Strong Weekly Soybean Export Sales

Posted on 09/12/2019 7:53 AM

USDA Weekly Export Sales Report

Week Ended Sept. 5, 2019

Corn

Actual Sales (in MT)

2019-20: 498,100

Expectations (in MT)

2019-20: 500,000-900,000

Weekly Sales Details

Net sales for the 2019/2020 marketing year, which began September 1, totaled 498,100 MT.  Increases were reported for Mexico (193,800 MT, including decreases of 11,600 MT), Japan (158,100 MT, including 88,900 MT switched from unknown destinations), Colombia (96,200 MT), Nicaragua (58,000 MT), and Costa Rica (41,200MT, including 30,100 MT switched from unknown destinations).  Reductions were primarily for unknown destinations (120,300 MT).  A total of 734,400 MT in sales were carried over from the 2018/2019 marketing year, which ended August 31.

Weekly Export Details

Exports for the period ending August 31 of 278,000 MT brought accumulated exports to 49,202,100 MT, down 14 percent from the prior year’s total of 57,473,700 MT.  The primary destinations were Mexico (88,200 MT), Saudi Arabia (58,900 MT), China (58,000 MT), El Salvador (22,500 MT), and Guatemala (19,500 MT).  Exports for September 1-5 totaled 412,200 MT, with Mexico (212,000 MT) and Japan (109,700 MT) being the primary destinations.

Comments and Performance Indicators

Export commitments started the 2019-20 marketing year 53% behind year-ago. USDA projects exports in 2019-20 at 2.050 billion bu., down 2.4% from the previous marketing year.

Wheat

Actual Sales (in MT)

2019-20: 610,900

Expectations (in MT)

2019-20: 300,000-600,000

Weekly Sales Details

Net sales of 610,900 metric tons for 2019/2020 were up 96 percent from the previous week and 20 percent from the prior 4-week average.  Increases were primarily for the Philippines (109,000 MT), Mexico (91,900 MT), Indonesia (63,700 MT), Nigeria (54,700 MT, including decreases of 24,500 MT), and South Korea (53,000 MT).  Reductions were primarily for unknown destinations (62,500 MT).  For 2020/2021, total net sales reductions of 8,200 MT were for unknown destinations.

Weekly Export Details

Exports of 404,400 MT were down 28 percent from the previous week and 30 percent from the prior 4-week average.  The destinations were primarily to Thailand (58,400 MT), Italy (53,900 MT), Mexico (38,000 MT), Japan (37,600 MT), and Chile (37,200 MT).

Comments and Performance Indicators

Export commitments are running 22% ahead of year-ago compared with 21% ahead the week prior. USDA projects exports in 2019-20 at 975 million bu., up 4.2% from the previous marketing year.

Soybeans

Actual Sales (in MT)

2019-20: 1.172

Expectations (in MT)

2019-20: 600,000-1,100,000

Weekly Sales Details

Net sales for the 2019/2020 marketing year, which began September 1, totaled 1,172,200 MT.  Increases were reported for Mexico (644,300 MT, including decreases of 1,800 MT), unknown destinations (150,000 MT), Thailand (84,900 MT), South Korea (58,200 MT, including 63,000 MT switched from unknown destinations and decreases of 5,000 MT), and the Netherlands (56,400 MT, including 60,000 MT switched from unknown destinations and decreases of 3,600 MT).  Reductions were primarily for Canada (20,000 MT).  A total of 1,934,300 MT in sales were carried over from the 2018/2019 marketing year, which ended August 31.

Weekly Export Details

Exports for the period ending August 31 of 581,800 MT brought accumulated exports to 46,770,300 MT, down 17 percent from the prior year’s total of 56,350,000 MT.  The primary destinations were China (341,100 MT, including 68,200 MT late reporting), Egypt (64,300 MT), Saudi Arabia (53,400 MT), Spain (51,100 MT), and Japan (27,400 MT).  Exports for September 1-5 totaled 476,000 MT, with China (206,000 MT), South Korea (60,200 MT), the Netherlands (56,400 MT), Mexico (48,800 MT), and Italy (21,200 MT) being the primary destinations.

Comments and Performance Indicators

Export commitments started the 2019-20 marketing year 44% behind year-ago . USDA projects exports in 2019-20 at 1.775 billion bu., up 4.4% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 119,100
2018-19: 38,000
2019-20: 81,100

Expectations

2018-19: 25,000-75,000
2019-20: 100,000-250,000

Weekly Sales Details

For 2018/2019, net sales of 38,000 MT resulting in increases for the Philippines (9,200 MT, including decreases of 100 MT), unknown destinations (8,500 MT), Canada (6,300 MT), Japan (4,400 MT, including 4,500 MT switched from unknown destinations and decreases of 200 MT), and El Salvador (4,000 MT, including 4,800 MT switched from Honduras and decreases of 800 MT), were partially offset by reductions for Honduras (9,200 MT).  For 2019/2020, net sales of 81,100 MT primarily for Mexico (36,800 MT), Colombia (23,600 MT), Nicaragua (14,200 MT), Honduras (8,100 MT), and Canada (7,700 MT), were partially offset by reductions for unknown destinations (16,000 MT).

