Light Corn and Wheat Export Sales to Wrap up July

Posted on 08/03/2017 7:56 AM

USDA Weekly Export Sales Report
Week Ended July 27, 2017


Corn
Actual Sales (in MT)

Combined: 475,000
2016-17: 36,700
2017-18: 438,300

Trade Expectations (MT) 500,000-900,000
Weekly Sales Details Net sales of 36,700 MT for 2016-17--marketing-year low--were down 60% from the previous week and 83% from the prior four-week average. Increases were for China (93,400 MT, including 65,000 MT switched from unknown destinations), Colombia (43,300 MT, switched from unknown destinations), Mexico (31,200 MT), Guatemala (25,800 MT, switched from unknown destinations), and Honduras (12,800 MT, including 5,400 MT switched from El Salvador and decreases of 700 MT).  Reductions were reported for unknown destinations (198,500 MT) and Canada (800 MT).  For 2017-18, net sales of 438,300 MT were reported primarily for Mexico (176,200 MT), Peru (97,200 MT), and unknown destinations (62,300 MT).
Weekly Export Details Exports of 1,090,700 MT were up 22% from the previous week and 11% from the prior four-week average.  The primary destinations were Mexico (263,600 MT), Japan (250,800 MT), Colombia (152,600 MT), South Korea (130,900 MT), and China (92,200 MT).
Comments and Performance Indicators Sales were lighter than expected. Export commitments for 2016-17 are running 15% ahead of year-ago compared to 16% ahead the week prior. USDA projects exports in 2016-17 at 2.225 billion bu., up 17.0% from the previous marketing year.

Wheat
Actual Sales (in MT)

2017-18: 145,500

Trade Expectations (MT) 300,000-500,000
Weekly Sales Details Net sales of 145,500 metric tons--a marketing-year low--for delivery in marketing year 2017-18 were down 71% from the previous week and 69% from the prior four-week average.  Increases were for Indonesia (41,700 MT), the Philippines (34,500 MT, including 30,000 MT switched from unknown destinations and decreases of 700 MT), Colombia (22,800 MT, including 12,000 MT switched from unknown destinations and decreases of 7,100 MT), Nigeria (21,000 MT), and Mexico (20,100 MT). Reductions were reported for unknown destinations (47,300 MT) and Japan (18,200 MT).
Weekly Export Details Exports of 583,300 MT were up 22% from the previous week and 14% from the prior four-week average.  The primary destinations were Venezuela (90,000 MT), Indonesia (84,700 MT), Mexico (68,700 MT), the Philippines (64,000 MT), and South Korea (52,200 MT).
Comments and Performance Indicators Sales were well below expectations. Export commitments for 2017-18 are running steady with year-ago versus 2% ahead of year-ago the week prior. USDA projects exports in 2017-18 at 975 million bu., down 7.6% from the previous marketing year.

Soybeans
Actual Sales (in MT)

Combined: 600,900
2016-17: 233,400
2017-18: 367,500

Trade Expectations (MT) 350,000-750,000
Weekly Sales Details Net sales of 233,400 MT for 2016-17 were up 43% from the previous week, but down 20% from the prior four-week average.  Increases were reported for Germany (139,700 MT), the Netherlands (75,900 MT, including 66,000 MT switched from unknown destinations), Bangladesh (57,200 MT, switched from unknown destinations), Spain (55,900 MT, switched from unknown destinations), and the Philippines (15,600 MT).  Reductions were reported for China (59,500 MT), unknown destinations (39,500 MT), Mexico (33,000 MT), and Malaysia (10,500 MT).  For 2017-18, net sales of 367,500 MT were reported for China (129,000 MT), unknown destinations (99,000 MT), Thailand (68,300 MT), and Taiwan (25,000 MT).
Weekly Export Details Exports of 713,600 MT were up 64% from the previous week and 93% from the prior four-week average.  The destinations were primarily Mexico (192,300 MT), Germany (139,700 MT), the Netherlands (75,900 MT), China (73,300 MT), and Bangladesh (58,600 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2016-17 are running 16% ahead of year-ago, compared to 17% ahead the previous week. USDA projects exports in 2016-17 at 2.100 billion bu., up 8.1% from year-ago.

