Solid Sales of New-crop Soybeans

Posted on 08/15/2019 8:09 AM

USDA Weekly Export Sales Report

Week Ended Aug. 8, 2019

Corn

Actual Sales (in MT)

Combined: 363,700
2018-19: 56,100
2019-20: 307,600

Expectations (in MT)

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

Weekly Sales Details

Net sales of 56,100 MT for 2018-19 were up 32% from the previous week, but down 56% from the prior 4-week average.  Increases were primarily for Japan (107,000 MT, including 74,800 MT switched from unknown destinations and decreases of 600 MT), Mexico (86,000 MT, including decreases of 42,100 MT), New Zealand (28,600 MT, including 26,500 MT switched from unknown destinations), Costa Rica (20,000 MT), and El Salvador (16,500 MT, including 13,100 MT switched from Guatemala).  Reductions were reported for unknown destinations (151,300 MT), China (60,000 MT), and Guatemala (20,000 MT).  For 2019-20, net sales of 307,600 MT resulting in increases for Mexico (80,300 MT), unknown destinations (79,300 MT), China (60,000 MT), and Japan (53,500 MT), were partially offset by reductions for Canada (2,300 MT).

Weekly Export Details

Exports of 707,900 MT were up 2% from the previous week and 7% from the prior 4-week average.  The destinations were primarily to Mexico (384,800 MT), Japan (85,000 MT), Colombia (49,300 MT), Guatemala (39,700 MT), and Honduras (30,200 MT). 

Comments and Performance Indicators

Export commitments are running 17% behind year-ago versus 17% behind 2017-18 levels the previous week. USDA projects exports in 2018-19 at 2.100 billion bu., down 13.9% from the previous marketing year.

Wheat

Actual Sales (in MT)

Combined: 474,500
2019-20: 462,200
2020-21: 12,300

Expectations (in MT)

2019-20: 250,000-500,000

Weekly Sales Details

Net sales of 462,200 metric tons for 2019/2020 were down 5 percent from the previous week and 2 percent from the prior 4-week average.  Increases were primarily for Japan (106,700 MT, including 10,000 MT switched from unknown destinations and decreases of 700 MT), South Korea (106,200 MT), Sri Lanka (75,000 MT), Vietnam (57,300 MT), and Italy (42,000 MT).  Reductions were primarily for unknown destinations (126,500 MT).  For 2020/2021, total net sales of 12,300 MT were for unknown destinations (7,500 MT) and the Leeward and Windward Islands (4,800 MT).

Weekly Export Details

Exports of 636,900 MT were up 73% from the previous week and 63% from the prior 4-week average.  The destinations were primarily to Mexico (121,200 MT), Japan (103,600 MT), Thailand (57,900 MT), Taiwan (52,800 MT), and the Philippines (51,500 MT). 

Comments and Performance Indicators

Export commitments are running 18% ahead of year-ago compared with 24% 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)

Combined: 707,500
2018-19: -109,900
2019-20: 817,400

Expectations (in MT)

2018-19: 50,000-300,000
2019-20: 100,000-400,000

Weekly Sales Details

Net sales reductions of 109,900 MT for 2018-19 were down noticeably from the previous week and from the prior 4-week average.  Increases were primarily for the Netherlands (127,000 MT, including 130,000 MT switched from unknown destinations and decreases of 4,600 MT), Pakistan (71,400 MT, including 68,000 MT switched from China), Japan (62,900 MT, including 9,800 MT switched from unknown destinations and decreases of 1,300 MT), Germany (56,200 MT), and Taiwan (37,500 MT, including decreases of 1,300 MT).  Reductions were primarily for China (422,700 MT) and unknown destinations (124,000 MT).  For 2019-20, net sales of 817,400 MT resulting in increases for unknown destinations (586,000 MT), Mexico (104,400 MT), Pakistan (57,000 MT), Egypt (55,000 MT), and Malaysia (23,000 MT), were partially offset by reductions for Taiwan (30,500 MT). 

Weekly Export Details

Exports of 1,111,700 MT were up 16% from the previous week and 30% from the prior 4-week average.  The destinations were primarily to China (599,300 MT), the Netherlands (147,500 MT), Pakistan (71,400 MT), Mexico (67,500 MT), and Germany (56,200 MT).

