Weekly corn sales rise on the week; exports reach marketing-year high
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USDA Weekly Export Sales Report Week Ended Dec. 21, 2023 |
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Corn |
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Actual Sales (in MT) |
2023-24: 1,242,100 |
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Expectations (in MT) |
2023-24: 600,000-1,400,000 |
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Weekly Sales Details |
Net sales of 1,242,100 MT for 2023/2024 were up 23 percent from the previous week, but down 12 percent from the prior 4-week average. Increases primarily for Mexico (546,400 MT, including decreases of 26,300 MT), Colombia (168,200 MT, including 121,000 MT switched from unknown destinations), Japan (147,400 MT, including 47,500 MT switched from unknown destinations and decreases of 8,000 MT), Guatemala (80,300 MT, including 66,700 MT switched from Panama), and China (73,500 MT, including 68,000 MT switched from unknown destinations), were offset by reductions for Panama (39,200 MT). Total net sales of 11,200 MT for 2024/2025 were for Mexico. |
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Weekly Export Details |
Exports of 1,279,500 MT--a marketing-year high-- were up 47 percent from the previous week and 55 percent from the prior 4-week average. The destinations were primarily to Mexico (380,500 MT), Colombia (285,200 MT), Japan (154,900 MT), China (141,600 MT), and Saudi Arabia (72,800 MT). |
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Comments and Performance Indicators |
Export commitments are 37.3% ahead of a year-ago, compared to 36.5% 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: 276,400 |
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Expectations (in MT) |
2023-24: 200,000-600,000 |
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Weekly Sales Details |
Net sales of 276,400 metric tons (MT) for 2023/2024 were down 14 percent from the previous week and 60 percent from the prior 4-week average. Increases primarily for Mexico (133,000 MT), unknown destinations (64,500 MT), Thailand (38,300 MT, including decreases of 300 MT), South Korea (22,300 MT), and Algeria (20,800 MT, including 20,500 MT switched from unknown destinations), were offset by reductions primarily for Canada (13,900 MT), Indonesia (10,000 MT), Trinidad and Tobago (5,600 MT), Panama (5,400 MT), and Peru (2,300 MT). Net sales of 41,600 MT for 2024/2025 were reported for unknown destinations (36,000 MT) and Trinidad and Tobago (5,600 MT). |
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Weekly Export Details |
Exports of 342,000 MT were up 1 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to Japan (60,800 MT), Thailand (60,000 MT), South Korea (56,900 MT), Vietnam (41,700 MT), and Algeria (40,800 MT). |
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Comments and Performance Indicators |
Export commitments are running 14.1% ahead of year-ago, compared to 2.6% 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: 983,900 |
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Expectations (in MT) |
2023-24: 800,000-1,700,000 |
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Weekly Sales Details |
Net sales of 983,900 MT for 2023/2024 were down 51 percent from the previous week and 38 percent from the prior 4-week average. Increases primarily for China (576,800 MT, including 264,000 MT switched from unknown destinations and decreases of 10,000 MT), the Netherlands (134,300 MT, including 127,000 MT switched from unknown destinations), Indonesia (94,700 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), Mexico (93,800 MT, including decreases of 1,800 MT), and South Korea (62,300 MT, including 62,000 MT switched from unknown destinations and decreases of 1,200 MT), were offset by reductions for unknown destinations (178,500 MT) and Singapore (7,500 MT). |
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Weekly Export Details |
Exports of 1,216,000 MT were down 9 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to China (435,800 MT, including 71,500 MT - late), Japan (146,800 MT), Mexico (136,800 MT), the Netherlands (134,300 MT), and Indonesia (84,600 MT). |
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Comments and Performance Indicators |
Export commitments are running 15.3% behind a year-ago, compared to 16.5% 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: 268,500 |
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Expectations |
2023-24:100,000-300,000 |
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Weekly Sales Details |
Net sales of 268,500 MT for 2023/2024 were up 82 percent from the previous week and 66 percent from the prior 4-week average. Increases primarily for Mexico (74,600 MT), Colombia (57,000 MT, including decreases of 200 MT), Vietnam (55,900 MT, including 50,000 MT switched from unknown destinations), Morocco (34,500 MT), and Venezuela (25,700 MT, including 25,000 MT switched from Panama), were offset by reductions for unknown destinations (35,400 MT), Panama (8,700 MT), South Korea (200 MT), and Ecuador (100 MT). Total net sales of 100 MT for 2024/2025 were for Canada. |
