Weekly soybean sales continue at tepid pace
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USDA Weekly Export Sales Report Week Ended Sept. 7, 2023 |
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Corn |
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Actual Sales (in MT) |
2023-24: 753,300 |
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Expectations (in MT) |
2023-24: 500,000-1,100,000 |
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Weekly Sales Details |
Net sales of 753,300 MT for 2023/2024 primarily for China (173,900 MT, including 165,000 MT switched from unknown destinations and decreases of 900 MT), Colombia (147,400 MT, including 50,000 MT switched from unknown destinations and decreases of 33,900 MT), Mexico (129,100 MT, including decreases of 2,900 MT), unknown destinations (67,200 MT), and Japan (52,900 MT, including decreases of 5,100 MT), were offset by reductions for the Dominican Republic (5,000 MT) and Panama (3,400 MT). Total net sales of 25,400 MT for 2024/2025 were for unknown destinations. |
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Weekly Export Details |
Exports of 726,000 MT were primarily to Mexico (245,800 MT), China (223,900 MT), Colombia (153,600 MT), Canada (34,800 MT), and Japan (28,200 MT). |
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Comments and Performance Indicators |
Export commitments are 9.3% behind a year-ago. USDA projects exports in 2022-23 at 2.050 billion bu., 23.1% above the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2023-24: 437,900 |
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Expectations (in MT) |
2023-24: 250,000-600,000 |
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Weekly Sales Details |
Net sales of 437,900 metric tons (MT) for 2023/2024 were up 18 percent from the previous week and 20 percent from the prior 4-week average. Increases primarily for Mexico (112,800 MT, including decreases of 600 MT), Thailand (58,000 MT), Japan (51,600 MT, including decreases of 300 MT), Vietnam (44,900 MT, including decreases of 100 MT), and South Korea (40,500 MT), were offset by reductions for unknown destinations (4,500 MT). |
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Weekly Export Details |
Exports of 411,300 MT were up 30 percent from the previous week and 32 percent from the prior 4-week average. The destinations were primarily to Japan (87,300 MT), Mexico (75,200 MT), Vietnam (65,300 MT), the Philippines (58,200 MT), and China (56,000 MT). |
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Comments and Performance Indicators |
Export commitments are running 18.7% behind a year-ago. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2023-24: 703,900 |
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Expectations (in MT) |
2023-24: 600,000-1,450,000 |
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Weekly Sales Details |
Net sales of 703,900 MT for 2023/2024 primarily for China (295,500 MT, including 55,000 MT switched from unknown destinations and decreases of 66,000 MT), unknown destinations (180,100 MT), the Netherlands (67,500 MT, including 65,000 MT switched from unknown destinations), Spain (58,200 MT, including 53,100 MT switched from unknown destinations), and Mexico (31,800 MT, including decreases of 800 MT), were offset by reductions for Japan (3,200 MT). |
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Weekly Export Details |
Exports of 408,400 MT were primarily to China (116,000 MT), Mexico (109,100 MT), the Netherlands (67,500 MT), Spain (58,200 MT), and Japan (20,600 MT). |
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Comments and Performance Indicators |
Export commitments are running 34.2% behind a year-ago. USDA projects exports in 2023-24 at 1.790 billion bu., down 10.1% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2023-24: 454,700 |
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Expectations |
2023-24: 100,000-400,000 |
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Weekly Sales Details |
Net sales reductions of 201,600 MT for 2022/2023--a marketing year low--were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Mexico (12,800 MT), Canada (6,800 MT), Colombia (3,000 MT, including decreases of 16,500 MT), Belgium (2,700 MT), and Ecuador (2,700 MT, including 3,000 MT switched from Colombia and decreases of 300 MT), were more than offset by reductions primarily for unknown destinations (165,000 MT), Ireland (60,000 MT), Costa Rica (6,200 MT), and Burma (2,800 MT). Net sales of 454,700 MT for 2023/2024 primarily for unknown destinations (225,000 MT), Colombia (60,000 MT), Mexico (50,000 MT), Morocco (25,000 MT), and Canada (23,900 MT), were offset by reductions for Honduras (300 MT). |
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Weekly Export Details fade lackluster |
