Corn Export Sales Improve, But Bean Sales Remain Light

Posted on 11/08/2018 8:05 AM

USDA Weekly Export Sales Report

Week Ended Nov. 1, 2018

Corn

Actual Sales (in MT)

2018-19: 701,500

Expectations (in MT)

 2018-19: 600,000-900,000

Weekly Sales Details

Net sales of 701,500 MT for 2018-19 were up 78% from the previous week and 32% from the prior 4-week average.  Increases were reported for Japan (371,500 MT, including 145,700 MT switched from unknown destinations and decreases of 7,400 MT), Mexico (267,600 MT, including decreases of 42,900 MT), South Korea (127,100 MT, including 180,000 MT switched from unknown destinations and decreases of 65,000 MT), Taiwan (82,800 MT, including 65,000 MT switched from unknown destinations), and Egypt (55,000 MT, switched from unknown destinations).  Reductions were primarily for unknown destinations (302,600 MT).

Weekly Export Details

Exports of 1,355,400 MT were up 80% from the previous week and 16% from the prior 4-week average.  The destinations were primarily to Japan (391,600 MT), Mexico (319,100 MT), South Korea (135,600 MT), Taiwan (77,100 MT), and Peru (72,500 MT).

 

Comments and Performance Indicators

Export commitments are running 16% ahead of year-ago versus 28% ahead of 2017-18 levels last week. USDA projects exports in 2018-19 at 2.475 billion bu., up 1.5% from the previous marketing year.

Wheat

Actual Sales (in MT)

2018-19: 661,200

Expectations (in MT)

2018-19: 300,000-600,000

Weekly Sales Details

Net sales of 661,200 metric tons for 2018-19 were up 14% from the previous week and 47% from the prior 4-week average.  Increases were reported for the Philippines (306,100 MT, including 184,100 MT switched from unknown destinations and decreases of 5,000 MT), Indonesia (130,000 MT, including 60,000 MT switched from unknown destinations), Japan (99,600 MT, including 24,600 MT switched from unknown destinations), South Korea (77,100 MT), and Mexico (65,800 MT, including decreases of 6,100 MT).  Reductions were reported for unknown destinations (270,600 MT).  

Weekly Export Details

Exports of 328,400 MT were down 21% from the previous week and 26% from the prior 4-week average.  The destinations were primarily to Saudi Arabia (64,500 MT), Bangladesh (63,900 MT), Brazil (48,200 MT), Mexico (31,700 MT), and South Korea (28,900 MT). 

 

Comments and Performance Indicators

Export commitments are running 16% behind year-ago versus 16% 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)

Combined: 391,400
2018-19: 388,400
2019-20: 3,000

Expectations (in MT)

2018-19: 400,000-700,000

Weekly Sales Details

Net sales of 388,400 MT for 2018-19 were down 2% from the previous week, but up 16% from the prior 4-week average.  Increases were reported for the Netherlands (140,400 MT, including 136,000 MT switched from unknown destinations), Thailand (80,800 MT, including 70,000 MT switched from unknown destinations), Spain (70,600 MT, including 65,000 MT switched from unknown destinations), Pakistan (69,000 MT, including 66,000 MT switched from unknown destinations), and Bangladesh (60,000 MT, switched from China).  Reductions were primarily for unknown destinations (379,500 MT).  For 2019/20, total net sales were reported for Japan (3,000 MT).

Weekly Export Details

Exports of 1,136,200 MT were down 14% from the previous week, but up 2% from the prior 4-week average.  The destinations were primarily to the Netherlands (140,400 MT), Mexico (140,200 MT), China (136,100 MT), Argentina (99,300 MT), and Japan (87,100 MT). 

Comments and Performance Indicators

Export commitments are running 31% behind the 2017-18 marketing year compared with 29% behind year-ago last week. USDA projects exports in 2018-19 at 2.060 billion bu., down 3.2% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 256,000
2018-19: 255,100
2019-20: 900

Expectations

2018-19: 200,000-450,000

Weekly Sales Details

Net sales of 255,100 MT for 2018-19 were reported for Ecuador (38,200 MT, including decreases of 1,800 MT), Mexico (30,500 MT, including decreases of 3,100 MT), the Philippines (29,100 MT), Colombia (28,300 MT, including 9,000 MT switched from unknown destinations), and Vietnam (27,800 MT).  Reductions were primarily for El Salvador (10,000 MT).  For, 2019/20, net sales of 900 MT were reported for Mexico (700 MT) and Canada (200 MT).

