Weekly corn export sales shy of expectations
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USDA Weekly Export Sales Report Week Ended Jan. 5, 2022 |
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Corn |
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Actual Sales (in MT) |
2022-23: 255,700 |
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Expectations (in MT) |
2022-23: 300,000-1,000,000 |
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Weekly Sales Details |
Net sales of 255,700 MT for 2022/2023 were down 20 percent from the previous week and 62 percent from the prior 4-week average. Increases primarily for Mexico (223,500 MT, including decreases of 4,800 MT), China (138,600 MT, including 136,000 MT switched from unknown destinations and decreases of 800 MT), Canada (33,400 MT), Nicaragua (6,100 MT), and Taiwan (5,200 MT, including 1,000 MT switched from Hong Kong and decreases of 300 MT), were offset by reductions for unknown destinations (110,600 MT), Honduras (42,500 MT), and Hong Kong (1,000 MT). Total net sales of 22,400 MT for 2023/2024 were for Mexico. |
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Weekly Export Details |
Exports of 387,100 MT were down 49 percent from the previous week and 53 percent from the prior 4-week average. The destinations were primarily to Mexico (213,700 MT), China (138,600 MT), Canada (23,100 MT), Jamaica (4,700 MT), and Taiwan (4,200 MT). |
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Comments and Performance Indicators |
Export commitments are 46.9% behind a year-ago compared to 47.6% behind last week. USDA projects exports in 2022-23 at 2.075 billion bu., 16% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2022-23: 90,800 |
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Expectations (in MT) |
2022-23: 75,000-450,000 |
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Weekly Sales Details |
Net sales of 90,800 metric tons (MT) for 2022/2023 were up 93 percent from the previous week, but down 73 percent from the prior 4-week average. Increases primarily for China (66,000 MT, including 65,000 MT switched from unknown destinations), the Philippines (23,200 MT, including decreases of 22,000 MT), Italy (18,900 MT), South Africa (7,700 MT, including 8,000 MT switched from unknown destinations and decreases of 300 MT), and Panama (6,000 MT), were offset by reductions for unknown destinations (43,000 MT) and Thailand (3,600 MT). Total net sales of 1,500 MT for 2023/2024 were for Panama. |
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Weekly Export Details |
Exports of 193,600 MT were up noticeably from the previous week, but down 15 percent from the prior 4-week average. The destinations were primarily to China (66,000 MT), the Philippines (35,200 MT), Japan (26,200 MT), Mexico (24,500 MT), and Italy (18,900 MT). |
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Comments and Performance Indicators |
Export commitments are running 6.7% behind a year-ago, compared to 5.8% behind last week. USDA projects exports in 2022-23 at 775 million bu., down 3.1% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2022-23: 717,400 |
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Expectations (in MT) |
2022-23: 500,000-1,200,000 |
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Weekly Sales Details |
Net sales of 717,400 MT for 2022/2023 were down 1 percent from the previous week and 41 percent from the prior 4-week average. Increases primarily for China (676,600 MT, including 372,000 MT switched from unknown destinations, 52,000 MT switched from Pakistan, and decreases of 10,800 MT), Germany (142,600 MT), Mexico (100,400 MT, including decreases of 1,800 MT), Bangladesh (57,200 MT, including 55,000 MT switched from unknown destinations), and Spain (46,900 MT, including 41,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (348,800 MT). Total net sales of 66,000 MT for 2023/2024 were for Pakistan. |
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Weekly Export Details |
Exports of 1,620,700 MT were up 10 percent from the previous week, but down 7 percent from the prior 4-week average. The destinations were primarily to China (1,134,800 MT), Germany (142,600 MT), Mexico (66,700 MT), Bangladesh (57,200 MT), and Spain (46,900 MT). |
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Comments and Performance Indicators |
Export commitments are running 4.6% ahead of a year-ago, versus 5.1% ahead last week. USDA projects exports in 2022-23 at 2.045 billion bu., down 5.2% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2022-23: 3,300 |
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Expectations |
2022-23: 75,000-300,000 |
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Weekly Sales Details |
Net sales of 3,300 MT for 2022/2023--a marketing-year low-- were down 96 percent from the previous week and 99 percent from the prior 4-week average. Increases primarily for France (64,700 MT, including 60,000 MT switched from unknown destinations), Venezuela (11,000 MT switched from unknown destinations), Honduras (7,100 MT), Vietnam (5,000 MT), and the Philippines (4,000 MT, including decreases of 500 MT), were offset by reductions primarily for unknown destinations (80,000 MT), Ecuador (6,800 MT), Costa Rica (6,500 MT), and Morocco (6,000 MT). |