Weekly Export Details

Exports of 139,300 MT were down 47 percent from the previous week and 40 percent from the prior 4-week average.  The destinations were primarily to the Philippines (52,200 MT), Mexico (22,200 MT), Canada (16,700 MT), Panama (9,800 MT), and Japan (7,600 MT).

Comments and Performance Indicators

Export commitments for 2018-19 are running 4% behind year-ago, which compares to 4% behind the week prior. USDA projects exports in 2018-19 to be down 3.3% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 10,800
2018-19: 8,200
2019-20: 2,600

Expectations

2018-19: 0-10,000
2019-20: 5,000-25,000

Weekly Sales Details

Net sales of 8,200 MT for 2018/2019, were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for South Korea (10,000 MT, switched from unknown destinations), the Dominican Republic (3,700 MT), Costa Rica (2,000 MT), and Mexico (1,300 MT), were partially offset by reductions for unknown destinations (10,000 MT).  For 2019/2020, total net sales of 2,600 MT were for Mexico.

Weekly Export Details

Exports of 13,300 MT were down 24 percent from the previous week, but up 39 percent from the prior 4-week average.  The destinations were primarily to South Korea (10,000 MT), Mexico (3,000 MT), and Canada (200 MT).  

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 15% behind year-ago, which compares to 16% behind the week prior. USDA projects exports in 2018-19 to be down 16.1% from the previous year.

Cotton

Actual Sales (in RB)

2019-20: 74,600

Weekly Sales Details

Net sales of 74,600 RB for 2019/2020 were down 54 percent from the previous and 63 percent from the prior 4-week average.  Increases were primarily for Bangladesh (17,300 RB), Vietnam (17,200 RB), Pakistan (10,100 RB), South Korea (9,400 RB), and Turkey (9,200 RB).  Reductions were reported for China (20,800 RB).  For 2020/2021, total net sales of 500 RB were for Japan.  Exports of 166,900 RB were down 28 percent from the previous week and 35 percent from the prior 4-week average.

Weekly Export Details

Exports were primarily to Vietnam (46,100 RB), Bangladesh (22,900 RB), China (21,300 RB), Turkey (14,800 RB), and Mexico (13,700 RB).  Net sales of Pima totaling 3,800 RB were up noticeably from the previous week, but down noticeably from the prior 4-week average.  Increases were for Peru (1,600 RB), India (1,300 RB), Thailand (400 RB), Turkey (300 RB), and Bangladesh (300 RB).  Exports of 4,600 RB were primarily to India (2,000 RB), China (1,300 RB), and El Salvador (1,000 RB).

Comments and Performance Indicators

Export commitments for 2019-20 are running 6% behind year-ago versus 6% behind year-ago last week. USDA forecasts total cotton exports to fall rise 21.0% to 17.2 million bales this marketing year.

Beef

Actual Sales (in MT)

Combined: 18,100
2019: 18,000
2020: 100

Weekly Sales Details

Net sales of 18,000 MT were reported for 2019 were unchanged from the previous week, but up 11 percent from the prior 4-week average.  Increases were primarily for Hong Kong (11,100 MT, including decreases of 200 MT), Japan (2,900 MT, including decreases of 300 MT), South Korea (1,000 MT, including decreases of 500 MT), Taiwan (900 MT, including decreases of 100 MT), and Mexico (800 MT, including decreases of 100 MT).  Reductions were reported for Indonesia (100 MT).  For 2020, net sales of 100 MT were primarily for Japan.

Weekly Export Details

Exports of 14,600 MT were down 11 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to South Korea (4,600 MT), Japan (4,400 MT), Mexico (1,500 MT), Taiwan (1,100 MT), and Hong Kong (600 MT).

Comments and Performance Indicators

Last week, 2019 sales totaled 18,100 MT. USDA projects 2019 exports to slide 0.3% from year-ago levels.

Pork

Actual Sales (in MT)

2019: 21,900

Weekly Sales Details

Net sales of 21,900 MT reported for 2019 were up 24 percent from the previous week and 3 percent from the prior 4-week average.  Increases were primarily for China (10,900 MT), Japan (3,800 MT), Canada (2,000 MT), Mexico (2,000 MT), and South Korea (1,400 MT).  Reductions were reported for Vietnam (100 MT).

Weekly Export Details

Exports of 20,900 MT were down 14 percent from the previous week and 17 percent from the prior 4-week average.  The primary destinations were to Mexico (6,600 MT), China (5,100 MT), Japan (2,600 MT), Canada (1,700 MT), and South Korea (1,300 MT).

Comments and Performance Indicators

Sales for 2019 totaled 17,700 in last week’s report. USDA projects exports in 2019 will rise 9.6% from year-ago.

 

 

 

 

 

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