Cotton export sales impress

USDA Weekly Export Sales Report

Week Ended Sept. 2, 2021

Corn

Actual Sales (in MT)

2021-22: 905,800

Expectations (in MT)

2020-21: -100,000-50,000
2021-22: 600,000-1,200,000

Weekly Sales Details

Net sales for the 2021-22 marketing year, which began Sept. 1, totaled 905,800 MT.  Increases were primarily for Mexico (334,100 MT, including decreases of 1,800 MT), unknown destinations (234,900 MT), Canada (176,200 MT, including decreases of 2,500 MT), Colombia (63,500 MT), and Japan (60,300 MT, including decreases of 10,200 MT), were offset by reductions for Costa Rica (1,000 MT). 

A total of 2,978,100 MT in sales were carried over from the 2020-21 marketing year, which ended Aug. 31. 

Weekly Export Details

Exports for the period ending Aug. 31 of 256,000 MT brought accumulated exports to 66,957,900 MT, up 55% from the prior year’s total of 43,273,800 MT.  The primary destinations were to Mexico (117,000 MT), Japan (90,200 MT), Venezuela (19,100 MT), Canada (17,100 MT), and Guyana (8,000 MT). 

Exports for Sept. 1-2 totaled 167,900 MT, with Mexico (140,100 MT), Canada (27,500 MT), and Hong Kong (200 MT) being the primary destinations.

Comments and Performance Indicators

Export commitments are 29% ahead of year-ago to kick off the new marketing year. USDA projects exports in 2021-22 at 2.400 billion bu., 13.5% behind the previous marketing year.

Wheat

Actual Sales (in MT)

2021-22: 388,400

Expectations (in MT)

2021-22: 200,000-450,000

Weekly Sales Details

Net sales of 388,400 metric tons (MT) for 2021-22 were up 32% from the previous week and 54% from the prior four-week average.  Increases primarily for Mexico (128,100 MT, including decreases of 12,500 MT), the Philippines (63,000 MT), Japan (54,800 MT), Thailand (50,000 MT), and Venezuela (30,100 MT, including 29,300 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (20,800 MT).

Exports of 390,100 MT were down 7% from the previous week and 33% from the prior four-week average.  The destinations were primarily to Mexico (106,600 MT), the Philippines (63,000 MT), Taiwan (57,200 MT), Guatemala (33,500 MT), and South Korea (33,300 MT).

Comments and Performance Indicators

Export commitments are 23% behind year-ago, compared with 23% behind last week. USDA projects exports in 2021-22 at 875 million bu., down 11.8% from the previous marketing year.

Soybeans

Actual Sales (in MT)

2021-22: 1,471,900

Expectations (in MT)

2020-21: -100,000-50,000
2021-22: 1,000,000-1,600,000

Weekly Sales Details

Net sales for the 2021-22 marketing year, which began Sept. 1, totaled 1,471,900 MT.  Increases were primarily for China (764,000 MT), unknown destinations (453,600 MT), Mexico (79,100 MT, including decreases of 400 MT), Turkey (55,000 MT), and Egypt (55,000 MT). 

A total of 1,805,800 MT in sales were carried over from the 2020-21 marketing year, which ended Aug. 31.

Weekly Export Details

Exports for the period ending Aug. 31 of 283,100 MT brought accumulated exports to 60,570,500 MT, up 35% from the prior year’s total of 44,934,500 MT.  The primary destinations were Germany (152,200 MT), Japan (58,100 MT), Mexico (42,700 MT), Indonesia (9,200 MT), and Taiwan (8,100 MT). 

Exports for Sept. 1-2 totaled 13,800 MT, with Mexico (10,500 MT), Malaysia (2,200 MT), the Philippines (600 MT), Japan (300 MT), and Indonesia (200 MT) being the destinations.

Comments and Performance Indicators

Export commitments are 30% behind year-ago at the start of the marketing year. USDA projects exports in 2021-22 at 2.055 billion bu., down 9.1% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 109,000
2020-21: 60,700
2021-22: 48,300

Expectations

2020-21: 0-100,000
2021-22: 75,000-300,000

Weekly Sales Details

Net sales of 60,700 MT for 2020-21 were up noticeably from the previous week, but down 9% from the prior four-week average.  Increases primarily for Mexico (24,100 MT, including decreases of 200 MT), Malaysia (8,500 MT), Canada (6,100 MT, including decreases of 200 MT), Taiwan (5,800 MT), and the Philippines (5,200 MT), were offset by reductions primarily for unknown destinations (8,300 MT).  For 2021-22, net sales of 48,300 MT primarily for Japan (20,500 MT), the Dominican Republic (15,000 MT), Canada (9,100 MT), Colombia (8,600 MT), and Jamaica (8,000 MT), were offset by reductions primarily for unknown destinations (19,000 MT). 

