Weekly corn, soybean sales both top 1 MMT for second straight week
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USDA Weekly Export Sales Report Week Ended Oct. 7, 2021 |
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Corn |
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Actual Sales (in MT) |
2021-22: 1,039,900 |
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Expectations (in MT) |
2021-22: 700,000-1,600,000 |
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Weekly Sales Details |
Net sales of 1,039,900 MT for 2021/2022 were down 18 percent from the previous week, but up 85 percent from the prior 4-week average. Increases primarily for Mexico (790,200 MT, including decreases of 21,400 MT), Guatemala (102,600 MT, including 17,400 MT switched from Panama, 8,800 MT switched from unknown destinations, and decreases of 2,500 MT), Japan (70,400 MT, including 28,300 MT switched from unknown destinations), Costa Rica (51,700 MT, including 12,900 MT switched from Nicaragua, 7,800 MT switched from Guatemala, and decreases of 5,500 MT), and Colombia (49,600 MT, including 33,000 MT switched from unknown destinations and decreases of 30,900 MT), were offset by reductions primarily for unknown destinations (53,100 MT) and Panama (26,700 MT). Net sales of 3,600 MT for 2022/2023 resulting in increases for Costa Rica (3,900 MT), were offset by reductions for Canada (400 MT). |
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Weekly Export Details |
Exports of 918,100 MT were down 6 percent from the previous week, but up 58 percent from the prior 4-week average. The destinations were primarily to Mexico (365,900 MT), China (137,500 MT), Colombia (131,000 MT), Honduras (56,800 MT), and Guatemala (56,700 MT). |
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Comments and Performance Indicators |
Export commitments are 4% ahead of year-ago compared with 3% ahead last week early in the new marketing year. 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: 567,600 |
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Expectations (in MT) |
2021-22: 250,000-500,000 |
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Weekly Sales Details |
Net sales of 567,600 metric tons (MT) for 2021/2022 were up 70 percent from the previous week and 42 percent from the prior 4-week average. Increases primarily for the Philippines (142,000 MT), Mexico (127,800 MT, including decreases of 400 MT), Taiwan (49,600 MT), Nigeria (45,100 MT, including decreases of 1,700 MT), and El Salvador (42,300 MT), were offset by reductions primarily for the Dominican Republic (6,500 MT). |
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Weekly Export Details |
Exports of 458,900 MT were down 16 percent from the previous week and 5 percent from the prior 4-week average. The destinations were primarily to Japan (125,800 MT), Colombia (103,400 MT), China (68,000 MT), Nigeria (48,100 MT), and Taiwan (34,300 MT). |
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Comments and Performance Indicators |
Export commitments are 20% behind year-ago, compared with 21% 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) |
2021-22: 1,147,800 |
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Expectations (in MT) |
2021-22: 600,000-1,400,000 |
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Weekly Sales Details |
Net sales of 1,147,800 MT for 2021/2022 were up 10 percent from the previous week and 9 percent from the prior 4-week average. Increases primarily for China (640,000 MT, including 264,000 MT switched from unknown destinations and decreases of 5,100 MT), Mexico (273,800 MT, including decreases of 600 MT), Egypt (102,500 MT, including 52,000 MT switched from unknown destinations), the Netherlands (68,000 MT, including 65,000 MT switched from unknown destinations and decreases of 3,000 MT), and Bangladesh (57,400 MT, including 55,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (186,400 MT). |
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Weekly Export Details |
Exports of 1,713,800 MT were up 82 percent from the previous week and up noticeably from the prior 4-week average. The destinations were primarily to China (1,285,500 MT), Taiwan (71,500 MT), Mexico (68,900 MT), the Netherlands (68,000 MT), and Bangladesh (57,400 MT).
