Weekly corn sales steady; soybean sales rebound from net reductions
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USDA Weekly Export Sales Report Week Ended March 9, 2023 |
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Corn |
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Actual Sales (in MT) |
2022-23: 1,236,200 |
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Expectations (in MT) |
2022-23: 700,000-1,500,000 |
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Weekly Sales Details |
Net sales of 1,236,200 MT for 2022/2023 were down 13 percent from the previous week, but up 28 percent from the prior 4-week average. Increases primarily for Japan (499,500 MT, including 177,400 MT switched from unknown destinations and decreases of 2,000 MT), Colombia (209,800 MT, including 90,000 MT switched from unknown destinations and decreases of 10,100 MT), Mexico (199,100 MT, including decreases of 300 MT), South Korea (120,000 MT, including decreases of 65,000 MT), and China (73,200 MT, including 65,000 MT switched from unknown destinations and decreases of 1,500 MT), were offset by reductions for unknown destinations (74,400 MT), Guatemala (16,000 MT), and the Leeward-Windward Islands (10,000 MT). Net sales of 183,500 MT for 2023/2024 were reported for Japan (143,500 MT) and Mexico (40,000 MT). |
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Weekly Export Details |
Exports of 1,164,900 MT-- a marketing-year high--were up 11 percent from the previous week and 52 percent from the prior 4-week average. The destinations were primarily to Japan (336,100 MT), Mexico (260,600 MT), Colombia (181,100 MT), China (127,800 MT), and Morocco (66,000 MT). |
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Comments and Performance Indicators |
Export commitments are 38.7% behind a year-ago compared to 38.9% behind last week. USDA projects exports in 2022-23 at 1.850 billion bu., 25.1% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2022-23: 336,700 |
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Expectations (in MT) |
2022-23: 75,000-500,000 |
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Weekly Sales Details |
Net sales of 336,700 metric tons (MT) for 2022/2023 were up 26 percent from the previous week and 23 percent from the prior 4-week average. Increases primarily for the Philippines (121,900 MT), Japan (81,400 MT), Mexico (49,100 MT), Vietnam (35,600 MT, including 32,900 MT switched from unknown destinations), and Malaysia (19,500 MT, including 18,600 MT switched from unknown destinations and decreases of 200 MT), were offset by reductions for the Leeward-Windward Islands (20,000 MT), Guatemala (16,000 MT), unknown destinations (11,300 MT), and Ecuador (5,500 MT). Net sales of 155,900 MT for 2023/2024 were reported for unknown destinations (136,000 MT), Ecuador (8,500 MT), Costa Rica (8,000 MT), Peru (3,000 MT), and Panama (400 MT). |
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Weekly Export Details |
Exports of 250,700 MT were down 34 percent from the previous week and 45 percent from the prior 4-week average. The destinations were primarily to Mexico (48,100 MT, including 11,000 MT - late), the Philippines (32,900 MT), Honduras (29,700 MT), Japan (25,200 MT), and Malaysia (19,600 MT). |
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Comments and Performance Indicators |
Export commitments are running 5.3% behind a year-ago, compared to 6.4% 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: 665,000 |
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Expectations (in MT) |
2022-23: 50,000-700,000 |
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Weekly Sales Details |
Net sales of 665,000 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for China (208,100 MT, including decreases of 67,900 MT), Germany (121,500 MT, including 62,000 MT switched from unknown destinations), Indonesia (60,700 MT, including 14,700 MT - late), Thailand (59,900 MT, including decreases of 100 MT and 58,700 MT - late), and the Netherlands (57,400 MT, including 60,000 MT switched from unknown destinations and decreases of 2,600 MT), were offset by reductions primarily for Egypt (1,400 MT). Net sales of 66,100 MT for 2023/2024 were reported for unknown destinations (66,000 MT) and South Korea (100 MT). |
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Weekly Export Details |
Exports of 773,500 MT were up 33 percent from the previous week, but down 37 percent from the prior 4-week average. The destinations were primarily to China (196,200 MT), Mexico (136,900 MT), Germany (121,500 MT), the Netherlands (57,400 MT), and Japan (56,800 MT). |
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Comments and Performance Indicators |
Export commitments are running 8.0% behind a year-ago, versus behind 7.0% last week. USDA projects exports in 2022-23 at 2.015 billion bu., down 6.6% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2022-23: 220,100 |
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Expectations |
2022-23: 100,000-300,000 |
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Weekly Sales Details |
Net sales of 220,100 MT for 2022/2023 were down 31 percent from the previous week, but up 6 percent from the prior 4-week average. Increases primarily for the Philippines (44,100 MT, including decreases of 900 MT), the Dominican Republic (39,100 MT), Ecuador (33,000 MT, including 30,000 MT switched from unknown destinations), Canada (32,200 MT, including decreases of 100 MT), and Sri Lanka (16,500 MT, including 12,700 MT - late), were offset by reductions primarily for unknown destinations (33,000 MT) and Belgium (700 MT). Total net sales of 35,000 MT for 2023/2024 were for Ireland. |