Comments and Performance Indicators

Export commitments are running 17% behind the 2017-18 marketing year versus 17% behind the week prior. USDA projects exports in 2018-19 at 1.700 billion bu., down 20.3% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 274,300
2018-19: 130,100
2019-20: 144,200

Expectations

2018-19: 75,000-200,000
2019-20: 100,000-200,000

Weekly Sales Details

Net sales of 130,100 MT were up 41% from the previous week and 45% from the prior 4-week average.  Increases were primarily for Japan (55,500 MT), Ecuador (31,600 MT, including 30,000 MT switched from unknown destinations), Canada (25,500 MT), Mexico (17,200 MT), and Honduras (11,800 MT, including 6,000 MT switched from Guatemala and decreases of 700 MT).  Reductions were reported for unknown destinations (45,000 MT).  For 2019-20, net sales of 144,200 MT were primarily for the Philippines (136,500 MT), Canada (5,500 MT), and Burma (1,500 MT). 

Weekly Export Details

Exports of 270,400 MT were up 63% from the previous week and 57% from the prior 4-week average.  The destinations were primarily to Vietnam (54,000 MT), the Philippines (53,200 MT), Ecuador (31,600 MT), Mexico (30,100 MT), and Guatemala (23,000 MT).

Comments and Performance Indicators

Export commitments for 2018-19 are running 4% behind year-ago, which compares to 3% 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)

2018-19: 1,400

Expectations

2018-19: 8,000-22,000
2019-20: 0-10,000

Weekly Sales Details

Net sales of 1,400 MT for 2018-19--a marketing-year low--were down 96% from the previous week and 91% from the prior 4-week average.  Increases were primarily for Mexico (800 MT) and Canada (500 MT). 

Weekly Export Details

Exports of 3,200 MT were up 91% from the previous week, but down 76% from the prior 4-week average.  The destinations were primarily to Mexico (2,600 MT) and Canada (500 MT).

Comments and Performance Indicators

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

Cotton

Actual Sales (in RB)

Combined: 480,300
2019-20: 329,100
2020-21: 151,200

Weekly Sales Details

Net sales of 329,100 RB for 2019-20 were primarily for Bangladesh (120,400 RB), Vietnam (76,700 RB, including 400 RB switched from Japan), Turkey (41,900 RB, including decreases of 800 RB), Mexico (21,300 RB), and Malaysia (16,900 RB).  Reductions were reported for China (13,300 RB).  For 2020-21, net sales of 151,200 RB were primarily for China (117,900 RB), Mexico (16,300 RB) and Vietnam (14,500 RB). 

Weekly Export Details

Exports of 274,200 RB were primarily to Vietnam (57,700 RB), India (46,500 RB), Turkey (43,500 RB), Bangladesh (30,500 RB), and Indonesia (21,500 RB).

Comments and Performance Indicators

Export commitments for 2019-20 are running 7% behind year-ago versus 10% 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: 16,300
2019: 16,200
2020: 100

Weekly Sales Details

Net sales of 16,200 MT were down 27% from the previous week, but up 3% from the prior 4-week average.  Increases were primarily for Japan (5,300 MT, including decreases of 300 MT), Mexico (2,600 MT), Taiwan (2,000 MT, including decreases of 100 MT), Hong Kong (1,800 MT, including decreases of 200 MT), and South Korea (1,300 MT, including decreases of 400 MT).  For 2020, net sales of 100 MT were for Japan.

Weekly Export Details

Exports of 15,600 MT were down 14% from the previous week and 12% from the prior 4-week average.  The primary destinations were Japan (4,900 MT), South Korea (4,400 MT), Mexico (1,600 MT), Taiwan (1,400 MT), and Canada (1,200 MT).

Comments and Performance Indicators

Last week, sales totaled 22,000 MT. USDA projects 2019 exports to slide 0.3% from year-ago levels.

Pork

Actual Sales (in MT)

2019: 20,400

Weekly Sales Details

Net sales of 20,400 MT reported for 2019 were up 48% from the previous and 25% from the prior 4-week average.  Increases were primarily for China (10,200 MT), Japan (4,400 MT), Mexico (2,600 MT), South Korea (1,700 MT), and the Philippines (700 MT).  Reductions were reported for Canada (400 MT). 

Weekly Export Details

Exports of 26,400 MT were down 1% from the previous week and 3% from the prior 4-week average. The primary destinations were to Mexico (7,200 MT), China (6,800 MT), Japan (3,400 MT), South Korea (2,600 MT), and Canada (1,600 MT).

Comments and Performance Indicators

Sales totaled 14,100 in last week’s report. USDA projects exports in 2019 will rise 9.6% from year-ago.

 

 

 

 

 

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