Soyoil export sales hit marketing-year low

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USDA Weekly Export Sales Report

Week Ended Jan. 6, 2022

Corn

Actual Sales (in MT)

2021-22: 457,700

Expectations (in MT)

2021-22: 500,000-1,500,000

Weekly Sales Details

Net sales of 457,700 MT for 2021/2022 were up 79 percent from the previous week, but down 59 percent from the prior 4-week average.  Increases primarily for Mexico (278,800 MT, including decreases of 20,600 MT), Japan (233,000 MT, including 101,500 MT switched from unknown destinations), China (70,200 MT, including 68,000 MT switched from unknown destinations), Canada (27,000 MT, including decreases of 1,100 MT), and Nicaragua (16,900 MT), were offset by reductions primarily for unknown destinations (216,300 MT).

Weekly Export Details

Exports of 1,011,800 MT were up 3 percent from the previous week, but down 1 percent from the prior 4-week average.  The destinations were primarily to Mexico (347,800 MT), China (274,700 MT), Japan (131,700 MT), Saudi Arabia (73,300 MT), and Costa Rica (49,300 MT).

Comments and Performance Indicators

Export commitments are 9% behind year-ago, compared to 7% behind last week. USDA projects exports in 2021-22 at 2.425 billion bu., 11.9% below the previous marketing year.

Wheat

Actual Sales (in MT)

2021-22:  264,400

Expectations (in MT)

2021-22: 150,000-400,000

Weekly Sales Details

 Net sales of 264,400 metric tons (MT) for 2021/2022 were up noticeably from the previous week, but down 20 percent from the prior 4-week average.  Increases primarily for the Philippines (50,000 MT), Mexico (42,300 MT, including decreases of 18,500 MT), Algeria (33,000 MT), Japan (26,800 MT), and Jamaica (22,000 MT), were offset by reductions primarily for the French West Indies (11,500 MT).

Weekly Export Details

Exports of 258,400 MT were up 23 percent from the previous week and 2 percent from the prior 4-week average.  The destinations were primarily to Japan (60,300 MT), Indonesia (60,300 MT), Mexico (56,100 MT), Nicaragua (33,000 MT), and Taiwan (28,500 MT)

Comments and Performance Indicators

Export commitments are running 23% behind, the same as last week. USDA projects exports in 2021-22 at 825 million bu., down 16.8% from the previous marketing year.

Soybeans

Actual Sales (in MT)

2021-22: 735,600

Expectations (in MT)

2021-22: 400,000-1,200,000

Weekly Sales Details

Net sales of 735,600 MT for 2021/2022 were up 92 percent from the previous week, but down 1 percent from the prior 4-week average.  Increases primarily for China (301,800 MT, including 264,000 MT switched from unknown destinations and decreases of 1,200 MT), Mexico (187,900 MT, including decreases of 1,400 MT), Egypt (175,800 MT, including 57,500 MT switched from China and decreases of 3,700 MT), Bangladesh (57,500 MT, including 55,000 MT switched from unknown destinations), and Indonesia (33,900 MT, including decreases of 200 MT), were offset by reductions primarily for unknown destinations (109,000 MT).  Net sales of 183,000 MT for 2022/2023 were for unknown destinations (120,000 MT) and China (63,000 MT).

Weekly Export Details

Exports of 1,020,100 MT were down 42 percent from the previous week and 43 percent from the prior 4-week average.  The destinations were primarily to China (489,000 MT, including 69,500 MT - late), Mexico (107,700 MT), Egypt (106,800 MT), Pakistan (68,800 MT), and Spain (59,900 MT).

Comments and Performance Indicators

Export commitments are running at 23% behind year-ago, compared to 24% behind as last week. USDA projects exports in 2021-22 at 2.050 billion bu., down 9.5% from the previous marketing year.

Soymeal

Actual Sales (in MT)

2021-22: 104,200

Expectations

2021-22:  10,000-350,000

Weekly Sales Details

Net sales of 104,200 MT for 2021/2022 were up noticeably from the previous week, but down 16 percent from the prior 4-week average.  Increases primarily for Mexico (26,200 MT, including decreases 1,000 MT), Morocco (24,000 MT), Colombia (22,300 MT, including 15,000 MT switched from unknown destinations and decreases of 23,000 MT), Canada (18,200 MT, including decreases of 1,400 MT), and the Dominican Republic (11,500 MT), were offset by reductions primarily for unknown destinations (13,000 MT).  Net sales reductions of 700 MT for 2022/2023 resulting in increases for Canada (1,900 MT), were more than offset by reductions for the Netherlands (2,000 MT) and Japan (700 MT).

