China Makes Another Big Pork Buy

Posted on 04/18/2019 7:44 AM

USDA Weekly Export Sales Report

Week Ended April 11, 2019

Corn

Actual Sales (in MT)

Combined: 966,000
2018-19: 947,600
2019-20: 18,400

Expectations (in MT)

2018-19: 500,00-850,000
2019-20: 0-100,000

Weekly Sales Details

Net sales of 947,600 MT for 2018-19 were up 73% from the previous week and 33% from the prior 4-week average.  Increases were reported for Japan (365,200 MT, including 119,400 MT switched from unknown destinations and decreases of 28,100 MT), Mexico (309,700 MT, including decreases of 23,000 MT), Colombia (144,600 MT, including 123,600 MT switched from unknown destinations and decreases of 23,500 MT), South Korea (66,800 MT), and El Salvador (54,800 MT, including 9,200 MT switched from unknown destinations and 8,000 MT switched from Guatemala).  Reductions were primarily for unknown destinations (51,800 MT) and the French West Indies (9,300 MT).  For 2019-20, net sales of 18,400 MT were primarily for Guatemala (4,000 MT), El Salvador (4,000 MT), and Honduras (4,000 MT).

Weekly Export Details

Exports of 1,224,200 MT were up 25% from the previous week and 23% from the prior 4-week average.  The destinations were primarily to Japan (392,300 MT), Mexico (334,000 MT), Colombia (179,300 MT), South Korea (141,700 MT), and Taiwan (91,600 MT).  

Comments and Performance Indicators

Export commitments are running 9% behind year-ago versus 9% behind 2017-18 levels the previous week. USDA projects exports in 2018-19 at 2.300 billion bu., down 5.7% from the previous marketing year.

Wheat

Actual Sales (in MT)

Combined: 545,500
2018-19: 317,700
2019-20: 227,800

Expectations (in MT)

2018-19: 200,000-400,000
2019-20: 150,000-300,000

Weekly Sales Details

Net sales of 317,700 metric tons for delivery in the 2018-19 were up 16% from the previous week, but down 28% from the prior 4-week average.  Increases were reported for Nigeria (77,800 MT, including decreases of 8,000 MT), unknown destinations (69,300 MT), Algeria (60,000 MT), Japan (31,300 MT), and Colombia (25,100 MT, including 10,000 MT switched from unknown destinations).  Reductions were for Mexico (3,300 MT).  For 2019-20, net sales of 227,800 MT were primarily for the Philippines (60,000 MT), Algeria (60,000 MT), Japan (35,100 MT), and unknown destinations (30,700 MT). 

Weekly Export Details

Exports of 500,400 MT were down 15% from the previous week, but up 12% from the prior 4-week average.  The destinations were primarily to the Philippines (152,900 MT), Mexico (71,300 MT), Indonesia (58,500 MT), Taiwan (50,300 MT), and Nigeria (49,000 MT).

Comments and Performance Indicators

Export commitments are running 8% ahead of year-ago versus 6% ahead of year-ago the week prior. USDA projects exports in 2018-19 at 945 million bu., up 4.9% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 403,200
2018-19: 382,100
2019-20: 21,100

Expectations (in MT)

2018-19: 350,000-800,000
2019-20: 0-50,000

Weekly Sales Details

Net sales of 382,100 MT for 2018-19 were up 41% from the previous week, but down 46% from the prior 4-week average.  Increases were reported for unknown destinations (170,600 MT), South Korea (48,700 MT, including 50,000 MT switched from unknown destinations and decreases of 1,300 MT), Indonesia (46,600 MT, including decreases of 600 MT), Japan (45,700 MT, including 17,600 MT switched from unknown destination and decreases of 1,100 MT), and Colombia (23,100 MT, including 11,000 MT switched from unknown destinations and decreases of 2,300 MT).  Reductions were for Costa Rica (1,500 MT).  For 2019-20, net sales of 21,100 MT were for Mexico (19,600 MT) and Indonesia (1,500 MT).

Weekly Export Details

Exports of 470,800 MT were down 47% from the previous week and 48% from the prior 4-week average.  The destinations were primarily to China (130,200 MT), Mexico (114,300 MT), Japan (86,900 MT), South Korea (49,000 MT), and Canada (27,800 MT).  

Comments and Performance Indicators

Export commitments are running 18% behind the 2017-18 marketing year compared with 17% behind year-ago the previous week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 298,100
2018-19: 295,300
2019-20: 2,800

Expectations

125,000-325,000

Weekly Sales Details

Net sales of 295,300 MT for 2018-19 were up 94% from the previous week and up noticeably from the prior 4-week average.  Increases were reported for the Philippines (142,100 MT), South Korea (52,500 MT), Vietnam (50,500 MT, including 50,000 MT switched from unknown destinations), Mexico (39,300 MT, including decreases of 800 MT), and Colombia (29,900 MT, including decreases of 1,400 MT).  Reductions were primarily for unknown destinations (52,000 MT).  For 2019-20, total net sales were reported for Canada (2,800 MT). 

