Another paltry wheat export sales tally

USDA Weekly Export Sales Report

Week Ended Nov. 25, 2021

Corn

Actual Sales (in MT)

2021-22: 1,020,800

Expectations (in MT)

2021-22: 600,000-1,250,000

Weekly Sales Details

Net sales of 1,020,800 MT for 2021/2022 were down 29 percent from the previous week and 12 percent from the prior 4-week average.  Increases primarily for Mexico (423,800 MT, including decreases of 10,200 MT), Canada (198,200 MT, including decreases of 1,100 MT), Japan (118,400 MT switched from unknown destinations), Colombia (88,900 MT, including 52,500 MT switched from unknown destinations and decreases of 53,500 MT), and Costa Rica (76,500 MT, including 9,300 MT switched from Guatemala and decreases of 4,100 MT), were offset by reductions for unknown destinations (4,200 MT).  Total net sales of 300 MT for 2022/2023 were for Costa Rica.

Weekly Export Details

Exports of 938,400 MT were up 1 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to Mexico (382,400 MT), China (138,000 MT), Japan (118,500 MT), Colombia (110,800 MT), and Canada (49,000 MT).

Comments and Performance Indicators

Export commitments are 7% behind year-ago, the same as last week. USDA projects exports in 2021-22 at 2.500 billion bu., 9.2% below the previous marketing year.

Wheat

Actual Sales (in MT)

2021-22: 79,900

Expectations (in MT)

2021-22: 250,000-600,000

Weekly Sales Details

Net sales of 79,900 metric tons (MT) for 2021/2022--a marketing-year low--were down 86 percent from the previous week and 80 percent from the prior 4-week average.  Increases primarily for Colombia (38,400 MT), Mexico (16,800 MT, including decreases of 2,300 MT), Malaysia (9,000 MT, including 10,400 MT switched from the Philippines and decreases of 1,800 MT), El Salvador (7,000 MT), and Guatemala (4,300 MT), were offset by reductions for Peru (1,400 MT), the Philippines (600 MT), and Indonesia (200 MT).  Total net sales of 26,000 MT for 2022/2023 were for Colombia.

Weekly Export Details

Exports of 371,400 MT were up 87 percent from the previous week and 66 percent from the prior 4-week average.  The destinations were primarily to the Philippines (184,400 MT), Taiwan (52,100 MT), Mexico (48,400 MT), Malaysia (28,400 MT), and Honduras (21,000 MT).

Comments and Performance Indicators

Export commitments are 22% behind year-ago, compared with 21% behind last week. USDA projects exports in 2021-22 at 860 million bu., down 13.3% from the previous marketing year.

Soybeans

Actual Sales (in MT)

2021-22: 1,063,400

Expectations (in MT)

2021-22: 800,000-1,800,000

Weekly Sales Details

Net sales of 1,063,400 MT for 2021/2022 were down 32 percent from the previous week and 29 percent from the prior 4-week average.  Increases primarily for China (657,100 MT, including 462,000 MT switched from unknown destinations and decreases of 3,200 MT), Egypt (68,000 MT, including 66,000 MT switched from unknown destinations and decreases of 4,900 MT), Thailand (67,600 MT, including 66,000 MT switched from unknown destinations), Germany (66,900 MT), and Bangladesh (62,000 MT, including 60,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (43,000 MT) and Turkey (9,800 MT).  Total net sales reductions of 48,000 MT for 2022/2023 were for unknown destinations.

Weekly Export Details

Exports of 2,327,100 MT were up 3 percent from the previous week, but down 14 percent from the prior 4-week average.  The destinations were primarily to China (1,410,200 MT), Egypt (311,400 MT), Taiwan (97,700 MT), Mexico (94,500 MT), and Thailand (71,200 MT).

Comments and Performance Indicators

Export commitments are 29% behind year-ago, which compares to 30% behind a week ago. USDA projects exports in 2021-22 at 2.050 billion bu., down 9.5% from year-ago.

Soymeal

Actual Sales (in MT)

2021-22: 146,700

Expectations

2021-22: 100,000-200,000

Weekly Sales Details

Net sales of 146,700 MT for 2021/2022 were up 7 percent from the previous week, but down 29 percent from the prior 4-week average.  Increases primarily for Guatemala (50,000 MT, including decreases of 800 MT), unknown destinations (28,000 MT), Mexico (24,800 MT, including decreases of 3,500 MT), the Dominican Republic (24,000 MT), and Canada (7,400 MT), were offset by reductions for Thailand (4,600 MT), Belgium (2,100 MT), Colombia (1,200 MT), and the Leeward Windward Islands (100 MT).  Net sales reductions of 1,000 MT for 2022/2023 were for Japan (600 MT) and the Netherlands (400 MT).

Weekly Export Details

Exports of 263,900 MT were down 5 percent from the previous week, but up 19 percent from the prior 4-week average.  The destinations were primarily to the Philippines (92,200 MT), Thailand (45,400 MT), Colombia (26,800 MT), Mexico (26,400 MT), and Canada (22,200 MT).

