Slowdown in Corn and Soy Export Sales over Christmas

Posted on 02/07/2019 7:13 AM

USDA Weekly Export Sales Report

Week Ended Dec. 27, 2018

Corn

Actual Sales (in MT)

2018-19: 503,100

Expectations (in MT)

NA

Weekly Sales Details

Net sales of 503,100 MT for 2018/2019 were down 70% from the previous week and 65% from the prior 4-week average.  Increases were reported for Mexico (159,000 MT, including decreases of 22,400 MT), Colombia (154,600 MT,  including 100,000 MT switched from unknown destinations), Peru (152,500 MT, including 40,000 MT switched from unknown destinations and 30,000 MT switched for Trinidad), South Korea (72,800 MT, including deceases of 800 MT), and Guatemala (40,200 MT, including 20,000 MT switched from El Salvador, 1,500 MT switched from Nicaragua, and decreases of 2,700 MT).  Reductions were reported for unknown destinations (133,700 MT), Trinidad (24,000 MT), the Dominican Republic (9,800 MT), and Costa Rica (1,000 MT). 

Weekly Export Details

Exports of 1,006,000 MT were up 12% from the previous week and 1% from the prior 4-week average.  The destinations were primarily to Mexico (261,600 MT), Colombia (249,500 MT), South Korea (201,500 MT), Peru (97,800 MT), and Japan (93,700 MT).  

 

Comments and Performance Indicators

Export commitments are running 19% ahead of year-ago versus 18% ahead of 2017-18 levels the previous 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: 593,000

Expectations (in MT)

NA

Weekly Sales Details

 Net sales of 593,000 metric tons for 2018/2019 were up 15% from the previous week and 3% from the prior 4-week average.  Increases were reported for Mexico (135,300 MT), the Philippines (75,800 MT, including decreases of 200 MT), Peru (70,000 MT), Indonesia (68,000 MT), and Iraq (50,000 MT).  Reductions were reported for Malaysia (14,700 MT).  

Weekly Export Details

Exports of 432,000 MT were down 13% from the previous week and 19% from the prior 4-week average.  The destinations were primarily to Japan (64,400 MT), Mexico (63,700 MT), South Korea (55,000 MT), Taiwan (35,300 MT), and Guatemala (35,300 MT).  

 

Comments and Performance Indicators

Export commitments are running 9% behind year-ago versus 11% behind the previous week. USDA projects exports in 2018-19 at 1.000 billion bu., up 11.0% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 1,056,800
2018-19: 1,051,500
2019-20: 5,300

Expectations (in MT)

NA

Weekly Sales Details

 Net sales of 1,051,500 MT for 2018/2019 were down 56% from the previous week and 39% from the prior 4-week average.  Increases were reported for China (808,000 MT), Spain (171,300 MT, including 163,000 MT switched from unknown destinations), the Netherlands (84,500 MT, including 80,000 MT switched from unknown destinations), Egypt (62,400 MT, including 60,000 MT switched from unknown destinations), and Bangladesh (60,800 MT, including 60,000 MT switched from unknown destinations and decreases of 6,300 MT).  Reductions were primarily for unknown destinations (384,500 MT) and Belgium (1,000 MT).  For 2019/2020, total net sales were reported for Japan (5,300 MT). 

Weekly Export Details

Exports of 918,600 MT were up 50% from the previous week, but down 14% from the prior 4-week average.  The destinations were primarily to Spain (171,300 MT), Bangladesh (114,400 MT), Mexico (104,700 MT), the Netherlands (84,500 MT), and Belgium (65,000 MT).  

 

Comments and Performance Indicators

Export commitments are running 24% behind the 2017-18 marketing year compared with 26% behind year-ago the previous week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 40,300
2018-19: 40,600
2019-20: -300

Expectations

NA

Weekly Sales Details

Net sales of 40,600 MT for 2018/2019--a marketing-year low--were down 91% from the previous week and 85% from the prior 4-week average.  Increases were reported for Japan (24,400 MT, including decreases of 2,500 MT), Canada (8,800 MT, including decreases of 100 MT), Guatemala (8,500 MT, switched from El Salvador), Panama (7,000 MT), and Bangladesh (3,400 MT).  Reductions were reported for Peru (15,000 MT), El Salvador (7,200 MT), the Dominican Republic (6,700 MT), and Mexico (2,900 MT).  For 2019/2020, net sales reductions were reported for Canada (300 MT).  

