netherlands (69,200 MT, including 65,000 MT switched from unknown destinations), were offset by reductions primarily for Costa Rica (2,000 MT). Net sales of 144,000 MT for 2024/2025 were reported for unknown destinations (125,000 MT) and Japan (19,000 MT). |
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Weekly Export Details |
Exports of 1,329,100 MT were up 15 percent from the previous week, but down 3 percent from the prior 4-week average. The destinations were primarily to China (572,100 MT), Spain (191,000 MT), Japan (130,500 MT), Mexico (110,800 MT), and Indonesia (78,900 MT). |
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Comments and Performance Indicators |
Export commitments are running 16.5% behind a year-ago, compared to 21.4% behind last week. USDA projects exports in 2023-24 at 1.755 billion bu., down 10.9% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2023-24: 147,800 |
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Expectations |
2023-24: 175,000-400,000 |
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Weekly Sales Details |
Net sales of 147,800 MT for 2023/2024 were down 55 percent from the previous week and 16 percent from the prior 4-week average. Increases primarily for Mexico (111,500 MT), Portugal (12,900 MT, including 12,000 MT switched from unknown destinations), Sri Lanka (11,300 MT), the Philippines (9,300 MT, including decreases of 1,200 MT), and Guatemala (5,600 MT), were offset by reductions for Colombia (18,200 MT), unknown destinations (9,000 MT), Costa Rica (3,500 MT), Belgium (2,300 MT), and Ireland (300 MT). |
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Weekly Export Details |
Exports of 258,800 MT were down 20 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to the Philippines (59,700 MT), Canada (24,000 MT), Ireland (23,700 MT), Mexico (22,100 MT), and Costa Rica (16,600 MT). |
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Comments and Performance Indicators |
Export commitments are 16.1% ahead of a year-ago, compared to 34.9% ahead last week. USDA projects exports in 2022-23 will increase 4.3% from the previous marketing year in 2023-24. |
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Soyoil |
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Actual Sales (in MT) |
2023-24: 3,100 |
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Expectations |
2023-24: (5,000)-10,000 |
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Weekly Sales Details |
Total net sales of 3,100 MT for 2023/2024 were up noticeably from the previous week, but down noticeably from the prior 4-week average. The destination was Canada. |
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Weekly Export Details |
Exports of 300 MT--a marketing-year low--were down 9 percent from the previous week and 59 percent from the prior 4-week average. The destination was primarily Canada (200 MT). |
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Comments and Performance Indicators |
Export commitments are running in line with year-ago, compared to 12.0% behind last week. USDA projects exports will decrease 7.4% in 2023-24. |
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Cotton |
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Actual Upland Sales (in RB) |
2023-24: 146,700 |
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Net sales of 146,700 RB for 2023/2024 were up noticeably from the previous week, but down 18 percent from the prior 4-week average. Increases primarily for China (68,400 MT), Vietnam (45,100 RB), South Korea (19,600 RB), Guatemala (9,600 RB, including decreases of 400 RB), and Bangladesh (7,500 RB), were offset by reductions for the Philippines (8,800 RB), Pakistan (2,100 RB), Turkey (1,800 RB), and Mexico (1,200 RB). Total net sales of 1,300 RB for 2024/2025 were for Pakistan. Exports of 222,300 RB--a marketing-year high--were up 50 percent from the previous week and 96 percent from the prior 4-week average. The destinations were primarily to China (83,800 RB), Mexico (61,200 RB), Vietnam (25,500 RB), Turkey (12,700 RB), and Bangladesh (9,500 RB). Net sales of Pima totaling 5,300 RB for 2023/2024 were down 31 percent from the previous week, but up 43 percent from the prior 4-week average. Increases were primarily for China (3,600 RB), Vietnam (900 RB), and India (800 RB). |
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Weekly Export Details |
Exports of 5,500 RB were down 71 percent from the previous week and 37 percent from the prior 4-week average. The destinations were primarily to China (2,200 RB), Vietnam (900 RB), India (900 RB), Peru (700 RB), and Pakistan (400 RB). |
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Comments and Performance Indicators |
Upland cotton export commitments are running 6.2% behind a year-ago, compared to 7.5% behind last week. USDA forecasts total cotton exports will fall 4.5% from a year ago to 12.20 million bales in 2023-24. |
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Beef |
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Actual Sales (in MT) |
2023: 9,700 |
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Weekly Sales Details |
Net sales of 9,700 MT for 2023 were down 8 percent from the previous week, but up 44 percent from the prior 4-week average. Increases primarily for South Korea (4,200 MT, including decreases of 900 MT), Japan (2,600 MT, including decreases of 600 MT), Mexico (1,100 MT, including decreases of 200 MT), Canada (600 MT), and China (400 MT, including decreases of 700 MT), were offset by reductions for Hong Kong (200 MT). Net sales of 6,400 MT for 2024 were primarily for Japan (3,500 MT), Mexico (1,000 MT), China (800 MT), Hong Kong (300 MT), and Taiwan (300 MT). |
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Weekly Export Details |
Exports of 16,900 MT were up 17 percent from the previous week and 20 percent from the prior 4-week average. The destinations were primarily to South Korea (4,600 MT), Japan (3,800 MT), China (2,300 MT), Mexico (2,100 MT), and Canada (1,200 MT). |
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Comments and Performance Indicators |
USDA projects 2023 exports will fall 14.5% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2023: 37,500 |
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Weekly Sales Details |
Net sales of 37,500 MT for 2023 were up 33 percent from the previous week and 48 percent from the prior 4-week average. Increases primarily for Mexico (15,900 MT, including decreases of 200 MT), South Korea (7,000 MT, including decreases of 2,400 MT), Canada (3,200 MT, including decreases of 700 MT), Japan (3,000 MT, including decreases of 1,200 MT), and China (2,800 MT, including decreases of 200 MT), were offset by reductions for the Philippines (100 MT), Vietnam (100 MT), and Hong Kong (100 MT). Net sales of 25,500 MT for 2024 were primarily for China (11,000 MT), Mexico (4,700 MT), South Korea (3,400 MT), Japan (2,600 MT), and Australia (900 MT). |
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Weekly Export Details |
Exports of 40,500 MT--a marketing-year high--were up 12 percent from the previous week and 26 percent from the prior 4-week average. The destinations were primarily to Mexico (12,500 MT), South Korea (11,900 MT), Japan (3,900 MT), China (3,300 MT), and Canada (2,100 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 6.4% from last year. |
