Soybean, soymeal export sales fall to marketing-year lows
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USDA Weekly Export Sales Report Week Ended Dec. 23, 2021 |
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Corn |
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Actual Sales (in MT) |
2021-22: 1,246,500 |
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Expectations (in MT) |
2021-22: 500,000-1,100,000 |
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Weekly Sales Details |
Net sales of 1,246,500 MT for 2021/2022 were up 27 percent from the previous week, but down 2 percent from the prior 4-week average. Increases were primarily for Japan (385,800 MT, including 160,900 MT switched from unknown destinations and decreases of 2,000 MT), Canada (200,100 MT, including decreases of 200 MT), unknown destinations (163,800 MT), Mexico (149,100 MT, including and decreases of 11,900 MT), and Guatemala (94,600 MT). Total net sales of 60,000 MT for 2022/2023 were for Japan. |
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Weekly Export Details |
Exports of 921,400 MT were down 16 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to Mexico (278,300 MT), China (277,000 MT), Japan (189,800 MT), Canada (64,000 MT), and Costa Rica (27,600 MT). |
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Comments and Performance Indicators |
Export commitments remained at 6% 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. |
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Wheat |
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Actual Sales (in MT) |
2021-22: 199,500 |
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Expectations (in MT) |
2021-22: 200,000-500,000 |
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Weekly Sales Details |
Net sales of 199,500 metric tons (MT) for 2021/2022 were down 53 percent from the previous week and 43 percent from the prior 4-week average. Increases primarily for Taiwan (110,000 MT), Guatemala (35,600 MT, including 31,600 MT switched from unknown destinations), Nicaragua (30,000 MT), Haiti (27,500 MT switched from unknown destinations), and Mexico (19,100 MT, including decreases of 3,000 MT), were offset by reductions primarily for unknown destinations (70,600 MT). |
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Weekly Export Details |
Exports of 335,000 MT were up 76 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to Japan (90,300 MT), Colombia (45,200 MT), Mexico (43,300 MT), South Korea (30,000 MT), and Nigeria (27,500 MT). |
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Comments and Performance Indicators |
Export commitments are 23% behind year-ago, versus 22% behind last week. USDA projects exports in 2021-22 at 840 million bu., down 15.3% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2021-22: 524,000 |
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Expectations (in MT) |
2021-22: 700,000-1,200,000 |
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Weekly Sales Details |
Net sales of 524,000 MT for 2021/2022--a marketing-year low--were down 35 percent from the previous week and 56 percent from the prior 4-week average. Increases primarily for China (432,800 MT, including 394,000 MT switched from unknown destinations and decreases of 9,300 MT), Turkey (119,500 MT, including 116,000 MT switched from unknown destinations), the Netherlands (83,900 MT, including 80,000 MT switched from unknown destinations and decreases of 2,100 MT), Thailand (77,400 MT, including 66,000 MT switched from unknown destinations), and the United Kingdom (66,000 MT, including 60,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (494,500 MT). Net sales of 75,000 MT for 2022/2023 were for unknown destinations (66,000 MT) and Japan (9,000 MT). |
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Weekly Export Details |
Exports of 1,723,400 MT were down 7 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to China (944,600 MT), Turkey (119,500 MT), the Netherlands (83,900 MT), Thailand (82,900 MT), and the United Kingdom (66,000 MT). |
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Comments and Performance Indicators |
Export commitments are 24% behind year-ago, the same as last week. USDA projects exports in 2021-22 at 2.050 billion bu., down 9.5% from year-ago. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 69,500 |
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Expectations |
2021-22: 100,000-300,000 |
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Weekly Sales Details |
Net sales of 69,500 MT for 2021/2022--a marketing-year low--were down 77 percent from the previous week and 63 percent from the prior 4-week average. Increases primarily for El Salvador (25,500 MT, including decreases of 200 MT), Mexico (23,900 MT, including decreases of 300 MT), Honduras (13,700 MT), Costa Rica (5,000 MT), and Japan (5,000 MT), were offset by reductions primarily for Canada (16,300 MT) and the Philippines (2,100 MT). Net sales of 300 MT for 2022/2023 resulting in increases for the Netherlands (800 MT), were offset by reductions for Japan (500 MT). |
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Weekly Export Details |
Exports of 170,600 MT were down 57 percent from the previous week and 41 percent from the prior 4-week average. The destinations were primarily to the Philippines (47,300 MT), Mexico (45,300 MT), Canada (11,500 MT), Panama (10,000 MT), and the Dominican Republic (9,000 MT). |