Weekly Export Details

Exports of 382,800 MT were up 57% from the previous week and 63% from the prior 4-week average.  The destinations were primarily to the Philippines (75,600 MT), Mexico (54,400 MT), South Korea (52,500 MT), Colombia (47,700 MT), and the Dominican Republic (35,800 MT).  

Comments and Performance Indicators

Export commitments for 2018-19 are running 2% ahead of year-ago, compared with steady with year-ago the week before. USDA projects exports in 2018-19 to be down 2.2% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 25,900
2018-19: 24,200
2019-20: 1,700

Expectations

8,000-30,000

Weekly Sales Details

Net sales of 24,200 MT for 2018-19 were down 28% from the previous week, but up 10% from the prior 4-week average.  Increases were reported for South Korea (16,000 MT), Mexico (4,100 MT), the Dominican Republic (2,400 MT), and Guatemala (1,500 MT).  For 2019-20, total net sales were reported for Mexico (1,700 MT).

Weekly Export Details

Exports of 11,100 MT were up noticeably from the previous week, but down 37% from the prior 4-week average.  The destinations were the Dominican Republic (9,200 MT), Mexico (1,700 MT), and Canada (200 MT).   

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 13% behind year-ago, versus 13% behind year-ago the week prior. USDA projects exports in 2018-19 to be down 8.1% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 238,200
2018-19: 217,600
2019-20: 20,600

Weekly Sales Details

Net sales of 217,600 RB for 2018-19 were down 25% from the previous week and 9% from the prior 4-week average.  Increases were reported for India (78,700 RB), Vietnam (76,900 RB, including 1,800 RB switched from South Korea), Bangladesh (26,000 RB, including decreases of 15,100 RB), Turkey (17,300 RB, including decreases of 100 RB), and South Korea (10,400 RB, including 1,400 RB switched from China).  Reductions were primarily for Hong Kong (4,500 RB), Malaysia (3,800 RB), and Japan (3,300 RB).  For 2019-20, net sales of 20,600 RB were primarily for Vietnam (7,900 RB), El Salvador (7,400 RB), and China (4,400 RB).  Exports of 340,000 RB were down 11% from the previous week and from the prior 4-week average. 

Weekly Export Details

Exports were primarily to Vietnam (86,400 RB), Pakistan (50,300 RB), Turkey (47,600 RB), Bangladesh (27,100 RB), and Indonesia (25,700 RB). 

Comments and Performance Indicators

Export commitments for 2018-19 are running 13% behind year-ago, versus 12% behind the week prior. USDA forecasts total cotton exports to fall 5.4% to 15.0 million bales this marketing year.

Beef

Actual Sales (in MT)

2019: 28,800

Weekly Sales Details

Net sales of 28,800 MT reported for 2019 were up noticeably from the previous week and 81% from the prior 4-week average.  Increases were reported for South Korea (10,900 MT, including decreases of 300 MT), Japan (8,800 MT, including decreases of 200 MT), Mexico (2,900 MT, including decreases of 100 MT), Hong Kong (2,100 MT, including decreases of 100 MT), and Canada (1,700 MT).  Reductions were reported for Chile (100 MT).

Weekly Export Details

Exports of 15,700 MT were up 4% from the previous and 6% from the prior 4-week average.  The primary destinations were South Korea (4,900 MT), Japan (4,800 MT), Mexico (1,800 MT), Taiwan (1,600 MT), and Hong Kong (900 MT).

Comments and Performance Indicators

Last week, sales totaled 11,800 MT. USDA projects 2019 exports to rise 3.1% from year-ago levels.

Pork

Actual Sales (in MT)

2019: 40,300

Weekly Sales Details

Net sales of 40,300 MT reported for 2019 were down 56% from the previous week, but up 6% from the prior 4-week average.  Increases were reported for China (23,500 MT), Hong Kong (4,800 MT), Mexico (4,000 MT), South Korea (2,600 MT), and Canada (1,400 MT).  Reductions were reported for Guatemala (600 MT). 

Weekly Export Details

Exports of 24,700 MT were down 10% from the previous week and from the prior 4-week average.  The primary destinations were Mexico (6,200 MT), China (4,500 MT), South Korea (3,900 MT), Japan (2,300 MT), and Canada (1,700 MT).

Comments and Performance Indicators

Sales totaled 90,700 MT in last week’s report. USDA projects exports in 2019 will rise 5.2% from year-ago.

 

 

 

 

 

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