Corn, soybean and wheat export sales improve notably

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USDA Weekly Export Sales Report

Week Ended Dec. 2, 2021

Corn

Actual Sales (in MT)

2021-22: 1,132,500

Expectations (in MT)

2021-22: 600,000-1,400,000

Weekly Sales Details

Net sales of 1,132,500 MT for 2021/2022 were up 11 percent from the previous week and 2 percent from the prior 4-week average.  Increases were primarily for Canada (258,400 MT, including decreases of 100 MT), Colombia (244,800 MT, including 50,000 MT switched from unknown destinations and decreases of 13,500 MT), China (202,100 MT, including 133,600 MT switched from unknown destinations), Mexico (65,600 MT, including decreases of 5,500 MT), and Peru (62,000 MT).

Weekly Export Details

Exports of 904,600 MT were down 4 percent from the previous week and from the prior 4-week average.  The destinations were primarily to Mexico (388,900 MT), China (136,700 MT), Canada (119,500 MT), Colombia (73,300 MT), and Honduras (62,000 MT).

Comments and Performance Indicators

Export commitments are 8% behind year-ago, versus 7% behind 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: 239,900

Expectations (in MT)

2021-22: 50,000-400,000

Weekly Sales Details

Net sales of 239,900 metric tons (MT) for 2021/2022 were up noticeably from the previous week, but down 27 percent from the prior 4-week average.  Increases primarily for Guatemala (68,700 MT, including 38,000 switched from unknown destinations and decreases of 1,400 MT), Thailand (60,000 MT), the Philippines (56,000 MT), Mexico (51,900 MT, including decreases of 3,900 MT), and Colombia (26,000 MT, including decreases of 3,500 MT), were offset by reductions for unknown destinations (53,000 MT).

Weekly Export Details

Exports of 213,400 MT were down 43 percent from the previous week and 25 percent from the prior 4-week average.  The destinations were primarily to South Korea (75,600 MT), Guatemala (39,800 MT), Mexico (31,600 MT), Honduras (22,500 MT), and Taiwan (21,900 MT). 

Comments and Performance Indicators

Export commitments are 23% behind year-ago, compared with 22% 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: 1,637,900

Expectations (in MT)

2021-22: 1,000,000-1,700,000

Weekly Sales Details

Net sales of 1,637,900 MT for 2021/2022 were up 54 percent from the previous week and 27 percent from the prior 4-week average.  Increases primarily for China (893,400 MT, including 334,000 MT switched from unknown destinations, 61,000 MT switched from the Netherlands, and decreases of 2,100 MT), Egypt (226,800 MT, including 55,000 MT switched from unknown destinations and decreases of 4,200 MT), Spain (134,200 MT, including 125,000 MT switched from unknown destinations), Mexico (96,800 MT, including decreases of 1,600 MT), and Indonesia (93,300 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), were offset by reductions primarily for unknown destinations (306,400 MT).

Weekly Export Details

Exports of 2,433,900 MT were up 5 percent from the previous week, but down 7 percent from the prior 4-week average.  The destinations were primarily to China (1,470,600 MT), Spain (134,200 MT), the Netherlands (130,300 MT), Mexico (126,900 MT), and Taiwan (93,200 MT).

Comments and Performance Indicators

Export commitments are 27% behind year-ago, which compares to 29% 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: 202,500

Expectations

2021-22: 100,000-250,000

Weekly Sales Details

Net sales of 202,500 MT for 2021/2022 were up 38 percent from the previous week and 9 percent from the prior 4-week average.  Increases primarily for Colombia (83,100 MT, including decreases of 8,300 MT), Venezuela (29,100 MT, including 6,500 MT switched from unknown destinations), Jamaica (17,500 MT), Mexico (16,400 MT), and Peru (10,000 MT), were offset by reductions primarily for unknown destinations (4,900 MT), the Dominican Republic (2,800 MT), and El Salvador (1,000 MT).  Net sales of 2,800 MT for 2022/2023 were reported for Japan (1,200 MT), the Netherlands (800 MT), and Canada (800 MT).

Weekly Export Details

Exports of 305,200 MT--a marketing-year high--were up 16 percent from the previous week and 30 percent from the prior 4-week average.  The destinations were primarily to the Philippines (109,300 MT), Canada (32,500 MT), Venezuela (29,100 MT), the Dominican Republic (22,900 MT), and Colombia (22,400 MT).  

