Weekly soybean sales prove tepid
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USDA Weekly Export Sales Report Week Ended Nov. 17, 2022 |
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Corn |
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Actual Sales (in MT) |
2022-23: 1,850,300 |
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Expectations (in MT) |
2022-23: 1,700,000-2,500,000 |
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Weekly Sales Details |
Net sales of 1,850,300 MT for 2022/2023 primarily for Mexico (1,704,700 MT, including decreases of 83,400 MT), Saudi Arabia (49,800 MT, including 50,000 MT switched from unknown destinations and decreases of 200 MT), Guatemala (34,800 MT, including decreases of 300 MT), Honduras (19,200 MT, including decreases of 2,200 MT), and Canada (15,200 MT, including decreases of 2,800 MT), were offset by reductions for unknown destinations (21,600 MT). Total net sales of 628,100 MT for 2023/2024 were for Mexico. |
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Weekly Export Details |
Exports of 462,300 MT were primarily to Mexico (229,600 MT), China (70,700 MT), Saudi Arabia (49,800 MT), Honduras (34,700 MT), and Costa Rica (31,800 MT). |
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Comments and Performance Indicators |
Export commitments are 48.4% behind a year-ago compared to 51.8% behind last week. USDA projects exports in 2022-23 at 2.150 billion bu., 13% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2022-23: 511,800 |
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Expectations (in MT) |
2022-23: 250,000-600,000 |
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Weekly Sales Details |
Net sales of 511,800 metric tons (MT) for 2022/2023 primarily for Iraq (200,000 MT), the Philippines (58,000 MT), Mexico (52,500 MT, including decreases of 12,000 MT), Japan (49,900 MT), and Taiwan (43,200 MT, including decreases of 500 MT), were offset by reductions for Italy (2,500 MT). |
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Weekly Export Details |
Exports of 138,400 MT were primarily to Venezuela (30,200 MT), Japan (29,000 MT), Taiwan (25,900 MT), Mexico (23,300 MT), and Honduras (11,000 MT). |
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Comments and Performance Indicators |
Export commitments are running 6.6% behind a year-ago, compared to 6.5% 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: 690,100 |
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Expectations (in MT) |
2022-23: 500,000-1,700,000 |
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Weekly Sales Details |
Net sales of 690,100 MT for 2022/2023 primarily for China (715,200 MT, including 330,000 MT switched from unknown destinations and decreases of 20,300 MT), the Netherlands (177,500 MT, including 176,000 MT switched from unknown destinations and decreases of 5,000 MT), Mexico (119,400 MT, including 47,500 MT switched from unknown destinations and decreases of 12,800 MT), Vietnam (73,700 MT, including 66,000 MT switched from unknown destinations), and Germany (69,700 MT), were offset by reductions primarily for unknown destinations (563,300 MT). Total net sales of 10,000 MT for 2023/2024 were for Japan. |
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Weekly Export Details |
Exports of 2,432,600 MT were primarily to China (1,901,800 MT), the Netherlands (177,500 MT), Mexico (86,400 MT), Vietnam (75,900 MT), and Germany (69,700 MT). |
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Comments and Performance Indicators |
Export commitments are running 1.4% ahead of a year-ago, versus 4.2% 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: 516,400 |
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Expectations |
2022-23: 150,000-300,000 |
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Weekly Sales Details |
Net sales of 516,400 MT for 2022/2023 primarily for the Philippines (99,200 MT, including decreases of 100 MT), Ecuador (90,800 MT), Mexico (61,800 MT), Colombia (52,500 MT), and Chile (45,000 MT), were offset by reductions for Belgium (500 MT). Total net sales of 17,100 MT for 2023/2024 were for Canada. |
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Weekly Export Details |
Exports of 227,100 MT were primarily to the Philippines (50,800 MT), Guatemala (44,900 MT), Ecuador (39,800 MT), Canada (30,100 MT), and Venezuela (26,000 MT). |
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Comments and Performance Indicators |
Export commitments are 6.8% behind year-ago, compared to 14.3% behind a week ago. USDA projects exports in 2022-23 will increase 0.7% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2022-23: (100) |
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Expectations |
2022-23: 0-20,000 |
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Weekly Sales Details |
Net sales reductions of 100 MT for 2022/2023 resulting in increases for Mexico (1,000 MT), were more than offset by reductions for Canada (1,100 MT). |
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Weekly Export Details |
Exports of 1,000 MT were primarily to Canada (800 MT). |
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Comments and Performance Indicators |
Export commitments are running 87.2% behind a year-ago, compared to 84.6% behind last week. USDA projects exports will decrease 21.1% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2022-23: (116,400) |
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Weekly Sales Details |
Net sales reductions of 116,400 RB for 2022/2023 resulting in increases for India (7,500 RB), Indonesia (2,600 RB), Turkey (1,200 RB, including decreases of 1,700 RB), Taiwan (1,100 RB), and Mexico (400 RB), were more than offset by reductions for China (109,500 RB), Pakistan (15,400 RB), El Salvador (4,500 RB), and Peru (400 RB). Net sales of 12,300 RB for 2023/2024 were reported for Turkey (11,000 RB) and Pakistan (1,300 RB). Exports of 143,700 RB were primarily to China (70,700 RB), Pakistan (24,200 RB), Turkey (15,600 RB), Mexico (10,500 RB), and Taiwan (6,400 RB). Net sales of Pima totaling 5,200 RB were reported for China (3,700 RB), Egypt (700 RB), Vietnam (400 RB), Indonesia (300 RB), and Japan (100 RB). |
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Weekly Export Details |
Exports of 3,300 RB were primarily to Egypt (900 RB), Peru (900 RB), Thailand (900 RB), and Djibouti (400 RB). |
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Comments and Performance Indicators |
Export commitments are running 0.3% ahead of year-ago, versus 1.6% ahead of last week. USDA forecasts total cotton exports will fall 14.5% from a year ago to 12.5 million bales in 2022-23. |
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Beef |
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Actual Sales (in MT) |
2022: 12,900 |
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Weekly Sales Details |
Net sales of 12,900 MT for 2022 primarily for South Korea (4,600 MT, including decreases of 400 MT), China (4,100 MT, including decreases of 200 MT), Japan (1,700 MT, including decreases of 700 MT), Mexico (900 MT, including decreases of 100 MT), and Canada (800 MT), were offset by reductions for Taiwan (300 MT) and Indonesia (100 MT). Net sales of 4,000 MT for 2023 were primarily for South Korea (1,800 MT), Taiwan (700 MT), Japan (500 MT), Mexico (500 MT), and China (300 MT). |
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Weekly Export Details |
Exports of 17,300 MT were primarily to South Korea (4,700 MT), Japan (4,200 MT), China (3,100 MT), Mexico (1,600 MT), and Canada (1,300 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will rise 3.8% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2022: 45,800 |
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Weekly Sales Details |
Net sales of 45,800 MT for 2022 were primarily for Mexico (18,200 MT, including decreases of 400 MT), Japan (10,200 MT, including decreases of 300 MT), Canada (4,100 MT, including decreases of 300 MT), Australia (3,900 MT), and South Korea (3,300 MT, including decreases of 100 MT). Net sales of 4,400 MT for 2023 were primarily for Canada (2,900 MT), Mexico (600 MT), Australia (400 MT), Japan (200 MT), and the Dominican Republic (100 MT). |
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Weekly Export Details |
Exports of 33,200 MT were primarily to Mexico (16,300 MT), China (5,000 MT), Japan (3,300 MT), Canada (2,400 MT), and South Korea (2,200 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will increase 9.1% from last year. |
