Weekly Corn Export Sales Lighter Than Expected

Posted on 09/13/2018 7:51 AM

 

USDA Weekly Export Sales Report

Week Ended Sept. 6, 2018

Corn

Actual Sales (in MT)

2018-19: 774,200

Expectations (in MT)

 2018-19: 800,000-1,200,000

Weekly Sales Details

Net sales for the 2018/2019 marketing year, which began September 1, totaled 774,200 MT.  Increases were reported for Mexico (218,400 MT, including decreases of 27,900 MT), Colombia (166,600 MT, including 54,800 MT switched from unknown destinations), Japan (128,300 MT, including decreases of 3,100 MT), Peru (113,000 MT, including 50,000 MT switched from unknown destinations and decreases of 1,000 MT), and Taiwan (38,900 MT, including 35,000 MT switched from unknown destinations).  

A total of 2,926,200 MT in sales were carried over from the 2017/2018 marketing year, which ended Aug 31.  Exports for the period ending Aug 31 of 264,300 MT brought accumulated exports to 57,473,700 MT, up 4 percent from the prior year’s total of 55,394,800 MT.  The primary destinations were Colombia (104,900 MT), Mexico (50,100 MT), Peru (45,200 MT), Guatemala (25,400 MT), and El Salvador (11,700 MT).  

Weekly Export Details

Exports for September 1-6 totaled 727,200 MT, with Japan (243,700 MT) and Mexico (226,700 MT) being the primary destinations.

Comments and Performance Indicators

Export commitments are running 44% ahead of year-ago levels to kick off the 2018-19 marketing year. USDA projects exports in 2018-18 at 2.400 billion bu., down 1.0% from the previous marketing year.

Wheat

Actual Sales (in MT)

2018-19: 387,600

Expectations (in MT)

2018-19: 300,000-500,000

Weekly Sales Details

Net sales of 387,600 MT for 2018/2019 were up 2 percent from the previous week, but down 16 percent from the prior 4-week average. Increases were reported for Taiwan (112,500 MT), Mexico (37,000 MT, including decreases of 7,000 MT), Italy (31,700 MT), Nigeria (31,400 MT), and Algeria (30,000 MT).  Reductions were for unknown destinations (75,700 MT). 

Weekly Export Details

Exports of 429,100 MT were up 50 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to Sri Lanka (65,700 MT), Thailand (55,100 MT), Nigeria (46,400 MT), Japan (45,700 MT), and Taiwan (42,400 MT).

Comments and Performance Indicators

Export commitments are running 24% behind year-ago versus 25% behind last week. USDA projects exports in 2018-19 at 1.025 billion bu., up 13.8% from the previous marketing year

Soybeans

Actual Sales (in MT)

2018-19: 693,500

Expectations (in MT)

2018-19: 500,000-1,000,000

Weekly Sales Details

Net sales for the 2018/2019 marketing year, which began September 1, totaled 693,500 MT.  Increases were reported for Egypt (196,300 MT, including 66,000 MT switched from unknown destinations and 60,000 MT switched from Iran), Japan (87,000 MT, including 63,000 MT switched from unknown destinations and decreases of 1,700 MT), Iran (76,200 MT), the Netherlands (70,500 MT, including 66,000 MT switched from unknown destinations), and Pakistan (69,100 MT, including 65,000 MT switched from unknown destinations).  Reductions were reported for unknown destinations (173,000 MT).  

A total of 2,430,900 MT in sales were carried over from the 2017/2018 marketing year, which ended Aug 31. 

Weekly Export Details

Exports for the period ending Aug 31 of 242,500 MT brought accumulated exports to 56,381,000 MT, down 3 percent from the prior year’s total of 58,117,600 MT.  The primary destinations were Germany (75,900 MT), China (66,000 MT), Portugal (50,000 MT), Colombia (17,300 MT), and Indonesia (10,500 MT).  Exports for September 1-6 totaled 895,800 MT, with Egypt (136,300 MT), Iran (136,200 MT), Japan (82,900 MT), the Netherlands (70,500 MT), and Vietnam (69,800 MT) being the primary destinations.

Comments and Performance Indicators

Export commitments are running steady with year-ago at the start of the 2018-19 marketing year. USDA projects exports in 2018-19 at 2.060 billion bu., down 3.3% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 222,200
2017-18: 34,900
2018-19: 188,300

Expectations

2017-18: 0-100,000
2018-19: 100,000-300,000

Weekly Sales Details

Net sales of 34,900 MT for 2017/2018 were down 50 percent from the previous week and 70 percent from the prior 4-week average.  Increases were reported for Colombia (19,400 MT, including 10,300 MT switched from unknown destinations), Mexico (11,500 MT), Canada (8,500 MT), Burma (3,000 MT), and the Philippines (2,400 MT, including decreases of 100 MT).  Reductions were reported for unknown destinations (10,400 MT) and the Dominican Republic (6,800 MT).  For 2018/2019, net sales of 188,300 MT reported for Ecuador (60,000 MT), Mexico (41,100 MT), Colombia (33,400 MT), and unknown destinations (13,200 MT), were partially offset by reductions for Guatemala (400 MT). 