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Weekly Export Details |
Exports of 314,500 MT were up 43 percent from the previous week and 34 percent from the prior 4-week average. The destinations were primarily to France (64,700 MT), the Philippines (50,000 MT), Mexico (32,400 MT), Japan (27,700 MT), and Burma (27,500 MT). |
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Comments and Performance Indicators |
Export commitments are 0.4% behind a year-ago, compared to 1.2% ahead a week ago. USDA projects exports in 2022-23 will increase 1.3% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2022-23: 600 |
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Expectations |
2022-23: 0-12,000 |
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Weekly Sales Details |
Net sales of 600 MT for 2022/2023 were up 74 percent from the previous week, but down 61 percent from the prior 4-week average. Increases were reported for Canada (400 MT) and Mexico (200 MT). |
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Weekly Export Details |
Exports of 600 MT were up 14 percent from the previous week, but down 66 percent from the prior 4-week average. The destinations were to Canada (400 MT) and Mexico (200 MT). |
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Comments and Performance Indicators |
Export commitments are running 91.0% behind a year-ago, compared to 91.6% behind last week. USDA projects exports will decrease 38% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2022-23: 72,600 |
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Net sales of 72,600 RB for 2022/2023 were up 83 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for Turkey (19,600 RB), China (16,400 RB), Vietnam (11,800 RB, including 200 RB switched from Japan and decreases of 400 RB), Pakistan (9,200 RB), Indonesia (6,900 RB, including 100 RB switched from Japan), were offset by reductions for Peru (1,400 RB). Exports of 150,500 RB were up 61 percent from the previous week and 24 percent from the prior 4- week average. The destinations were primarily to Pakistan (45,100 RB), China (44,200 RB), Vietnam (11,400 RB), Mexico (10,900 RB), and Bangladesh (8,600 RB). Net sales of Pima totaling 3,300 RB for 2022/2023 were down noticeably from the previous week, but up 78 percent from the prior 4-week average. Increases were reported for Vietnam (1,800 RB), China (1,100 RB), and India (400 RB). |
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Weekly Export Details |
Exports of 6,300 RB were up 85 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to Turkey (2,900 RB), Vietnam (1,300 RB), Egypt (700 RB), India (400 RB), and China (400 RB). |
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Comments and Performance Indicators |
Export commitments are running 19.4% behind a year-ago, versus 17.0% behind last week. USDA forecasts total cotton exports will fall 16.2% from a year ago to 12.25 million bales in 2022-23. |
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Beef |
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Actual Sales (in MT) |
2023: 13,300 |
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Weekly Sales Details |
Net sales for 2023 marketing year, which began January 1st, totaled 13,300 MT primarily for Japan (4,800 MT, including decreases of 600 MT), China (3,400 MT, including decreases of 100 MT), South Korea (1,700 MT, including decreases of 700 MT), Mexico (900 MT, including decreases of 100 MT), and Taiwan (700 MT, including decreases of 100 MT), were offset by reductions for Chile (100 MT). Net sales of 600 MT were carried over from the 2022 marketing year, which ended December 31st. |
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Weekly Export Details |
Exports for the period ending December 31st of 4,300 MT brought accumulated exports to 942,000 MT, up 2 percent from the prior year total of 925,100 MT. The primary destinations were to South Korea (1,300 MT), Japan (1,200 MT), China (500 MT), Mexico (400 MT), and Taiwan (200 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will rise 3.5% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2023: 13,100 |
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Weekly Sales Details |
Net sales for 2023 marketing year, which began January 1st, totaled 13,100 MT were primarily for Mexico (4,700 MT, including decreases of 300 MT), Japan (3,500 MT, including decreases of 400 MT), South Korea (1,400 MT, including decreases of 700 MT), Canada (800 MT, including decreases of 400 MT), and the Dominican Republic (600 MT, including decreases of 100 MT). Net sales of 4,000 MT were carried over from the 2022 marketing year, which ended December 31st. |
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Weekly Export Details |
Exports of the period ending December 31st of 9,700 MT brought accumulated exports to 1,502,900 MT, down 16 percent from the prior year total of 1,791,700 MT. The primarily destinations were to Mexico (6,000 MT), Japan (1,300 MT), South Korea (600 MT), China (500 MT), and Canada (400 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will decrease 9.8% from last year. |