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Weekly Export Details |
Exports of 296,000 MT were up 14 percent from the previous week, but down 3 percent from the prior 4-week average. The destinations were primarily to Vietnam (59,200 MT), Ecuador (51,500 MT), the Philippines (49,100 MT), Mexico (43,400 MT), and Venezuela (25,700 MT). |
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Comments and Performance Indicators |
Export commitments are 15.5% ahead of a year-ago, compared to 16.1% 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: 900 |
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Expectations |
2023-24: (5,000)-10,000 |
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Weekly Sales Details |
Total net sales of 900 MT for 2023/2024 were down 71 percent from the previous week, but up 45 percent from the prior 4-week average. The destination was Canada. |
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Weekly Export Details |
Exports of 300 MT were up 27 percent from the previous week, but down 39 percent from the prior 4-week average. The destination was Canada. |
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Comments and Performance Indicators |
Export commitments are running 11.7% behind a year-ago, compared to in line with a year ago 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: 369,900 |
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Net sales of 369,900 RB for 2023/2024 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for China (271,200 RB, including decreases of 11,400 RB), Vietnam (38,900 RB, including 100 RB switched from South Korea), Mexico (13,500 RB, including decreases of 100 RB), Turkey (11,400 RB), and Malaysia (8,300 RB), were offset by reductions for Honduras (1,800 RB) and South Korea (100 RB). Total net sales of 2,600 RB for 2024/2025 were for Mexico. |
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Weekly Export Details |
Exports of 231,000 RB--a marketing-year high--were up 4 percent from the previous week and 54 percent from the prior 4-week average. The destinations were primarily to China (145,100 RB), Vietnam (12,900 RB), Pakistan (10,200 RB), Indonesia (8,900 RB), and Bangladesh (7,900 RB). Net sales of Pima totaling 4,000 RB for 2023/2024 were down 26 percent from the previous week and 12 percent from the prior 4-week average. Increases were primarily for China (1,800 RB), Colombia (600 RB), Thailand (600 RB), India (500 RB), and Japan (200 RB). Exports of 3,500 RB were down 36 percent from the previous week and 62 percent from the prior 4-week average. The destinations were to China (1,700 RB), India (1,000 RB), Thailand (400 RB), Peru (300 RB), and Japan (100 RB). |
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Comments and Performance Indicators |
Upland cotton export commitments are running 2.9% behind a year-ago, compared to 6.2% 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: 2,100 |
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Weekly Sales Details |
Net sales of 2,100 MT for 2023 were down 78 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Japan (1,500 MT, including decreases of 800 MT), South Korea (400 MT, including decreases of 800 MT), Mexico (200 MT, including decreases of 100 MT), Italy (200 MT), and Egypt (100 MT), were offset by reductions for China (400 MT), Hong Kong (200 MT), and Taiwan (100 MT). Net sales of 11,600 MT for 2024 were primarily for South Korea (4,300 MT), China (2,600 MT), Japan (2,000 MT), Taiwan (900 MT), and Hong Kong (700 MT). |
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Weekly Export Details |
Exports of 13,200 MT were down 22 percent from the previous week and 9 percent from the prior 4- week average. The destinations were primarily to South Korea (4,600 MT), Japan (3,400 MT), Mexico (1,400 MT), China (1,300 MT), and Hong Kong (700 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: 23,800 |
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Weekly Sales Details |
Net sales of 23,800 MT for 2023 were down 23 percent from the previous week and 10 percent from the prior 4-week average. Increases primarily for Mexico (13,300 MT, including decreases of 300 MT), Japan (6,500 MT, including decreases of 800 MT), Australia (3,000 MT, including decreases of 600 MT), Canada (1,100 MT, including decreases of 500 MT), and the Dominican Republic (700 MT, including decreases of 200 MT), were offset by reductions primarily for Nicaragua (1,100 MT) and South Korea (900 MT). Net sales of 24,000 MT for 2024 were primarily for Mexico (8,600 MT), South Korea (3,600 MT), Japan (2,700 MT), Canada (2,400 MT), and China (2,200 MT). |
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Weekly Export Details |
Exports of 28,900 MT were down 14 percent from the previous week and 11 percent from the prior 4- week average. The destinations were primarily to Mexico (11,400 MT), South Korea (3,500 MT), Japan (3,500 MT), China (3,200 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. |
