New-crop corn sales top expectations
Old-crop sales of the grain were light, but in line with expectations. Wheat sales fell short of expectations. Soybean sales were in line with expectations, with new-crop business perking up a bit. Cotton sales were lackluster.
Pork export sales and shipments held strong, with China as the lead buyer. Beef export sales slowed.
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USDA Weekly Export Sales Report Week Ended July 29, 2021 |
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Corn |
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Actual Sales (in MT) |
Combined: 898,400 |
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Expectations (in MT) |
2020-21: -150,000-200,000 |
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Weekly Sales Details |
Net sales of 68,200 MT for2020-21 were down noticeably from the previous week, but up noticeably from the prior four-week average. Increases primarily for Mexico (205,400 MT, including decreases of 38,100 MT), Canada (65,200 MT, including decreases of 2,300 MT), Japan (31,600 MT, including 47,100 switched from unknown destinations and decreases of 17,100 MT), Guatemala (22,000 MT, including 21,200 MT switched from Nicaragua and decreases of 700 MT), and Taiwan (3,500 MT), were offset by reductions primarily for China (112,500 MT), unknown destinations (47,100 MT), Nicaragua (46,900 MT), Costa Rica (30,100 MT), and Panama (20,700 MT). For 2021-22, net sales of 830,200 MT primarily for Mexico (238,800 MT), Japan (210,700 MT), unknown destinations (101,700 MT), Colombia (96,300 MT), and Nicaragua (82,500 MT), were offset by reductions for El Salvador (800 MT). |
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Exports of 1,410,700 MT were up 4% from the previous week and 20% from the prior four-week average. The destinations were primarily to China (909,500 MT), Mexico (266,100 MT), Honduras (68,600 MT), Japan (64,100 MT), and Costa Rica (29,700 MT). |
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Comments and Performance Indicators |
Export commitments are 59% ahead of year-ago compared with 59% ahead last week. USDA projects exports in 2020-21 at 2.850 billion bu., up 60.4% from the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2021-22: 308,300 |
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Expectations (in MT) |
2021-22: 350,000-600,000 |
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Weekly Sales Details |
Net sales of 308,300 metric tons (MT) for 2021-22 were down 40% from the previous week and 28% from the prior four-week average. Increases primarily for Mexico (97,800 MT, including 30,000 MT switched from unknown destinations and decreases of 18,400 MT), South Korea (54,600 MT), Nigeria (48,000 MT), Colombia (32,200 MT), and the Philippines (27,000 MT, including decreases of 6,000 MT), were offset by reductions primarily for unknown destinations (14,500 MT) and Chile (2,000 MT). |
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Weekly Export Details |
Exports of 387,200 MT were up 12% from the previous week, but down 1% from the prior four-week average. The destinations were primarily to Mexico (127,400 MT), the Philippines (91,000 MT), South Korea (55,000 MT), Japan (30,200 MT), and Chile (21,000 MT). |
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Comments and Performance Indicators |
Export commitments are 17% behind year-ago, compared with 15% behind last week. USDA projects exports in 2021-22 at 875 million bu., down 11.8% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
Combined: 436,200 |
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Expectations (in MT) |
2020-21: -100,000-100,000 |
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Weekly Sales Details |
Net sales of 11,400 MT for2020-21 were down noticeably from the previous week and down 33% from the prior four-week average. Increases primarily for Vietnam (37,200 MT, including 33,500 MT switched from unknown destinations), Indonesia (28,700 MT, including 21,500 MT switched from unknown destinations and decreases of 500 MT), Venezuela (10,000 MT), Colombia (7,000 MT), and Malaysia (6,700 MT, including decreases of 400 MT), were offset by reductions primarily for unknown destinations (51,000 MT) and China (41,000 MT). For 2021-22, net sales of 424,800 MT were primarily for unknown destinations (142,000 MT), China (129,000 MT), Egypt 65,000 MT), Mexico (43,700 MT), and Japan (20,000 MT). |
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Weekly Export Details |
Exports of 215,600 MT were down 12% from the previous week, but up 4% from the prior four-week average. The destinations were primarily to Mexico (64,600 MT), Vietnam (39,500 MT), Indonesia (38,700 MT), Japan (32,200 MT), and China (28,500 MT). |
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Comments and Performance Indicators |
Export commitments are 32% ahead of year-ago, compared with 33% ahead of year-ago last week. USDA projects exports in 2020-21 at 2.270 billion bu., up 35.2% from year-ago. |
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Soymeal |
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Actual Sales (in MT) |
Combined: 154,100 |
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Expectations |
2020-21: 50,000-300,000 |
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Weekly Sales Details |
Net sales of 135,400 MT for2020-21 were up 55% from the previous week and 24% from the prior four-week average. Increases primarily for Mexico (34,900 MT, including decreases of 400 MT), the Philippines (30,200 MT), Colombia (20,000 MT, including decreases of 1,400 MT), Turkey (15,000 MT), and Nicaragua (11,200 MT, including 5,500 MT switched from Costa Rica and decreases of 3,200 MT), were offset by reductions for El Salvador (6,000 MT), Costa Rica (5,400 MT), and South Korea (800 MT). For 2021-22, net sales of 18,700 MT resulting in increases for Morocco (16,500 MT), Jamaica (6,500 MT), Nicaragua (6,000 MT), Mexico (4,500 MT), and Canada (4,400 MT), were offset by reductions for Ecuador (30,000 MT) and El Salvador (400 MT). |