Comments and Performance Indicators

Export commitments are running 7% ahead of year-ago, compared with 6% 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: 5,300

Expectations

2021-22: 5,000-40,000

Weekly Sales Details

Net sales of 5,300 MT for 2021/2022 were down 89 percent from the previous week and 87 percent from the prior 4-week average.  Increases were reported for Mexico (2,200 MT), Honduras (2,000 MT), the Dominican Republic (600 MT), and Canada (500 MT).  Total net sales of 100 MT for 2022/2023 were for Canada.

Weekly Export Details

Exports of 31,700 MT were down 29 percent from the previous week, but up 81 percent from the prior 4-week average.  The destinations were to India (30,000 MT), Mexico (1,000 MT), Canada (600 MT), and Honduras (100 MT).

Comments and Performance Indicators

Export commitments are running 23% behind last year compared with 22% behind last week. USDA projects exports will fall 27.5% this season.

Cotton

Actual Upland Sales (in RB)

2021-22: 382,600

Weekly Sales Details

Net sales of 382,600 RB for 2021/2022 were up 2 percent from the previous week and 83 percent from the prior 4-week average.  Increases were primarily for China (147,700 RB), Turkey (96,100 RB), Vietnam (68,400 RB, including 200 RB switched from Japan), Pakistan (25,300 RB), and Thailand (11,700 RB).  Net sales of 18,100 RB for 2022/2023 primarily for Pakistan (15,000 RB), were offset by reductions for China (1,200 RB).

Weekly Export Details

Exports of 114,800 RB were up 61 percent from the previous week and 37 percent from the prior 4-week average.  The destinations were primarily to China (32,400 RB), Mexico (16,000 RB), Turkey (10,200 RB), Peru (7,900 RB), and Indonesia (7,700 RB).  Net sales of Pima totaling 7,100 RB were up 10 percent from the previous week, but down 45 percent from the prior 4-week average.  Increases were primarily for Vietnam (3,500 RB), Pakistan (1,300 RB), India (500 RB), China (400 RB, including decreases of 900 RB), and Thailand (400 RB).

Comments and Performance Indicators

Export commitments are 5% behind year-ago, the same as 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: 4,200
2022: 10,400

Weekly Sales Details

Net sales of 4,200 MT for 2021--a marketing-year low--were down 80 percent from the previous week and 81 percent from the prior 4-week average.  Increases primarily for Canada (2,100 MT), China (2,000 MT, including decreases of 300 MT), Japan (1,800 MT, including decreases of 400 MT), Taiwan (700 MT, including decreases of 100 MT), and Mexico (700 MT, including decreases of 200 MT), were offset by reductions for South Korea (4,300 MT).  Net sales of 10,400 MT for 2022 were primarily for South Korea (8,200 MT), Taiwan (500 MT), Mexico (400 MT), Japan (300 MT), and China (300 MT).

Weekly Export Details

Exports of 16,700 MT were up 1 percent from the previous week, but down 5 percent from the prior 4-week average.  The destinations were primarily to South Korea (4,400 MT), Japan (4,000 MT), China (3,300 MT), Taiwan (1,600 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: 19,800
2022: 700

Weekly Sales Details

Net sales of 19,800 MT for 2021 were down 52 percent from the previous week and 26 percent from the prior 4-week average.  Increases primarily for Mexico (11,700 MT, including decreases of 600 MT), Japan (3,700 MT, including decreases of 400 MT), South Korea (1,400 MT, including decreases of 200 MT), the Dominican Republic (700 MT, including decreases of 400 MT), and Colombia (500 MT, including decreases of 100 MT), were offset by reductions for Australia (200 MT), China (100 MT), and Peru (100 MT).  Net sales of 700 MT for 2022 primarily for Colombia (400 MT), Japan (300 MT), Australia (200 MT), and South Korea (100 MT), were offset by reductions for Canada (300 MT).

Weekly Export Details

Exports of 33,500 MT were down 8 percent from the previous week, but up 2 percent from the prior 4-week average.t The destinations were primarily to Mexico (17,000 MT), Japan (5,000 MT), China (3,600 MT), South Korea (2,900 MT), and Colombia (1,500 MT).  ­­

Comments and Performance Indicators

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

 

 

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