Light Export Demand the Week of the Fourth

Posted on 07/11/2019 7:35 AM

USDA Weekly Export Sales Report

Week Ended July 4, 2019

Corn

Actual Sales (in MT)

Combined: 397,000
2018-19: 505,400
2019-20: -108,400

Expectations (in MT)

2018-19: 150,00-400,000
2019-20: 100,000-300,000

Weekly Sales Details

Net sales of 505,400 MT for 2018-19 were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for Japan (444,800 MT, including 51,800 MT switched from unknown destinations, decreases of 1,000 MT, and 379,200 MT late reporting), Colombia (84,800 MT, including 45,000 MT switched from unknown destinations), Mexico (33,200 MT, including 25,000 MT switched from unknown destinations and decreases of 25,500 MT), Panama (8,000 MT, switched from unknown destinations), and Honduras (2,000 MT).  Reductions were reported for unknown destination (64,300 MT) and the French West Indies (7,400 MT).  For 2019-20, net sales reductions of 108,400 MT resulting in increases for the French West Indies (7,400 MT) and unknown destinations (4,300 MT), were more than offset by reductions for Japan (120,000 MT).

Weekly Export Details

Exports of 1,135,800 MT were up noticeably from the previous week and up 80% from the prior 4-week average.  The destinations were primarily to Japan (737,400 MT, including 379,200 MT late reporting), Mexico (224,400 MT), Colombia (122,400 MT), Canada (21,000 MT), and Taiwan (15,700 MT).

Comments and Performance Indicators

Export commitments are running 15% behind year-ago versus 15% behind 2017-18 levels the previous week. USDA projects exports in 2018-19 at 2.200 billion bu., down 9.8% from the previous marketing year.

Wheat

Actual Sales (in MT)

2019-20: 284,400

Expectations (in MT)

2019-20: 250,000-550,000

Weekly Sales Details

Net sales of 284,400 metric tons were reported for delivery in marketing year 2019-20.  The primary destinations were the Philippines (123,700 MT, including decreases of 14,800 MT), Mexico (65,200 MT, including decreases of 1,600 MT), Thailand (55,000 MT), Algeria (33,800 MT, including 29,400 MT switched from unknown destinations), and Guatemala (29,900 MT, switched from unknown destinations).  Reductions were reported for unknown destinations (76,000 MT), Nigeria (14,200 MT), Japan (12,900 MT), and Ecuador (5,000 MT).

Weekly Export Details

Exports of 659,200 MT were primarily to the Philippines (164,200 MT), Algeria (92,300 MT), Mexico (84,400 MT), Nigeria (76,900 MT), and Japan (59,500 MT).

Comments and Performance Indicators

Export commitments are running 22% ahead of year-ago. USDA projects exports in 2019-20 at 900 million bu., down 5.3% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 261,700
2018-19: 132,200
2019-20: 129,500

Expectations (in MT)

2018-19: 200,000-400,000
2019-20: 50,000-350,000

Weekly Sales Details

Net sales of 132,200 MT for 2018-19 were down 84% from the previous week and 70% from the prior 4-week average.  Increases were reported for China (127,800 MT, including 140,000 MT switched from unknown destinations and decreases of 12,200 MT), Indonesia (68,900 MT, including 68,000 MT switched from unknown destinations and decreases of 6,400 MT), the Netherlands (67,900 MT, including 67,000 MT switched from unknown destinations), Germany (63,900 MT), and Japan (52,800 MT, including 26,900 MT switched from unknown destinations and decreases of 1,700 MT).  Reductions were reported for unknown destinations (348,700 MT).  For 2019-20, net sales of 129,500 MT were reported for unknown destinations (74,500 MT), Taiwan (38,000 MT), Japan (15,000 MT), and Indonesia (2,000 MT).

Weekly Export Details

Exports of 692,400 MT were down 5% from the previous week and 6% from the prior 4-week average.  The destinations were primarily to China (181,600 MT), Japan (97,800 MT), the Netherlands (87,400 MT), Indonesia (79,700 MT), and Mexico (65,100 MT).

Comments and Performance Indicators

Export commitments are running 15% behind the 2017-18 marketing year. USDA projects exports in 2018-19 at 1.700 billion bu., down 20.2% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 52,600
2018-19: 44,900
2019-20: 7,700

Expectations

2018-19: 50,000-200,000
2019-20: 0-100,000

Weekly Sales Details

Net sales of 44,900 MT for 2018-19 were up noticeably from the previous week, but down 33% from the prior 4-week average.  Increases were reported for Colombia (21,900 MT), Canada (9,900 MT), Costa Rica (9,200 MT, switched from Honduras), Jamaica (3,300 MT), and Panama (2,700 MT, including 2,500 MT switched from Colombia).  Reductions were for Honduras (9,200 MT) and Vietnam (400 MT).  For 2019-20, net sales of 7,700 MT were primarily for Canada (4,500 MT).