Exports of 44,300 MT were down 77% from the previous week and 80% from the prior four-week average.  The destinations were primarily to Canada (16,700 MT), Mexico (13,100 MT), Guyana (4,200 MT), Venezuela (3,100 MT), and Burma (2,400 MT).

Comments and Performance Indicators

Export commitments are steady with year-ago vs. 1% behind year-ago the week prior. USDA projects exports in 2020-21 will climb 1.9% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: -1,500
2020-21: -1,600
2021-22: 100

Expectations

2020-21: 0-10,000
2021-22: 0-12,000

Weekly Sales Details

Total net sales reductions for 2020-21 of 1,600 MT, down noticeably from the previous week and from the prior four-week average, were for Canada (including decreases of 1,800 MT).  Total net sales for 2021-22 of 100 MT were for Canada.

Weekly Export Details

Exports of 400 MT were down 91% from the previous week and 73% from the prior four-week average.  The destination was primarily to Canada (300 MT).

Comments and Performance Indicators

Export commitments for 2020-21 are 46% behind year-ago compared with 46% behind last week. USDA projects exports will fall 40.1% this season.

Cotton

Actual Sales (in RB)

Combined: 472,500
2021-22: 453,000
2022-23: 19,500

Weekly Sales Details

Net sales of 453,000 RB for 2021-22 primarily for China (261,500 RB, including decreases of 100 RB), Pakistan (36,500 RB), Indonesia (30,500 RB, including decreases of 100 RB), Guatemala (28,400 RB), and Turkey (25,400 RB, including decreases of 300 RB), were offset by reductions for Japan (1,100 RB) and Bangladesh (200 RB).  Total net sales for 2022/2023 of 19,500 RB were for Guatemala.

Weekly Export Details

Exports of 155,300 RB were primarily to Vietnam (48,600 RB), China (29,100 RB), Pakistan (16,600 RB), Mexico (16,000 RB), and Turkey (14,300 RB).

Comments and Performance Indicators

Export commitments are 15% behind 2020-22 compared with 20% last week at the start of the marketing year. USDA forecasts total cotton exports will fall 8.3% from year-ago to 15.00 million bales in 2021-22.

Beef

Actual Sales (in MT)

Combined: 12,800
2021: 12,400
2022: 400

Weekly Sales Details

Net sales of 12,400 MT reported for 2021 were down 20% from the previous week and 2% from the prior four-week average.  Increases were primarily for Japan (4,600 MT, including decreases of 500 MT), China (2,700 MT, including decreases of 100 MT), South Korea (900 MT, including decreases 500 MT), Canada (800 MT), and Taiwan (700 MT, including 100 MT switched from the Philippines and decreases of 100 MT).  Total net sales for 2022 of 400 MT were for South Korea.

Weekly Export Details

Exports of 18,800 MT were up 4% from the previous week, but unchanged from the prior four-week average.  The destinations were primarily to Japan (4,900 MT), South Korea (4,700 MT), China (4,000 MT), Taiwan (1,100 MT), and Mexico (1,000 MT).

Comments and Performance Indicators

USDA reported sales totaling 15,600 MT last week. USDA projects 2021 exports will climb 1.8% from year-ago levels.

Pork

Actual Sales (in MT)

2021: 33,800

Weekly Sales Details

Net sales of 33,800 MT reported for 2021 were up 1% from the previous week and 47% from the prior four-week average.  Increases were primarily for China (15,000 MT, including decreases of 200 MT), Mexico (8,200 MT, including decreases of 700 MT), South Korea (3,600 MT, including decreases of 200 MT), Colombia (3,100 MT, including decreases of 100 MT), and Japan (1,600 MT, including decreases of 300 MT).

Weekly Export Details

Exports of 29,100 MT were up 3% from the previous week and 2% from the prior four-week average.  The destinations were primarily to Mexico (13,800 MT), China (5,000 MT), Japan (3,700 MT), South Korea (1,400 MT), and Canada (1,400 MT).

Comments and Performance Indicators

USDA reported net sales of 33,500 MT last week. USDA projects exports in 2021 will dip 1.9% from last year’s strong tally.