Weekly Export Details

Exports of 302,200 MT--a marketing-year high--were up 62% from the previous week and 27% from the prior 4-week average.  The destinations were primarily to Vietnam (53,200 MT), Colombia (46,800 MT), Mexico (41,000 MT), Japan (37,200 MT), and Guatemala (28,900 MT).  

 

Comments and Performance Indicators

Export commitments for 2018-19 are running 11% ahead of year-ago early in the marketing year, compared with 12% ahead the previous week. USDA projects exports in 2018-19 to be down 7.3% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2018-19: 16,000

Expectations

NA

Weekly Sales Details

Net sales of 16,000 MT for 2018/2019 were up 17% from the previous week, but down 16% from the prior 4-week average.  Increases were for the Dominican Republic (10,300 MT), Jamaica (3,500 MT), Canada (1,500 MT), and El Salvador (700 MT). 

Weekly Export Details

Exports of 8,200 MT were down 46% from the previous week and 56% from the prior 4-week average.  The destinations were primarily to Colombia (4,900 MT), Mexico (2,800 MT), and Canada (400 MT). 

 

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 25% ahead of year-ago, versus 27% ahead the previous week. USDA projects exports in 2018-19 to be down 10.2% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 260,400
2018-19: 228,200
2019-20: 32,200

Weekly Sales Details

Net sales of 228,200 RB for 2018/2019 were down 39% from the previous week, but up 39% from the prior 4-week average.  Increases were reported for Pakistan (52,800 RB), Turkey (49,200 RB, including decreases of 1,700 RB), India (35,500 RB), China (28,400 RB, including decreases of 13,400 RB), and Mexico (23,800 RB).  For 2019/2020, net sales of 32,200 RB were reported for Mexico (29,000 RB), Japan (2,300 RB), and Thailand (900 RB).  

Weekly Export Details

Exports of 189,800 RB were down 8% from the previous week, but up 13% from the prior 4-week average.  Exports were primarily to Vietnam (34,500 RB), Pakistan (31,400 RB), Indonesia (23,000 RB), China (19,600 RB), and Turkey (16,600 RB).

Comments and Performance Indicators

Export commitments for 2018-19 are running 2% behind year-ago, versus 2% behind the previous week. USDA forecasts total cotton exports to fall 5.4% to 15.0 million bales this marketing year.

Beef

Actual Sales (in MT)

Combined: 7,500
2018: 3,200
2019: 4,300

Weekly Sales Details

Net sales of 3,200 MT reported for 2018 were down 77% from the previous week and 63% from the prior 4-week average.  Increases were reported for Canada (1,300 MT), Japan (500 MT, including decreases of 300 MT), South Korea (500 MT, including decreases of 300 MT), Mexico (400 MT, including decreases of 100 MT), and Brazil (200 MT).  For 2019, net sales of 4,300 MT were primarily for Japan (1,200 MT), Hong Kong (1,200 MT), Taiwan (600 MT), Mexico (600 MT), and South Korea (300 MT).

Weekly Export Details

Exports of 11,300 MT were down 45% from the previous week and 39% from the prior 4-week average.  The primary destinations were South Korea (3,300 MT), Japan (3,000 MT), Hong Kong (1,300 MT), Mexico (1,300 MT), and Taiwan (1,100 MT).

Comments and Performance Indicators

Today's tallies compare to net sales of 14,100 MT for 2018 and 7,400 MT for 2019 the previous week. USDA projects exports in 2018 to be up 11.5% from last year and for 2019 exports to rise another 2.4%.

Pork

Actual Sales (in MT)

Combined: 33,100
2018: 3,800
2019: 29,300

Weekly Sales Details

Net sales of 3,800 MT reported for 2018--a marketing-year low--were down 83% from the previous week and 84% from the prior 4-week average.  Increases were reported for Mexico (3,900 MT), South Korea (400 MT), Japan (300 MT), Canada (200 MT), and Taiwan (100 MT).  Reductions were reported for China (700 MT) and Colombia (700 MT).  For 2019, net sales of 29,300 MT reported for China (15,200 MT), South Korea (4,500 MT), Mexico (4,300 MT), and Japan (2,400 MT). 

Weekly Export Details

Exports of 21,200 MT were down 28% from the previous week and 24% from the prior 4-week average.  The primary destinations were Mexico (6,400 MT), South Korea (4,000 MT), Japan (2,500 MT), Hong Kong (1,700 MT), and Canada (1,500 MT).

Comments and Performance Indicators

Today's tallies compare to net sales of 22,000 MT for 2018 and 16,200 MT for 2019 the previous week. USDA projects exports in 2018 to be 6.3% above last year and to rise another 7.8% in 2019.

 

 

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