Weekly Export Details

Exports of 206,300 MT were up 24 percent from the previous week and 1 percent from the prior 4-week average.  The primary destinations were the Philippines (50,600 MT), Mexico (45,300 MT), Colombia (31,000 MT), Guatemala (21,600 MT), and Canada (21,200 MT). 

 

Comments and Performance Indicators

Export commitments for 2017-18 are running 19% ahead of year-ago, which compares with 20% ahead last week. USDA projects exports in 2017-18 to be up 24.4% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 9,900
2017-18: 4,700
2018-19: 5,200

Expectations

2017-18: 0-15,000
2018-19: 0-20,000

Weekly Sales Details

Net sales of 4,700 MT for 2017/2018 were up noticeably from the previous week, but down noticeably from the prior 4-week average.  Increases were reported for Jamaica (3,500 MT), Mexico (500 MT), and the Dominican Republic (500 MT).  For 2018/2019, net sales of 5,200 MT were reported for the Dominican Republic (2,700 MT) and Colombia (2,500 MT).

Weekly Export Details

Exports of 1,700 MT were down 96 percent from the previous week and 92 percent from the prior 4-week average.  The primary destination was Mexico (1,400 MT).

 

Comments and Performance Indicators

Export commitments for the 2017-18 marketing year are running 6% behind year-ago versus 6% behind the week prior. USDA projects exports in 2017-18 to be down 4.1% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 99,400
2018-19: 81,700
2019-20: 17,700

Weekly Sales Details

Net sales of 81,700 RB for 2018/2019 were down 11 percent from the previous week and 36 percent from the prior 4-week average.  Increases were reported for Mexico (22,300 RB), Indonesia (13,800 RB, including decreases of 100 RB), Vietnam (13,500 RB, including 1,500 RB switched from Hong Kong and 900 RB switched from Taiwan), and Taiwan (10,500 RB).  Reductions were reported for Japan (3,800 RB), Hong Kong (1,500 RB), and China (1,300 RB).  For 2019/2020, net sales of 17,700 RB were reported for Thailand (8,400 RB), Mexico (7,100 RB), and Indonesia (2,200 RB).  Exports of 135,700 RB were down 24 percent from the previous week and 27 percent from the prior 4-week average. 

Weekly Export Details

Exports were reported primarily to Vietnam (33,300 RB), Pakistan (17,400 RB), Mexico (17,200 RB), China (16,500 RB), and Indonesia (15,400 RB).

Comments and Performance Indicators

Export commitments for 2018-19 are running 30% ahead of year-ago levels compared with 30% ahead last week. USDA forecasts total cotton exports to fall 0.9% to 15.7 million bales this marketing year.

Beef

Actual Sales (in MT)

2018: 10,800

Weekly Sales Details

Net sales of 10,800 MT for 2018 were down 55 percent from the previous week and 50 percent from the prior 4-week average.  Increases were primarily for Japan (3,400 MT, including decreases of 600 MT), South Korea (2,000 MT, including decreases of 300 MT), Mexico (1,700 MT, including decreases of 100 MT), Hong Kong (1,100 MT, including decreases of 100 MT), and Taiwan (900 MT, including decreases of 100 MT). 

Weekly Export Details

Exports of 15,700 MT were down 8 percent from the previous week and 9 percent from the prior 4-week average.  The primary destinations were Japan (5,100 MT), South Korea (3,900 MT), Mexico (1,700 MT), Taiwan (1,400 MT), and Hong Kong (1,200 MT).

Comments and Performance Indicators

Today's tally compares to net sales of 24,000 MT last week. USDA projects exports in 2018 to be up 9.2% from last year's total.

Pork

Actual Sales (in MT)

Combined: 19,000
2018: 18,700
2019: 300

Weekly Sales Details

Net sales of 18,700 MT for 2018 were down 2 percent from the previous week and 26 percent from the prior 4-week average.  Increases were reported for South Korea (6,100 MT), Japan (3,400 MT), Mexico (2,500 MT), Hong Kong (1,900 MT), and Colombia (1,700 MT).  Reductions were reported for the Philippines (600 MT).  For 2019, net sales of 300 MT were reported for Colombia (200 MT) and New Zealand (100 MT).

Weekly Export Details

Exports of 18,700 MT were down 12 percent from the previous week and 11 percent from the prior 4-week average.  The primary destinations were Mexico (6,900 MT), Japan (3,000 MT), South Korea (2,600 MT), Canada (1,500 MT), and Hong Kong (1,400 MT).

Comments and Performance Indicators

Last week, USDA reported export sales of 21,900 MT for 2018 and 2019. USDA projects exports in 2018 to be 6.0% above last year's total.

 

Add new comment