Soybean Export Sales Surge, Topping 2 MMT

Posted on 10/03/2019 7:52 AM

USDA Weekly Export Sales Report

Week Ended Sept. 26, 2019

Corn

Actual Sales (in MT)

Combined: 565,100
2019-20: 562,600
2020-21: 2,500

Expectations (in MT)

2019-20: 400,000-800,000

Weekly Sales Details

Net sales of 562,600 MT for 2019/2020, primarily for Mexico (361,100 MT, including 22,000 MT switched from unknown destinations and decreases of 2,100 MT), Japan (88,000 MT, including 37,000 MT switched from unknown destinations and decreases of 11,300 MT), Canada (44,000 MT, including decreases of 400 MT), unknown destinations (42,300 MT), and Jamaica (16,000 MT), were partially offset by reductions for Thailand (38,400 MT) and Costa Rica (300 MT).  For 2020/2021, total net sales of 2,500 MT were for Canada.

Weekly Export Details

Exports of 458,300 MT were primarily to Mexico (275,600 MT), Japan (138,900 MT), Taiwan (14,400 MT), Canada (11,700 MT), and Colombia (9,200 MT).

Comments and Performance Indicators

Export commitments early in the 2019-20 marketing year are 51% behind year-ago commitments versus 50% behind last week. USDA projects exports in 2019-20 at 2.050 billion bu., down 0.4% from the previous marketing year.

Wheat

Actual Sales (in MT)

2019-20: 328,500

Expectations (in MT)

2019-20: 200,000-600,000

Weekly Sales Details

Net sales of 328,500 metric tons for 2019/2020 were up 16% from the previous week, but down 12% from the prior 4-week average.  Increases primarily for the Philippines (61,400 MT, including decreases of 1,600 MT), Japan (56,800 MT), Brazil (43,700 MT, including 15,000 MT switched from unknown destinations), Thailand (42,000 MT), and Nigeria (39,800 MT, including decreases of 11,000 MT), were partially offset by reductions for unknown destinations (76,200 MT) and Singapore (22,000 MT).

Weekly Export Details

Exports of 567,700 MT were up 14% from the previous week and 15% from the prior 4-week average.  The destinations were primarily to Egypt (101,200 MT), Mexico (67,200 MT), Peru (62,300 MT), the Philippines (58,400 MT), and Italy (58,000 MT).  

Comments and Performance Indicators

Export commitments are running 14% ahead of year-ago compared with 15% 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: 2,076,100

Expectations (in MT)

2019-20: 900,000-1,400,000

Weekly Sales Details

Net sales of 2,076,100 MT for 2019/2020, primarily for China (1,557,800 MT), the Netherlands (125,400 MT, including 126,000 MT switched from unknown destinations and decreases of 800 MT), Indonesia (74,500 MT, including 55,000 MT switched from unknown destinations and decreases of 2,300 MT), Saudi Arabia (71,500 MT, including 65,000 MT switched from unknown destinations), and Pakistan (70,000 MT, including 65,000 MT switched from unknown destinations), were partially offset by reductions for unknown destinations (219,200 MT) and Spain (9,100 MT). 

Weekly Export Details

Exports of 917,400 MT were primarily to China (138,800 MT), the Netherlands (125,400 MT), Mexico (117,600 MT), Indonesia (78,500 MT), and Saudi Arabia (71,500 MT).  

Comments and Performance Indicators

Export commitments early in 2019-20 are 29% behind year-ago levels, which compares to 35% behind year-ago last week. USDA projects exports in 2019-20 at 1.775 billion bu., up 1.7% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 158,300
2018-19: 21,500
2019-20: 136,800

Expectations

2018-19: 0-100,000
2019-20: 50,000-250,000

Weekly Sales Details

Net sales of 21,500 MT for 2018/2019 resulting in increases for Morocco (30,000 MT), Canada (12,200 MT, including decreases of 300 MT), Jamaica (3,600 MT), Panama (3,000 MT), and the Philippines (2,700 MT), were partially offset by reductions for Japan (24,800 MT) and unknown destinations (15,000 MT).  For 2019/2020, net sales of 136,800 MT were primarily for Colombia (47,900 MT), Canada (39,500 MT), Japan (25,000 MT), Mexico (10,900 MT), and Burma (3,700 MT). 