Comments and Performance Indicators

Export commitments are running 6% ahead of year-ago, compared with 7% ahead last week. USDA projects exports in 2021-22 will climb 3.1% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2021-22: 49,300

Expectations

2021-22: 30,000-60,000

Weekly Sales Details

Net sales of 49,300 MT for 2021/2022 were up 17 percent from the previous week and 50 percent from the prior 4-week average.  Increases primarily for India (30,000 MT), Algeria (22,000 MT switched from unknown destinations), Mexico (19,200 MT), Guatemala (18,000 MT), and the Dominican Republic (600 MT), were offset by reductions for unknown destinations (22,000 MT) and Morocco (19,000 MT).

Weekly Export Details

Exports of 44,400 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were to Algeria (22,000 MT), South Korea (19,000 MT), Mexico (2,900 MT), and Canada (500 MT).

Comments and Performance Indicators

Export commitments are running 22% behind last year compared with 35% behind last week. USDA projects exports will fall 27.5% this season.

Cotton

Actual Upland Sales (in RB)

2021-22: 374,900

Weekly Sales Details

Net sales of 374,900 RB for 2021/2022 were up 90 percent from the previous week and up noticeably from the prior 4-week average.  Increases primarily for Vietnam (147,100 RB, including 1,600 RB switched from China, 200 RB switched from Japan, and decreases of 200 RB), China (123,600 RB), Turkey (55,000 RB), Pakistan (36,600 RB), and South Korea (2,300 RB, including 1,800 RB switched from Vietnam), were offset by reductions for Malaysia (200 RB). Net sales of Pima totaling 6,400 RB--a marketing-year low--were down 65 percent from the previous week and 67 percent from the prior 4-week average.  Increases primarily for China (2,600 RB), Thailand (1,300 RB), India (1,000 RB), Vietnam (900 RB), and Egypt (400 RB), were offset by reductions for Bangladesh (900 RB).

Weekly Export Details

Upland exports of 71,400 RB were down 27 percent from the previous week and 29 percent from the prior 4-week average.  The destinations were primarily to China (23,700 RB), Mexico (14,800 RB), Vietnam (9,000 RB), Turkey (6,000 RB), and Pakistan (5,800 RB).  Pima exports of 2,300 RB were down 63 percent from the previous week and 69 percent from the prior 4-week average.  The destinations were to India (1,000 RB), Turkey (400 RB), Pakistan (400 RB), Thailand (400 RB), and Peru (100 RB).

Comments and Performance Indicators

Export commitments are 5% behind year-ago, compared with 6% behind last week. USDA forecasts total cotton exports will fall 5.3% from year-ago to 15.50 million bales in 2021-22.

Beef

Actual Sales (in MT)

2021: 21,600
2022: 10,400

Weekly Sales Details

Net sales of 21,600 MT for 2021 were up 12 percent from the previous week and 5 percent from the prior 4-week average.  Increases primarily for South Korea (10,700 MT, including decreases of 3,100 MT), China (3,300 MT, including decreases of 300 MT), Japan (2,900 MT, including decreases of 800 MT), Mexico (2,000 MT), and Chile (900 MT), were offset by reductions for Italy (100 MT) and Thailand (100 MT).  Net sales of 10,400 MT for 2022 primarily for South Korea (7,000 MT), Japan (2,200 MT), Vietnam (300 MT), Taiwan (300 MT), and Hong Kong (200 MT), were offset by reductions for China (100 MT).

Weekly Export Details

Exports of 16,500 MT were down 9 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to South Korea (4,500 MT), Japan (4,000 MT), China (3,000 MT), Taiwan (1,500 MT), and Mexico (1,200 MT).

Comments and Performance Indicators

USDA projects 2021 exports will climb 17.1% from year-ago to a record level.

Pork

Actual Sales (in MT)

2021: 41,400
2022: 4,100

Weekly Sales Details

Net sales of 41,400 MT for 2021 were up noticeably from the previous week and up 48 percent from the prior 4-week average.  Increases were primarily for Mexico (19,600 MT, including decreases of 600 MT), China (12,400 MT, including decreases of 300 MT), Japan (3,700 MT, including decreases of 100 MT), South Korea (1,600 MT, including decreases of 200 MT), and Colombia (1,100 MT, including decreases of 100 MT).  Net sales of 4,100 MT for 2022 were primarily for South Korea (1,500 MT), Canada (1,300 MT), Chile (400 MT), Colombia (300 MT), and Mexico (200 MT).

Weekly Export Details

Exports of 36,500 MT were up 26 percent from the previous week and 13 percent from the prior 4-week average.  The destinations were primarily to Mexico (19,800 MT), Japan (4,700 MT), South Korea (3,200 MT), China (3,100 MT), and Colombia (1,900 MT).

Comments and Performance Indicators

USDA projects exports in 2021 will drop 1.2% from last year.