Weekly Export Details

Exports of 237,600 MT were reported to the Philippines (47,000 MT), Mexico (43,100 MT), Ecuador (31,200 MT), Colombia (30,400 MT), and the Dominican Republic (24,200 MT).

 

Comments and Performance Indicators

Export commitments for 2018-19 are running 15% ahead of year-ago early in the marketing year, compared with 15% ahead last week. USDA projects exports in 2018-19 to be down 9.4% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2018-19: 22,400

Expectations

2018-19: 8,000-30,000

Weekly Sales Details

Net sales of 22,400 MT for 2018-19 were reported for South Korea (14,000 MT), Guatemala (7,000 MT), and the Dominican Republic (1,200 MT). Reductions were reported for Canada (700 MT).  

Weekly Export Details

Exports of 18,900 MT were reported to South Korea (10,500 MT), El Salvador (2,200 MT), Nicaragua (2,000 MT), and Mexico (1,900 MT).

 

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 34% ahead of year-ago, versus 34% ahead last week. USDA projects exports in 2018-19 to be up 2.7% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 106,500
2018-19: 91,000
2019-20: 15,500

Weekly Sales Details

Net sales of 91,000 RB for 2018-19 were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for Vietnam (87,400 RB, including 4,500 RB switched from South Korea, 900 RB switched from Indonesia, 600 RB switched from China, and 400 RB switched from Taiwan), Pakistan (17,200 RB), Japan (14,400 RB, including decreases of 900 RB), Bangladesh (9,700 RB), and Turkey (8,300 RB).  Reductions were reported for China (58,000 RB) and South Korea (4,400 RB).  For 2019/20, net sales of 15,500 RB were reported for China (7,900 RB), Pakistan (4,400 RB), Thailand (1,800 RB), and Japan (1,400 RB).  

Weekly Export Details

Exports of 151,000 RB were up 38% from the previous week and 2% from the prior 4-week average. Exports were primarily to Vietnam (38,900 RB), China (29,600 RB), Mexico (17,700 RB), Pakistan (14,500 RB), and Taiwan (10,000 RB).  

Comments and Performance Indicators

Export commitments for 2018-19 are running 9% ahead of year-ago levels compared with 10% ahead last week. USDA forecasts total cotton exports to fall 2.2% to 15.5 million bales this marketing year.

Beef

Actual Sales (in MT)

Combined: 13,600
2018: 11,500
2019: 2,100

Weekly Sales Details

Net sales of 11,500 MT reported for 2018 were down 55% from the previous week and 31% from the prior 4-week average.  Increases were reported for Japan (3,500 MT, including decreases of 200 MT), South Korea (3,100 MT, including decreases of 300 MT), Taiwan (1,400 MT, including decreases of 100 MT), Mexico (1,100 MT, including decreases of 100 MT), and Canada (700 MT, including decreases of 100 MT).  For 2019, net sales of 2,100 MT primarily for Taiwan (600 MT), Japan (500 MT), and Canada (400 MT), were partially offset by reductions for South Korea (100 MT). 

Weekly Export Details

Exports of 16,000 MT were down 4% from the previous week and 9% from the prior 4-week average.  The primary destinations were Japan (5,300 MT), South Korea (3,600 MT), Hong Kong (2,100 MT), Mexico (1,800 MT), and Taiwan (1,100 MT).

Comments and Performance Indicators

Today's tally compares to net sales of 26,800 MT last week. USDA projects exports in 2018 to be up 10.6% from last year's total.

Pork

Actual Sales (in MT)

Combined: 22,200
2018: 21,100
2019: 1,000

Weekly Sales Details

Net sales of 21,100 MT reported for 2018 were down 3% from the previous week, but up 24% from the prior 4-week average.  Increases were reported for Mexico (7,800 MT), South Korea (5,100 MT), Japan (2,000 MT), Colombia (1,900 MT). and Canada (1,300 MT).  For 2019, net sales of 1,000 MT were reported for South Korea (700 MT), Mexico (200 MT), and Colombia (100 MT). 

Weekly Export Details

Exports of 25,300 MT were down 2% from the previous week, but up 2% from the prior 4-week average.  The primary destinations were Mexico (9,000 MT), South Korea (4,900 MT), Japan (3,500 MT), Canada (1,800 MT), and Colombia (1,500 MT).

Comments and Performance Indicators

Last week, USDA reported export sales of 23,600 MT for 2018 and 2019. USDA projects exports in 2018 to be 6.3% above last year's total.

 

 

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