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Net sales of 135,400 MT for2020-21 were up 55% from the previous week and 24% from the prior four-week average. Increases primarily for Mexico (34,900 MT, including decreases of 400 MT), the Philippines (30,200 MT), Colombia (20,000 MT, including decreases of 1,400 MT), Turkey (15,000 MT), and Nicaragua (11,200 MT, including 5,500 MT switched from Costa Rica and decreases of 3,200 MT), were offset by reductions for El Salvador (6,000 MT), Costa Rica (5,400 MT), and South Korea (800 MT). For 2021-22, net sales of 18,700 MT resulting in increases for Morocco (16,500 MT), Jamaica (6,500 MT), Nicaragua (6,000 MT), Mexico (4,500 MT), and Canada (4,400 MT), were offset by reductions for Ecuador (30,000 MT) and El Salvador (400 MT). |
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Comments and Performance Indicators |
Export commitments are steady with year-ago vs. steady with year-ago the week prior. USDA projects exports in 2020-21 will climb 3.0% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2020-21: 3,200 |
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Expectations |
2020-21: -10,000-10,000 |
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Weekly Sales Details |
Net sales of 3,200 MT for2020-21 were up 48% from the previous week and up noticeably from the prior four-week average. Increases were reported for Venezuela (3,000 MT) and Canada (200 MT). |
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Weekly Export Details |
Exports of 3,500 MT were up noticeably from the previous week and up 42% from the prior four-week average. The destinations were primarily to Venezuela (3,000 MT) and Canada (300 MT). |
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Comments and Performance Indicators |
Export commitments for 2020-21 are 46% behind year-ago compared with 45% behind last week. USDA projects exports will fall 37.4% this season. |
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Cotton |
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Actual Sales (in RB) |
Combined: 166,400 |
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Net sales of 17,100 RB for2020-21 were up noticeably from the previous week, but down 45% from the prior four-week average. Increases primarily for Mexico (9,300 RB), South Korea (4,200 RB, including decreases of 100 RB), Vietnam (2,800 RB, including 400 RB switched from Japan and decreases of 5,100 RB), China (900 RB), and Bangladesh (700 RB, including 900 switched from Pakistan and decreases of 200 RB), were primarily offset by reductions for Malaysia (600 RB), Japan (300 RB), and El Salvador (300 RB). For 2021-22, net sales of 149,300 RB primarily for Costa Rica (36,500 RB), Pakistan (35,300 RB), Turkey (35,300 RB), China (15,800 RB), and Thailand (13,300 RB), were offset by reductions for Indonesia (700 RB), Honduras (600 RB), and Guatemala (300 RB). |
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Weekly Export Details |
Exports of 229,500 RB were down 4% from the previous week and 5% from the prior four-week average. Exports were primarily to Vietnam (42,400 RB), China (35,500 RB), Turkey (34,100 RB), Pakistan (25,000 RB), and Indonesia (17,400 RB). |
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Comments and Performance Indicators |
Export commitments are 5% behind 2019-20, which compares to 5% behind the week prior. USDA forecasts total cotton exports will rise 5.7% from year-ago to 16.40 million bales this marketing year. |
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Beef |
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Actual Sales (in MT) |
Combined: 15,100 |
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Weekly Sales Details |
Net sales of 15,000 MT reported for 2021 were down 33% from the previous week and 26% from the prior four-week average. Increases were primarily for Japan (4,000 MT, including decreases of 600 MT), South Korea (3,300 MT, including decreases of 700 MT), China (2,300 MT, including decreases of 100 MT), Canada (1,200 MT, including decreases of 200 MT), and Indonesia (1,100 MT). Total net sales for 2022, of 100 MT were for Japan. |
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Weekly Export Details |
Exports of 20,400 MT were up 6% from the previous week and 10% from the prior four-week average. The destinations were primarily to South Korea (6,800 MT), Japan (4,600 MT), China (3,600 MT), Mexico (1,400 MT), and Taiwan (1,200 MT). |
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Comments and Performance Indicators |
USDA reported sales totaling 22,500 MT last week. USDA projects 2021 exports will climb 16.0% from year-ago levels. |
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Pork |
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Actual Sales (in MT) |
2021: 38,800 |
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Weekly Sales Details |
Net sales of 38,800 MT reported for 2021 were up 1% from the previous week and 32% from the prior four-week average. Increases primarily for China (18,300 MT, including decreases of 200 MT), Mexico (9,200 MT, including decreases of 1,100 MT), Japan (3,300 MT, including decreases of 500 MT), South Korea (3,100 MT, including decreases of 300 MT), and Canada (1,600 MT, including decreases of 400 MT), were offset by reductions for Nicaragua (200 MT) and Chile (100 MT). |
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Weekly Export Details |
Exports of 28,400 MT were down 5% from the previous week and 2% from the prior four-week average. The destinations were primarily to Mexico (12,100 MT), China (4,900 MT), Japan (4,000 MT), Canada (1,900 MT), and South Korea (1,300 MT). |
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Comments and Performance Indicators |
USDA reported net sales of 38,900 MT last week. USDA projects exports in 2021 will climb 3.7% from last year’s strong tally. |