Weekly Export Details

Exports of 111,000 MT were down 44% from the previous week and 30% from the prior 4-week average.  The destinations were primarily to the Philippines (45,800 MT), Mexico (23,400 MT), Canada (11,800 MT), Costa Rica (9,200 MT), and Colombia (6,100 MT).

Comments and Performance Indicators

Export commitments for 2018-19 are running 2% behind year-ago. USDA projects exports in 2018-19 to be down 0.4% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 8,600
2018-19: 8,500
2019-20: 100

Expectations

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

Weekly Sales Details

Net sales of 8,500 MT for 2018-19 were down 57% from the previous week and 30% from the prior 4-week average.  Increases were reported for Guatemala (5,000 MT), Mexico (3,300 MT), and Canada (200 MT).  For 2019-20, total net sales of 100 MT were for Mexico. 

Weekly Export Details

Exports of 30,800 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were to South Korea (12,000 MT), the Dominican Republic (7,000 MT), Guatemala (5,500 MT), and Jamaica (3,500 MT).

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 18% behind year-ago. USDA projects exports in 2018-19 to be down 12.1% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 91,800
2018-19: 53,400
2019-20: 38,400

Weekly Sales Details

Net sales of 53,400 RB for 2018-19 were down 62% from the previous week, but up 26% from the prior 4-week average.  Increases were primarily for Vietnam (36,100 RB, including decreases of 2,200 RB), Turkey (12,900 RB), Indonesia (8,400 RB), and India (6,700 RB).  Reductions were primarily for China (10,000 RB), Japan (2,000 RB), and Thailand (1,100 RB).  For 2019-20, net sales of 38,400 RB were primarily for Indonesia (9,200 RB), Taiwan (8,700 RB), Vietnam (6,500 RB), South Korea (3,500 RB), and Thailand (3,400 RB). 

Weekly Export Details

Exports of 333,200 RB were down 2% from the previous week and 1% from the prior 4-week average.  Exports were primarily to India (79,100 RB), Vietnam (69,000 RB), Turkey (59,100 RB), Bangladesh (26,300 RB), and China (17,900 RB). 

Comments and Performance Indicators

Export commitments for 2018-19 are running 6% behind year-ago, versus 6% behind the week prior. USDA forecasts total cotton exports to fall 6.9% to 14.75 million bales this marketing year.

Beef

Actual Sales (in MT)

2019: 21,500

Weekly Sales Details

Net sales of 21,500 MT reported for 2019 were up 15% from the previous week and 26% from the prior 4-week average.  Increases were reported for South Korea (6,600 MT, including decreases of 500 MT), Ethiopia (6,000 MT), Japan (4,600 MT, including decreases of 300 MT), Taiwan (2,000 MT, including decreases of 100 MT), and Mexico (700 MT).

Weekly Export Details

Exports of 14,900 MT were down 16% from the previous week and 17% from the prior 4-week average.  The primary destinations were Japan (5,200 MT), South Korea (4,600 MT), Mexico (1,600 MT), Taiwan (1,200 MT), and Hong Kong (700 MT).

Comments and Performance Indicators

Last week, sales totaled 19,600 MT. USDA projects 2019 exports to rise 0.2% from year-ago levels.

Pork

Actual Sales (in MT)

Combined: 11,400
2019: 11,300
2020: 100

Weekly Sales Details

Net sales of 11,300 MT reported for 2019 were down 52% from the previous week and 53% from the prior 4-week average.  Increases primarily for Japan (4,000 MT), Mexico (3,200 MT), South Korea (1,400 MT), Canada (600 MT), and the Philippines (600 MT), were partially offset by reductions for Guatemala (200 MT).  For 2020, total net sales of 100 MT were for Australia.

Weekly Export Details

Exports of 25,100 MT were down 7% from the previous week and 3% from the prior 4-week average.  The primary destinations were China (8,000 MT), Mexico (6,200 MT), Japan (3,000 MT), South Korea (2,400 MT), and Canada (1,400 MT).

Comments and Performance Indicators

Sales totaled 23,500 in last week’s report. USDA projects exports in 2019 will rise 10.2% from year-ago.

 

 

 

 

 

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