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Weekly Export Details |
Exports of 337,600 MT--a marketing-year high--were up 27 percent from the previous week and 48 percent from the prior 4-week average. The destinations were primarily to Ecuador (60,200 MT), Vietnam (52,000 MT), Colombia (48,600 MT), the Philippines (21,600 MT), and the Dominican Republic (18,900 MT). |
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Comments and Performance Indicators |
Export commitments are 6.0% behind a year-ago, compared to 6.9% behind 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: 3,900 |
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Expectations |
2022-23: 0-10,000 |
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Weekly Sales Details |
Net sales of 3,900 MT for 2022/2023 were down 47 percent from the previous week and 3 percent from the prior 4-week average. Increases were primarily for Mexico (2,500 MT). |
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Weekly Export Details |
Exports of 400 MT were down 31 percent from the previous week and 79 percent from the prior 4-week average. The destination was to Canada. |
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Comments and Performance Indicators |
Export commitments are running 89.5% behind a year-ago, compared to 89.8% behind last week. USDA projects exports will decrease 71.8% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2022-23: 225,500 |
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Net sales of 225,500 RB for 2022/2023 were up 97 percent from the previous week, but down 3 percent from the prior 4-week average. Increases were primarily for Vietnam (120,200 RB, including 8,400 RB switched from China and 1,000 RB switched from South Korea), China (35,800 RB), Turkey (16,900 RB, including decreases of 3,200 RB), Pakistan (10,400 RB, including decreases of 5,300 RB), and South Korea (10,100 RB, including decreases of 100 RB). Net sales of 12,800 RB for 2023/2024 were reported for Turkey (4,400 RB), Pakistan (4,400 RB), and South Korea (4,000 RB). |
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Weekly Export Details |
Exports of 273,900 RB were down 5 percent from the previous week, but up 25 percent from the prior 4-week average. The destinations were primarily to Vietnam (78,000 RB), China (51,800 RB), Pakistan (38,200 RB), Turkey (29,900 RB), and Indonesia (13,700 RB). Net sales of Pima totaling 7,600 RB for 2022/2023--a marketing-year high--were up 99 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for China (2,900 RB), Vietnam (2,400 RB), Egypt (1,300 RB), Thailand (800 RB, including 200 RB switched from Japan), and Turkey (400 RB), were offset by reductions for Japan (400 RB). Exports of 1,500 RB were down 49 percent from the previous week and 64 percent from the prior 4-week average. The destinations were primarily to Thailand (600 RB), Bangladesh (300 RB), China (300 RB), and Indonesia (200 RB). |
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Comments and Performance Indicators |
Export commitments are running 20.4% behind a year-ago, versus 19.9% behind last week. USDA forecasts total cotton exports will fall 17.9% from a year ago to 12.00 million bales in 2022-23. |
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Beef |
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Actual Sales (in MT) |
2023: 17,700 |
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Weekly Sales Details |
Net sales of 17,700 MT for 2023 were up noticeably from the previous week and up 24 percent from the prior 4-week average. Increases primarily for South Korea (5,300 MT, including decreases of 400 MT), Japan (3,200 MT, including decreases of 300 MT), Taiwan (2,600 MT, including decreases of 100 MT), Hong Kong (1,900 MT, including decreases of 100 MT), and China (1,600 MT, including decreases of 100 MT), were offset by reductions for Chile (100 MT). |
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Weekly Export Details |
Exports of 15,900 MT were up 22 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to South Korea (4,400 MT), Japan (3,900 MT), China (2,600 MT), Mexico (1,300 MT), and Taiwan (1,000 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will fall 12.8% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2023: 35,600 |
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Weekly Sales Details |
Net sales of 35,600 MT for 2023 were up 62 percent from the previous week, but down 5 percent from the prior 4-week average. Increases were primarily for Mexico (9,900 MT, including decreases of 300 MT), Japan (6,400 MT, including decreases of 200 MT), China (5,000 MT, including decreases of 100 MT), South Korea (4,100 MT, including decreases of 1,100 MT), and Canada (2,800 MT, including decreases of 400 MT). |
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Weekly Export Details |
Exports of 29,800 MT were down 2 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Mexico (13,500 MT), Japan (3,800 MT), China (3,500 MT), South Korea (2,700 MT), and Canada (1,600 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 0.3% from last year. |