Weekly Export Details

Exports of 207,800 MT were down 9 percent from the previous week and 16 percent from the prior 4-week average.  The destinations were primarily to Colombia (77,900 MT), the Philippines (48,300 MT), Mexico (32,600 MT), Canada (29,200 MT), and Guatemala (9,500 MT).  

 

Comments and Performance Indicators

Export commitments are 1% behind a year-ago, versus 3% ahead last week. USDA projects exports in 2021-22 will climb 1.7% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2021-22: -2,900

Expectations

2021-22:  0-25,000

Weekly Sales Details

Net sales reductions of 2,900 MT for 2021/2022--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average.  Increases reported for South Korea (300 MT) and the Dominican Republic (200 MT), were more than offset by reductions for Canada (3,000 MT) and India (400 MT)Total net sales reductions of 100 MT for 2022/2023 were for Canada.

Weekly Export Details

Exports of 12,600 MT were down 70 percent from the previous week and 28 percent from the prior 4-week average.  The destinations were to the Dominican Republic (9,200 MT), Mexico (1,600 MT), Colombia (1,500 MT), and Canada (300 MT).

Comments and Performance Indicators

Export commitments are running 13% behind a year-ago, compared 10% behind of a year-ago. USDA projects exports will fall 17.3% this season.

Cotton

Actual Upland Sales (in RB)

2021-22: 401,000
2022-23: 38,300

Weekly Sales Details

 Net sales of 401,000 RB for 2021/2022 were up noticeably from the previous week and up 85 percent from the prior 4-week average.  Increases were primarily for China (139,500 RB), India (74,700 RB), Turkey (53,200 RB), Pakistan (38,400 RB), and Vietnam (36,600 RB, including 300 RB switched from China).  Net sales of 38,300 RB for 2022/2023 were primarily for Pakistan (36,500 RB). 

Weekly Export Details

Exports of 167,600 RB were up 60 percent from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to China (59,000 RB), Vietnam (26,900 RB), Turkey (19,400 RB), Mexico (18,000 RB), and Pakistan (13,700 RB).  Net sales of Pima totaling 2,400 RB were down 46 percent from the previous week and 49 percent from the prior 4-week average.  Increases were primarily for China (1,700 RB), Pakistan (300 RB), and Brazil (300 RB).  Exports of 9,300 RB were up 29 percent from the previous week and 37 percent from the prior 4-week average.  The destinations were primarily to Peru (4,800 RB), Indonesia (1,700 RB), India (1,600 RB), China (500 RB), and Vietnam (400 RB).

Comments and Performance Indicators

Export commitments are 7% behind year-ago, versus 8% behind previous week.  USDA forecasts total cotton exports will fall 8.4% from year-ago to 15.0 million bales in 2021-22.

Beef

Actual Sales (in MT)

2022: 9,700

Weekly Sales Details

Net sales for 2022 marketing year, which began January 1, totaled 9,700 MT primarily for Japan (2,600 MT, including decreases of 300 MT), Mexico (1,400 MT), South Korea (1,400 MT, including decreases of 500 MT), China (1,100 MT, including decreases of 400 MT), and Egypt (500 MT), were offset by reductions for the United Arab Emirates (100 MT).  Net sales of 900 MT were carried over from the 2021 marketing year, which ended December 31.

Weekly Export Details

Exports for the period ending December 31 of 8,600 MT brought accumulated exports to 925,100 MT, up 9 percent from the prior year total of 851,800 MT. The primary destinations were to South Korea (3,100 MT), Japan (1,900 MT), China (1,700 MT), Taiwan (500 MT), and Mexico (500 MT).

Comments and Performance Indicators

USDA projects 2022 exports will decline 5.4% from year-ago to a record level.

Pork

Actual Sales (in MT)

2022:  19,800
 

Weekly Sales Details

Net sales for 2022, which began January 1, totaled 19,800 MT primarily for Mexico (10,100 MT, including decreases of 300 MT), Japan (3,100 MT, including decreases of 500 MT), South Korea (2,100 MT, including decreases of 600 MT), China (1,400 MT, including decreases of 400 MT), and Canada (1,300 MT, including decreases of 500 MT), were offset by reductions for Peru (200 MT) and the Philippines (100 MT).  Net sales reductions of 3,100 MT was carried over from the 2021 marketing year, which ended December 31.

Weekly Export Details

Exports for the period ending December 31 of 20,500 MT brought accumulated exports to 1,791,700 MT, were down 8 percent from the prior year total of 1,938,000 MT.  The primary destinations were to Mexico (10,700 MT), China (2,800 MT), Japan (2,800 MT), South Korea (1,500 MT), and Canada (900 MT). 

Comments and Performance Indicators

USDA projects exports in 2022 will drop 1.2% from last year.

 

 

 

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