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Comments and Performance Indicators |
Export commitments are 39% behind year-ago at the start of the marketing year, which compares to 38% ahead a week ago. USDA projects exports in 2021-22 at 2.090 billion bu., down 7.7% from year-ago. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 365,400 |
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Expectations |
2021-22: 100,000-320,000 |
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Weekly Sales Details |
Net sales of 365,400 MT for 2021/2022 primarily for Ecuador (127,800 MT), Canada (74,600 MT, including decreases of 3,800 MT), the Philippines (51,100 MT), Colombia (43,700 MT, including 20,800 MT switched from unknown destinations and decreases of 12,200 MT), and Guatemala (34,100 MT, including 9,600 MT switched from Panama, 6,200 MT switched from El Salvador, 6,000 MT switched from Nicaragua, and decreases of 1,100 MT), were offset by reductions primarily for the United Kingdom (60,000 MT) and Panama (13,900 MT). Total net sales for 2022/2023 of 700 MT were for Canada. |
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Weekly Export Details |
Exports of 301,000 MT were primarily to Mexico (76,700 MT), Japan (63,700 MT), Colombia (33,000 MT), Ecuador (27,600 MT), and Guatemala (25,400 MT). |
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Comments and Performance Indicators |
Export commitments are 12% ahead of year-ago early in the 2021-22 marketing year. USDA projects exports in 2021-22 will climb 2.2% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2021-22: 19,800 |
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Expectations |
2021-22: (5,000)-30,000 |
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Weekly Sales Details |
Net sales of 19,800 MT for 2021/2022 reported for Guatemala (15,100 MT), Costa Rica (4,200 MT), Jamaica (3,000 MT), Nicaragua (1,500 MT), and El Salvador (1,200 MT), were offset by reductions primarily for Cameroon (2,500 MT) and Canada (2,200 MT). |
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Weekly Export Details |
Exports of 500 MT were to Canada.
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Comments and Performance Indicators |
Export commitments for 2020-21 are 41% behind of last year early in the 2021-22 marketing year. USDA projects exports will fall 27.1% this season. |
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Cotton |
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Actual Sales (in RB) |
2021-22: 146,700 |
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Net sales of 146,700 RB for 2021/2022 were down 41 percent from the previous week and 60 percent from the prior 4-week average. Increases primarily for Turkey (62,000 RB), Mexico (52,900 RB), China (12,100 RB, including decreases of 3,100 RB), Thailand (9,500 RB, including 400 RB switched from Indonesia), and Peru (5,800 RB), were offset by reductions for Vietnam (2,200 RB), Honduras (1,700 RB), and Pakistan (1,700 RB). Net sales of 10,600 RB for 2022/2023 resulting in increases for Mexico (15,000 RB), were offset by reductions for Turkey (4,400 RB). Exports of 95,200 RB--a marketing-year low--were down 24 percent from the previous week and 46 percent from the prior 4-week average. The destinations were primarily to Mexico (23,400 RB), China (23,000 RB), Vietnam (11,300 RB), Bangladesh (9,500 RB), and Turkey (6,600 RB). Net sales of Pima totaling 6,400 RB--a marketing-year low--were down 53 percent from the previous week and 60 percent from the prior 4-week average. Increases were primarily for Peru (5,200 RB) and Bangladesh (1,100 RB). |
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Weekly Export Details |
Exports of 10,600 RB were up noticeably from the previous week and up 91 percent from the prior 4-week average. The destinations were primarily to India (6,800 RB), Peru (1,500 RB), South Korea (700 RB), Turkey (600 RB), and Italy (400 RB). |
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Comments and Performance Indicators |
Export commitments are 7% behind 2021-22 compared with 8% last week at the start of the marketing year. 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: 15,700 |
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Weekly Sales Details |
Net sales of 15,700 MT reported for 2021 were up 1 percent from the previous week, but unchanged from the prior 4-week average. Increases were primarily for Japan (4,400 MT, including decreases of 800 MT), China (3,400 MT, including decreases of 100 MT), South Korea (2,400 MT, including decreases of 500 MT), Taiwan (1,900 MT, including decreases of 100 MT), and Mexico (1,700 MT, including decreases of 100 MT). Net sales reductions of 300 MT for 2022 resulting in increases for Chile (500 MT) and Taiwan (300 MT), were more than offset by reductions primarily for South Korea (1,000 MT). |
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Weekly Export Details |
Exports of 15,500 MT were down 1 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to Japan (4,400 MT), South Korea (3,800 MT), China (2,400 MT), Taiwan (1,200 MT), and Mexico (1,100 MT). |
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Comments and Performance Indicators |
USDA projects 2021 exports will climb 15.7% from year-ago levels. |
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Pork |
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Actual Sales (in MT) |
2021: 33,500 |
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Weekly Sales Details |
Net sales of 33,500 MT reported for 2021 were up 51 percent from the previous week and 9 percent from the prior 4-week average. Increases primarily for Japan (11,800 MT, including decreases of 200 MT), Mexico (8,200 MT, including decreases of 700 MT), China (4,300 MT, including decreases of 700 MT), South Korea (3,900 MT, including decreases of 100 MT), and Canada (2,400 MT, including decreases of 600 MT), were offset by reductions for El Salvador (100 MT). |
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Weekly Export Details |
Exports of 29,700 MT were up 2 percent from the previous week, but down 2 percent from the prior 4-week average. The destinations were primarily to Mexico (13,900 MT), China (4,000 MT), Japan (3,600 MT), Colombia (1,900 MT), and South Korea (1,800 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2021 will drop 1.5% from last year. |