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Comments and Performance Indicators |
Export commitments are 5% ahead of year-ago, versus steady with last week. USDA projects exports in 2021-22 will climb 3.1% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2021-22: 9,300 |
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Expectations |
2021-22: 10,000-30,000 |
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Weekly Sales Details |
Net sales of 9,300 MT for 2021/2022 were down 92 percent from the previous week and 79 percent from the prior 4-week average. Increases were primarily for Mexico (5,300 MT), Canada (2,000 MT), Nicaragua (1,200 MT), the Dominican Republic (400 MT), and Guatemala (300 MT, including decreases of 6,000 MT). Total net sales of 100 MT for 2022/2023 were for Canada. |
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Weekly Export Details |
Exports of 11,900 MT were up noticeably from the previous week, but down 48 percent from the prior 4-week average. The destinations were to Guatemala (7,800 MT), Mexico (2,700 MT), and Honduras (900 MT). |
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Comments and Performance Indicators |
Export commitments are 10% behind of a year-ago, versus even last week. USDA projects exports will fall 27.5% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2021-22: 192,200 |
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Net sales of 192,200 RB for 2021/2022 were down 21 percent from the previous week and 40 percent from the prior 4-week average. Increases were primarily for China (69,300 RB), Turkey (38,000 RB, including decreases of 2,700 RB), Indonesia (30,000 RB, including 2,700 RB switched from Japan), Pakistan (18,100 RB), and Vietnam (15,200 RB, including 200 RB switched from Japan), were offset by reductions for Japan (2,300 RB). Net sales of 24,400 RB for 2022/2023 reported for Pakistan (25,100 RB), were offset by reductions for China (700 RB). |
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Weekly Export Details |
Exports of 162,200 RB were up 24 percent from the previous week and 45 percent from the prior 4-week average. The destinations were primarily to China (45,600 RB), Vietnam (42,200 RB), Pakistan (15,600 RB), Turkey (15,300 RB), and Mexico (6,500 RB). Net sales of Pima totaling 7,100 RB were up 9 percent from the previous week and 37 percent from the prior 4-week average. Increases were primarily for China (4,300 RB), India (1,500 RB), Thailand (900 RB), and South Korea (300 RB). Exports of 7,000 RB were up 55 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to China (2,200 RB), Honduras (1,700 RB), India (1,300 RB), and Peru (1,000 RB). |
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Comments and Performance Indicators |
Export commitments are 8% behind a year-ago, the same as the previous week. USDA forecasts total cotton exports will fall 5.3% from year-ago to 15.50 million bales in 2021-22. |
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Beef |
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Actual Sales (in MT) |
2021: 6,300 |
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Weekly Sales Details |
Net sales of 6,300 MT for 2021 were down 48 percent from the previous week and 55 percent from the prior 4-week average. Increases primarily for Japan (2,600 MT, including decreases of 300 MT), South Korea (1,800 MT, including decreases 500 MT), China (1,000 MT, including decreases of 300 MT), Mexico (300 MT), and Indonesia (200 MT), were offset by reductions for Taiwan (300 MT) and Canada (100 MT). Net sales of 6,000 MT for 2022 were primarily for Japan (2,400 MT), South Korea (1,300 MT), Taiwan (900 MT), Hong Kong (400 MT), and China (300 MT). |
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Weekly Export Details |
Exports of 17,000 MT were down 5 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to South Korea (5,200 MT), Japan (3,500 MT), China (2,800 MT), Taiwan (1,700 MT), and Mexico (1,400 MT). |
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Comments and Performance Indicators |
USDA projects 2021 exports will climb 17.1% from year-ago to a record level. |
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Pork |
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Actual Sales (in MT) |
2021: 3,200 |
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Weekly Sales Details |
Net sales of 3,200 MT for 2021 were down 89 percent from the previous week and 90 percent from the prior 4-week average. Increases primarily for Mexico (14,700 MT, including decreases of 500 MT), Japan (2,500 MT, including decreases of 1,100 MT), Nicaragua (100 MT, including decreases of 100 MT), the Dominican Republic (100 MT), and the Netherlands (100 MT), were offset by reductions primarily for China (9,500 MT), Australia (2,500 MT), and Colombia (1,000 MT). Net sales of 35,900 MT for 2022 primarily for China (18,600 MT), Mexico (5,000 MT), South Korea (3,600 MT), Australia (2,500 MT), and Colombia (1,900 MT), were offset by reductions for Nicaragua (100 MT). |
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Weekly Export Details |
Exports of 30,900 MT were down 3 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to Mexico (15,900 MT), Japan (4,200 MT), China (3,100 MT), South Korea (2,300 MT), and Canada (1,700 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2021 will drop 1.6% from last year. |
