Corn, Wheat Export Sales Top Expectations

Posted on 12/07/2018 7:48 AM

USDA Weekly Export Sales Report

Week Ended Nov. 29, 2018

Corn

Actual Sales (in MT)

2018-19:  1,177,500

Expectations (in MT)

 2018-19:  800,000-1,100,000

Weekly Sales Details

Net sales of 1,177,500 MT for 2018/2019 were down 7 percent from the previous week, but up 26 percent from the prior 4-week average.  Increases were reported for Mexico (302,700 MT, including decreases of 7,400 MT), Japan (292,600 MT), unknown destinations (178,000 MT), Colombia (135,100 MT, including 77,500 MT switched from unknown destinations and decreases of 2,000 MT), and South Korea (77,700 MT).   Reductions were reported for France (9,900 MT).

Weekly Export Details

Exports of 1,166,300 MT were up 11 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to Mexico (358,400 MT), Japan (173,000 MT), South Korea (135,300 MT), Colombia (129,100 MT), and Taiwan (78,200 MT). 

Comments and Performance Indicators

Export commitments are running 17% ahead of year-ago versus 16% ahead of 2017-18 levels last week. USDA projects exports in 2018-19 at 2.450 billion bu., up 0.5% from the previous marketing year.

Wheat

Actual Sales (in MT)

2018-19: 711,800

Expectations (in MT)

2018-19: 300,000-600,000

Weekly Sales Details

Net sales of 711,800 metric tons for 2018/2019 were up 89 percent from the previous week and 58 percent from the prior 4-week average.  Increases were reported for Egypt (120,000 MT), Mexico (118,100 MT, including decreases of 7,400 MT), Thailand (109,100 MT), South Korea (87,700 MT), and Venezuela (60,000 MT).  Reductions were primarily for Japan (16,100 MT). 

Weekly Export Details

Exports of 480,700 MT were up 93 percent from the previous week and 43 percent from the prior 4-week average.  The destinations were primarily to Vietnam (67,400 MT), Guatemala (65,100 MT), the Philippines (51,800 MT), Mexico (51,700 MT), and Iraq (50,100 MT).  

Comments and Performance Indicators

Export commitments are running 11% behind year-ago versus 13% 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:  890,900

Expectations (in MT)

2018-19: 600,000-900,000

Weekly Sales Details

Net sales of 890,900 MT for 2018/2019 were up 42 percent from the previous week and 87 percent from the prior 4-week average.  Increases were reported for Argentina (169,500 MT, including 167,000 MT switched from unknown destinations and decreases of 2,000 MT), Indonesia (149,600 MT, including 68,000 MT switched from unknown destinations and decreases of 300 MT), Spain (135,200 MT, including 140,100 MT switched from unknown destinations and decreases of 6,900 MT), the Netherlands (103,600 MT, including 96,000 MT switched from unknown destinations), and Egypt (89,000 MT, including 31,500 MT switched from unknown destinations and decreases of 3,200 MT).  Reductions were primarily for unknown destinations (166,300 MT) and Mexico (32,900 MT).  For 2019/2020, net sales of 4,100 MT were reported for Japan.

Weekly Export Details

Exports of 1,252,200 MT were up 22 percent from the previous week and 11 percent from the prior 4-week average.  The destinations were primarily to Argentina (213,900 MT), Spain (133,200 MT), Pakistan (131,300 MT), the Netherlands (103,600 MT), and Indonesia (99,800 MT).

Comments and Performance Indicators

Export commitments are running 33% behind the 2017-18 marketing year compared with 32% behind year-ago last week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

Soymeal

Actual Sales (in MT)

2018-19:   287,300

Expectations

2018-19:  175,000-400,000

Weekly Sales Details

Net sales of 287,300 MT for 2018/2019 were up 52 percent from the previous week and 4 percent from the prior 4-week average.  Increases were reported for unknown destinations (85,800 MT), Vietnam (52,100 MT), Mexico (41,600 MT, including decreases of 200 MT), Japan (24,200 MT, including decreases of 1,200 MT), and Colombia (11,800 MT, including decreases of 4,700 MT).  Reductions were for Jamaica (4,300 MT), Cyprus (3,600 MT), and Guatemala (600 MT). 

Weekly Export Details

Exports of 266,000 MT were up 27 percent from the previous week and 18 percent from the prior 4-week average.  The destinations were primarily for the Philippines (49,300 MT), Colombia (40,900 MT), Mexico (39,900 MT), Venezuela (30,000 MT), and Canada (27,600 MT).  

Comments and Performance Indicators

Export commitments for 2018-19 are running 18% ahead of year-ago early in the marketing year, compared with 16% ahead last week. USDA projects exports in 2018-19 to be down 7.3% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2018-19: 21,000

Expectations

2018-19: 8,000-26,000

Weekly Sales Details

Net sales of 21,000 MT for 2018/2019 were up noticeably from the previous week, but down 3 percent from the prior 4-week average.  Increases were reported for South Korea (9,000 MT), Guatemala (6,500 MT), the Dominican Republic (3,000 MT), El Salvador (1,200 MT), and Mexico (1,100 MT).

