Weekly, corn, soybean sales notch marketing-year low
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USDA Weekly Export Sales Report Week Ended Dec. 28, 2023 |
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Corn |
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Actual Sales (in MT) |
2023-24: 367,500 |
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Expectations (in MT) |
2023-24: 500,000-1,200,000 |
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Weekly Sales Details |
Net sales of 367,500 MT for 2023/2024--a marketing-year low--were down 70 percent from the previous week and from the prior 4-week average. Increases primarily for Mexico (171,100 MT, including 50,000 MT switched from unknown destinations and decreases of 113,600 MT), Colombia (165,300 MT, including 30,000 MT switched from unknown destinations and decreases of 7,800 MT), Japan (60,100 MT, including 51,600 MT switched from unknown destinations and decreases of 5,700 MT), Honduras (7,200 MT, including 7,500 MT switched from Guatemala and decreases of 500 MT), and the Dominican Republic (4,200 MT), were offset by reductions for Guatemala (24,000 MT), Nicaragua (12,100 MT), the French West Indies (6,100 MT), unknown destinations (1,600 MT), and Canada (100 MT). Net sales reductions 200 MT for 2024/2025 reported for Mexico (800 MT), were more than offset by reductions for Colombia (1,000 MT). |
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Weekly Export Details |
Exports of 681,500 MT were down 47 percent from the previous week and 33 percent from the prior 4-week average. The destinations were primarily to Mexico (263,400 MT), Japan (190,100 MT), Colombia (184,500 MT), Canada (22,000 MT), and Honduras (7,700 MT). |
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Comments and Performance Indicators |
Export commitments are % ahead of a year-ago, compared to 37.3% 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: 131,600 |
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Expectations (in MT) |
2023-24: 150,000-450,000 |
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Weekly Sales Details |
Net sales of 131,600 metric tons (MT) for 2023/2024 were down 52 percent from the previous week and 79 percent from the prior 4-week average. Increases primarily for China (65,800 MT, including 65,000 MT switched from unknown destinations), Mexico (37,400 MT, including decreases of 11,600 MT), Nigeria (13,000 MT), the Dominican Republic (10,900 MT), and South Korea (4,600 MT), were offset by reductions for unknown destinations (8,500 MT) and Spain (700 MT). Total net sales of 4,300 MT for 2024/2025 were for Mexico. |
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Weekly Export Details |
Exports of 285,900 MT were down 16 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to the Philippines (67,700 MT), China (65,800 MT), Mexico (57,100 MT), South Korea (56,600 MT), and Spain (20,800 MT). |
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Comments and Performance Indicators |
Export commitments are running % ahead of year-ago, compared to 14.1% 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: 201,600 |
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Expectations (in MT) |
2023-24: 500,000-1,300,000 |
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Weekly Sales Details |
Net sales of 201,600 MT for 2023/2024--a marketing-year low--were down 80 percent from the previous week and 85 percent from the prior 4-week average. Increases primarily for Spain (136,700 MT, including 124,900 MT switched from unknown destinations), the Netherlands (84,800 MT, including 77,000 MT switched from unknown destinations), China (71,600 MT, including decreases of 4,300 MT), Bangladesh (58,400 MT, including 55,000 MT switched from unknown destinations), and Mexico (39,700 MT, including decreases of 600 MT), were offset by reductions for unknown destinations (277,800 MT) and Hong Kong (1,000 MT). Total net sales of 600 MT for 2024/2025 were for Japan. |
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Weekly Export Details |
Exports of 1,000,600 MT were down 18 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to China |
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Comments and Performance Indicators |
Export commitments are running % behind a year-ago, compared to 15.3% 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: 81,400 |
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Expectations |
2023-24: 50,000-400,000 |
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Weekly Sales Details |
Net sales of 81,400 MT for 2023/2024 were down 70 percent from the previous week and 62 percent from the prior 4-week average. Increases primarily for Venezuela (40,000 MT, including 10,100 MT switched from Colombia and decreases of 2,200 MT), Mexico (38,000 MT), Canada (21,200 MT), the Dominican Republic (4,500 MT), and El Salvador (4,100 MT, including 3,800 MT switched from Guatemala), were offset by reductions primarily for Morocco (15,800 MT), unknown destinations (10,000 MT), China (5,000 MT), the French West Indies (3,500 MT), and Guatemala (3,100 MT). |