Soymeal
Actual Sales (in MT) Combined: 144,800
2016-17: 87,100
2017-18: 57,700
Trade Expectations (MT)

25,000-275,000

Weekly Sales Details Net sales of 87,100 MT for 2016-17 were up noticeably from the previous week and from the prior four-week average.  Increases were reported for Bangladesh (36,800 MT), China (30,000 MT), Canada (24,300 MT), and Colombia (15,700 MT, including 7,000 MT switched from unknown destinations and decreases of 500 MT). Reductions were reported for unknown destinations (69,900 MT), Venezuela (1,400 MT), and the Philippines (400 MT).  For 2017-18, net sales of 57,700 MT were reported primarily for Colombia (30,000 MT), El Salvador (15,000 MT), and the Dominican Republic (7,000 MT).  Reductions were reported for Mexico (1,300 MT).
Weekly Export Details

Exports of 188,900 MT were up 64% from the previous week and 35% from the prior four-week average.  The destinations were primarily Colombia (40,400 MT), Mexico (34,900 MT), Canada (24,600 MT), Venezuela (18,600 MT), and Honduras (15,200 MT).

Comments and Performance Indicators Sales were within expectations. Export commitments for 2016-17 are running 2% behind year-ago compared with 2% behind year-ago the week prior. USDA projects exports in 2016-17 to be down 0.5% from the previous marketing year.

Soyoil
Actual Sales (in MT)

2016-17: 10,700

Trade Expectations (MT) 5,000-25,000
Weekly Sales Details Net sales of 10,700 MT for 2016-17 were down 28% from the previous week and 32% from the prior four-week average. Increases were reported for Mexico (5,600 MT), Guatemala (4,000 MT), Canada (500 MT), and the Dominican Republic (500 MT).
Weekly Export Details Exports of 31,600 MT were up 30% from the previous week and 97% from the prior four-week average.  The destinations were primarily South Korea (19,800 MT), Colombia (5,200 MT), Guatemala (4,000 MT), and Mexico (1,900 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2016-17 marketing year are running 8% behind year-ago, compared to 7% behind year-ago last week. USDA projects exports in 2016-17 to be up 7.0% from the previous year.

Cotton
Actual Sales (in RB) Combined: 70,800
2016-17: -55,700
2017-18: 126,500
Weekly Sales Details Net upland sales reductions of 55,700 RB for 2016-17--a marketing-year low--were down noticeably from the previous week and from the prior four-week average.  Increases were reported for Taiwan (3,000 RB), India (1,700 RB), Turkey (1,300 RB), and El Salvador (100 RB).  Reductions were reported for South Korea (20,200 RB), Vietnam (14,200 RB), Pakistan (11,500 RB), and Indonesia (6,100 RB).  For 2017-18, net sales of 126,500 RB reported for South Korea (22,400 RB), Mexico (20,800 RB), Vietnam (18,800 RB), and Bangladesh (14,800 RB), were partially offset by reductions for India (9,200 RB).
Weekly Export Details Exports of 275,300 RB were down 16% from the previous week, but unchanged from the prior four-week average.  The primary destinations were Turkey (73,600 RB), Vietnam (42,900 RB), Indonesia (28,800 RB), China (23,000 RB), and Mexico (23,000 RB).
Comments and Performance Indicators Export commitments for 2016-17 are 61% ahead of year-ago, compared to 62% ahead the previous week. USDA projects exports to be up 58.5% from the previous year at 14.500 million bales.

Beef
Actual Sales (in MT)

2017: 11,400

Weekly Sales Details Net sales of 11,400 MT reported for 2017 were down 18% from the previous week and from the prior four-week average.  Increases were reported for South Korea (3,900 MT), Canada (1,900 MT), Japan (1,800 MT), Mexico (1,400 MT), and Taiwan (1,100 MT).  Reductions were reported for Egypt (500 MT).
Weekly Export Details Exports of 15,000 MT were down 3% from the previous week, but up 6% from the prior four-week average.  The primary destinations were Japan (5,400 MT), South Korea (3,200 MT), Hong Kong (1,700 MT), Mexico (1,700 MT), and Canada (1,200 MT).
Comments and Performance Indicators Weekly export sales compare to 13,900 MT the week prior. USDA projects exports in 2017 to be up 10.2% from last year's total.

Pork
Actual Sales (in MT) 2017: 17,800
Weekly Sales Details Net sales of 17,800 MT reported for 2017 were down 7% from the previous week, but up 32% from the prior four-week average.  Increases were reported for South Korea (4,000 MT), Hong Kong (3,900 MT), Japan (3,500 MT), Mexico (2,900 MT), and Canada (1,400 MT).
Weekly Export Details Exports of 18,000 MT were unchanged from the previous week, but up 5% from the prior four-week average.  The destinations were primarily Mexico (7,400 MT), Japan (3,400 MT), Canada (1,900 MT), South Korea (1,200 MT), and Hong Kong (1,100 MT).
Comments and Performance Indicators

Export sales compare to a total of 19,100 MT the prior week. USDA projects exports in 2017 to be 9.7% above last year's total.

 

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