Weekly Export Details

Exports of 40,100 MT were up 71 percent from the previous week and up noticeably from the prior 4-week average.  Increases were reported to South Korea (25,000 MT), Guatemala (7,000 MT), the Dominican Republic (4,000 MT), Mexico (2,600 MT), and Trinidad (700 MT). 

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 49% ahead of year-ago, versus 54% ahead last week. USDA projects exports in 2018-19 to be down 10.2% from the previous year.

Cotton

Actual Sales (in RB)

2018-19:  94,900

Weekly Sales Details

Net sales of 94,900 RB for 2018/2019 were down 46 percent from the previous week and 31 percent from the prior 4-week average.  Increases were reported for Vietnam (31,900 RB, including 900 RB switched from Taiwan, 200 RB switched from Japan, and decreases of 1,100 RB), Bangladesh (28,300 RB, including decreases of 100 RB), Malaysia (16,700 RB, including decreases of 1,800 RB), Pakistan (13,200 RB, including decreases of 400 RB), and Turkey (10,400 RB).  Reductions were reported for China (30,300 RB).  For 2019/2020, net sales of 80,500 RB were reported for Malaysia (47,500 RB), China (28,200 RB), and Thailand (4,800 RB).  Exports of 158,600 RB were up 26 percent from the previous week and 17 percent from the prior 4-week average.  Exports were primarily to Vietnam (41,500 RB), Mexico (15,500 RB), China (14,200 RB), Indonesia (11,300 RB), and South Korea (10,300 RB).  Net sales of Pima totaling 22,400 RB for 2018/2019 were up 5 percent from the previous week and 29 percent from the prior 4-week average.  Increases were reported for India (6,800 RB), Vietnam (4,300 RB, switched from China), China (3,600 RB), Egypt (2,600 RB), and Austria (2,600 RB). 

Weekly Export Details

Exports of 16,300 RB--a marketing-year high--were up 67 percent from the previous week and up noticeably from the prior 4-week average.  The destinations were primarily to China (9,500 RB), Pakistan (3,100 RB), Peru (1,400 RB), and Vietnam (1,300 RB). 

Comments and Performance Indicators

Export commitments for 2018-19 are running in line with year-ago levels, the same as last week. USDA forecasts total cotton exports to fall 5.4% to 15.0 million bales this marketing year.

Beef

Actual Sales (in MT)

2018: -100
2019: 12,900

Weekly Sales Details

Net sales reductions of 100 MT reported for 2018 resulted in increases for Japan (2,900 MT, including decreases of 600 MT), Mexico (1,300 MT, including decreases of 100 MT), Canada (400 MT, including decreases of 100 MT), Indonesia (300 MT), and Italy (300 MT).  Reductions were primarily for South Korea (4,800 MT) and Hong Kong (1,100 MT).  For 2019, net sales of 12,900 MT were primarily for South Korea (7,600 MT), Hong Kong (1,700 MT), the Philippines (1,500 MT), and Japan (1,100 MT).

Weekly Export Details

Exports of 18,400 MT were up 26 percent from the previous week and 15 percent from the prior 4-week average.  The primary destinations were Japan (5,300 MT), South Korea (3,800 MT), Hong Kong (2,900 MT), Mexico (2,000 MT), and Canada (1,700 MT).

Comments and Performance Indicators

Today's tally compares to net sales of 9,100 MT for 2018 last week. USDA projects exports in 2018 to be up 11.5% from last year's total.

Pork

Actual Sales (in MT)

2018: 20,000
2019: 8,600

Weekly Sales Details

Net sales of 20,000 MT reported for 2018 were down 5 percent from the previous week, but up 4 percent from the prior 4-week average.  Increases were reported for Japan (6,300 MT), Mexico (3,300 MT), South Korea (3,200 MT), China (2,400 MT), and Australia (900 MT).  For 2019, net sales of 8,600 MT reported for South Korea (4,200 MT), Mexico (2,600 MT), Australia (900 MT), and Taiwan (400 MT), were partially offset by reductions for Colombia (100 MT) and China (100 MT).

Weekly Export Details

Exports of 27,900 MT--a marketing-year high--were up 7 percent from the previous week and 6 percent from the prior 4-week average.  The primary destinations were Mexico (10,400 MT), South Korea (4,600 MT), Japan (4,100 MT), Colombia (1,900 MT), and Canada (1,700 MT). 

Comments and Performance Indicators

Last week, USDA reported export sales of 20,900 MT for 2018. USDA projects exports in 2018 to be 6.3% above last year's total.

 

 

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