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Weekly Export Details |
Exports of 262,500 MT were down 11 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to the Philippines (48,300 MT), Guatemala (30,200 MT), Colombia (29,500 MT), the Dominican Republic (26,400 MT), and Venezuela (25,300 MT). |
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Comments and Performance Indicators |
Export commitments are % ahead of a year-ago, compared to 15.5% 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: 1,200 |
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Expectations |
2023-24: 0-10,000 |
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Weekly Sales Details |
Net sales of 1,200 MT for 2023/2024 were up 30 percent from the previous week and 77 percent from the prior 4-week average. Increases were primarily for Canada (900 MT). |
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Weekly Export Details |
Exports of 600 MT were up 67 percent from the previous week and 5 percent from the prior 4-week average. The destination was Canada. |
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Comments and Performance Indicators |
Export commitments are running % behind a year-ago, compared 11.7% behind 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: 131,100 |
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Net sales of 131,100 RB for 2023/2024 were down 65 percent from the previous week and 24 percent from the prior 4-week average. Increases primarily for China (50,700 RB, including decreases of 1,300 RB), Vietnam (31,800 RB, including 1,900 RB switched from Macau and 400 RB switched from Japan), Pakistan (25,600 RB), Bangladesh (10,800 RB), and Turkey (4,300 RB), were offset by reductions for Macau (1,900 RB). Exports of 213,200 RB were down 8 percent from the previous week, but up 15 percent from the prior 4-week average. The destinations were primarily to China (147,600 RB), Vietnam (12,800 RB), Pakistan (10,300 RB), Bangladesh (8,800 RB), and Indonesia (4,800 RB). Net sales of Pima totaling 2,100 RB for 2023/2024 were down 48 percent from the previous week and 59 percent from the prior 4-week average. Increases were reported for China (1,300 RB), Thailand (400 RB), Japan (200 RB), Malaysia (100 RB), and Bangladesh (100 RB). |
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Weekly Export Details |
Exports of 4,100 RB were up 16 percent from the previous week, but down 49 percent from the prior 4-week average. The destinations were to China (2,600 RB), Vietnam (800 RB), India (600 RB), and El Salvador (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: 9,500 |
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Weekly Sales Details |
Net sales of 9,500 MT for 2023 were up noticeably from the previous week and up 69 percent from the prior 4-week average. Increases primarily for China (3,200 MT, including decreases of 100 MT), Japan (2,200 MT, including decreases of 900 MT), Mexico (2,100 MT), Canada (900 MT), and South Korea (500 MT, including decreases of 1,100 MT), were offset by reductions for Indonesia (100 MT). Net sales of 7,100 MT for 2024 were primarily for Taiwan (2,600 MT), Japan (1,500 MT), Mexico (1,000 MT), South Korea (900 MT), and Hong Kong (300 MT). |
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Weekly Export Details |
Exports of 17,000 MT were up 29 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to South Korea (4,800 MT), Japan (3,300 MT), China (3,000 MT), Mexico (2,100 MT), and Canada (1,400 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: 17,800 |
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Weekly Sales Details |
Net sales of 17,800 MT for 2023 were down 25 percent from the previous week and 35 percent from the prior 4-week average. Increases primarily for South Korea (11,900 MT, including decreases of 400 MT), Mexico (2,700 MT, including decreases of 2,000 MT), Japan (1,800 MT, including decreases of 900 MT), Colombia (900 MT, including decreases of 100 MT), and the Dominican Republic (200 MT, including decreases of 100 MT), were offset by reductions primarily for Australia (200 MT) and Chile (100 MT). Net sales of 9,900 MT for 2024 primarily for Japan (4,000 MT), Mexico (3,100 MT), South Korea (2,500 MT), Malaysia (300 MT), and China (200 MT), were offset by reductions primarily for the Philippines (300 MT), Colombia (200 MT), Vietnam (100 MT), and Australia (100 MT). |
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Weekly Export Details |
Exports of 22,000 MT were down 24 percent from the previous week and 33 percent from the prior 4-week average. The destinations were primarily to Mexico (8,400 MT), South Korea (3,200 MT), Japan (2,500 MT), China (2,300 MT), and Colombia (1,400 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 6.4% from last year. |