Exports of 119,700 MT were down 50 percent from the previous week and 47 percent from the prior 4-week average. The destinations were primarily to Colombia (24,300 MT), Mexico (20,800 MT), Canada (19,500 MT), Morocco (15,200 MT), and Spain (10,200 MT). |
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Comments and Performance Indicators |
Export commitments are 7.1% ahead of a year-ago. USDA projects exports in 2022-23 will increase 4.9% 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: (5,000)-10,000 |
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Weekly Sales Details |
Net sales reductions of 3,900 MT for 2022/2023 were up noticeably from the previous week, but down noticeably from the prior 4-week average. Increases reported for Mexico (200 MT), were more than offset by reductions for Canada (4,100 MT). |
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Weekly Export Details |
Exports of 1,600 MT were down 38 percent from the previous week, but up 47 percent from the prior 4-week average. The destinations were to Mexico (1,300 MT) and Canada (300 MT). |
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Comments and Performance Indicators |
Export commitments are running 82.0% behind a year-ago. USDA projects exports will decrease 5.4% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2023-24: 67,400 |
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Net sales of 67,400 RB for 2023/2024 were down 21 percent from the previous week and 27 percent from the prior 4-week average. Increases primarily for Vietnam (25,900 RB, including 300 RB switched from South Korea), Mexico (25,200 RB), China (17,500 RB), Bangladesh (15,200 RB), and Indonesia (6,100 RB, including 200 RB switched from Japan), were offset by reductions for Turkey (25,300 RB), Pakistan (4,400 RB), and South Korea (300 RB). Net sales of 25,300 RB for 2024/2025 were reported for Turkey (19,800 RB), Pakistan (4,400 RB), and Mexico (1,100 RB). |
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Weekly Export Details |
Exports of 118,200 RB were down 33 percent from the previous week and 41 percent from the prior 4-week average. The destinations were primarily to China (58,600 RB), Bangladesh (13,900 RB), Vietnam (8,400 RB), Mexico (8,200 RB), and Pakistan (6,800 RB). Net sales of Pima totaling 1,000 RB for 2023/2024 were down 66 percent from the previous week and 68 percent from the prior 4-week average. Increases were reported for Thailand (900 RB) and Japan (100 RB). Exports of 7,500 RB were up 68 percent from the previous week and 48 percent from the prior 4-week average. The destinations were to India (4,300 RB), China (2,200 RB), Vietnam (900 RB), and Turkey (100 RB). |
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Comments and Performance Indicators |
Export commitments are running 32.4% behind a year-ago. USDA forecasts total cotton exports will fall 3.7% from a year ago to 14.45 million bales in 2023-24. |
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Beef |
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Actual Sales (in MT) |
2023: 6,200 |
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Weekly Sales Details |
Net sales of 6,200 MT for 2023 were down 48 percent from the previous week and 56 percent from the prior 4-week average. Increases primarily for China (2,000 MT, including decreases of 100 MT), Mexico (1,300 MT, including decreases of 400 MT), Japan (600 MT, including decreases of 1,000 MT), Hong Kong (400 MT, including decreases of 100 MT), and Guatemala (400 MT), were offset by reductions for the United Kingdom (100 MT). |
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Weekly Export Details |
Exports of 13,200 MT were down 10 percent from the previous week and 15 percent from the prior 4-week average. The destinations were primarily to South Korea (3,700 MT), China (2,600 MT), Japan (2,100 MT), Mexico (1,000 MT), and Hong Kong (900 MT). |
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Comments and Performance Indicators |
USDA projects 2023 exports will fall 13.8% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2023: 23,100 |
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Weekly Sales Details |
Net sales of 23,100 MT for 2023 were down 12 percent from the previous week and 26 percent from the prior 4-week average. Increases primarily for Mexico (6,300 MT, including decreases of 200 MT), Canada (4,500 MT, including decreases of 700 MT), Japan (4,200 MT, including decreases of 200 MT), South Korea (2,100 MT, including decreases of 500 MT), and Colombia (1,500 MT, including decreases of 100 MT), were offset by reductions for Nicaragua (1,400 MT). |
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Weekly Export Details |
Exports of 20,700 MT were down 32 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to Mexico (7,200 MT), China (3,200 MT), Japan (2,400 MT), South Korea (2,200 MT), and Canada (1,800 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 7.2% from last year. |