Weekly Export Details

Exports of 180,200 MT were primarily to Colombia (68,700 MT), the Philippines (48,100 MT), Mexico (21,800 MT), Canada (15,400 MT), and Jamaica (6,800 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 1.9% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 00
2018-19: 2,500
2019-20: 00

Expectations

2018-19: 0-15,000
2019-20: 5,000-25,000

Weekly Sales Details

Net sales of 2,500 MT for 2018/2019 were down 46% from the previous week and 71% from the prior 4-week average.  Increases were for unknown destinations (900 MT), Mexico (500 MT), the Dominican Republic (500 MT), Canada (500 MT), and Trinidad (100 MT). 

Weekly Export Details

Exports of 10,000 MT were up noticeably from the previous week, but down 20% from the prior 4-week average.  The destinations were primarily to Guatemala (8,500 MT), Mexico (900 MT), and Canada (500 MT).  

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 14% behind year-ago, which compares to 14% 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: 189,300
2019-20: 177,800
2020-21: 7,500

Weekly Sales Details

Net sales of 177,800 RB for 2019/2020 were up 15% from the previous week and 49% from the prior 4-week average.  Increases were primarily for Pakistan (62,900 RB), Vietnam (24,000 RB, including 300 RB switched from Japan), Indonesia (21,500 RB, including 400 RB switched from Japan, 400 RB switched from China, and 300 RB switched from Vietnam), Turkey (18,200 RB), and Bangladesh (11,200 RB, including decreases of 1,100 RB).  Reductions were for El Salvador (600 RB).  For 2020/2021, net sales of 7,500 RB were reported for Bangladesh (6,600 RB) and Indonesia (900 RB).

Weekly Export Details

Exports of 154,700 RB were down 12% from the previous week and 16% from the prior 4-week average.  Exports were primarily to Vietnam (38,700 RB), Mexico (21,800 RB), Bangladesh (18,200 RB), Turkey (11,600 RB), and China (10,700 RB).  

Comments and Performance Indicators

Export commitments for 2019-20 are running 3% behind year-ago versus 5% behind year-ago last week. USDA forecasts total cotton exports to fall rise 11.8% to 16.5 million bales this marketing year.

Beef

Actual Sales (in MT)

Combined: 12,600
2019: 12,500
2020: 100

Weekly Sales Details

Net sales of 12,500 MT reported for 2019 were down 34% from the previous week and 30% from the prior 4-week average.  Increases were primarily for Japan (4,700 MT, including decreases of 300 MT), South Korea (3,700 MT, including decreases of 400 MT), Mexico (1,300 MT, including decreases of 100 MT), Taiwan (900 MT, including decreases of 100 MT), and Canada (600 MT).  For 2020, net sales of 100 MT were primarily for Japan.

Weekly Export Details

Exports of 16,400 MT were down 3% from the previous week, but up 1% from the prior 4-week average.  The destinations were primarily to South Korea (4,400 MT), Japan (3,900 MT), Mexico (2,000 MT), Hong Kong (1,800 MT), and Taiwan (1,200 MT).  

Comments and Performance Indicators

Last week, 2019 sales totaled 19,700 MT. USDA projects 2019 exports to slide 0.6% from year-ago levels.

Pork

Actual Sales (in MT)

Combined: 34,500
2019: 31,000
2020: 3,500

Weekly Sales Details

Net sales of 31,000 MT reported for 2019 were down 4% from the previous week, but up 44% from the prior 4-week average.  Increases primarily for Mexico (10,700 MT), South Korea (8,000 MT), Japan (3,700 MT), Canada (2,900 MT), and Colombia (1,700 MT), were partially offset by reductions for Guatemala (200 MT).  For 2020, total net sales of 3,500 MT were for China.

Weekly Export Details

Exports of 23,200 MT were down 6% from the previous week and 2% from the prior 4-week average.  The primary destinations were to Mexico (7,000 MT), China (6,000 MT), Japan (3,100 MT), South Korea (1,900 MT), and Canada (1,400 MT).

Comments and Performance Indicators

Sales for 2019 totaled 32,200 in last week’s report. USDA projects exports in 2019 will rise 11.1% from year-ago.

 

 

 

 

 

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