Weekly soybean sales reach marketing year low
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USDA Weekly Export Sales Report Week Ended Feb. 23, 2023 |
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Corn |
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Actual Sales (in MT) |
2022-23: 598,100 |
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Expectations (in MT) |
2022-23: 500,000-1,000,000 |
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Weekly Sales Details |
Net sales of 598,100 MT for 2022/2023 were down 27 percent from the previous week and 48 percent from the prior 4-week average. Increases primarily for Mexico (207,400 MT, including decreases of 6,200 MT), Japan (111,900 MT, including 50,400 MT switched from unknown destinations and decreases of 500 MT), Colombia (103,700 MT, including 66,500 MT switched from unknown destinations and decreases of 10,900 MT), China (76,000 MT), and unknown destinations (30,800 MT), were offset by reductions for Honduras (2,200 MT) and El Salvador (2,000 MT). |
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Weekly Export Details |
Exports of 666,400 MT were down 3 percent from the previous week, but up 13 percent from the prior 4-week average. The destinations were primarily to Mexico (338,700 MT), Colombia (126,700 MT), Japan (85,400 MT), Honduras (51,900 MT), and Canada (14,600 MT). |
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Comments and Performance Indicators |
Export commitments are 39.2% behind a year-ago compared to 39.8% behind last week. USDA projects exports in 2022-23 at 1.925 billion bu., 22% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2022-23: 284,100 |
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Expectations (in MT) |
2022-23: 150,000-600,000 |
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Weekly Sales Details |
Net sales of 284,100 metric tons (MT) for 2022/2023 were down 16 percent from the previous week, but up 39 percent from the prior 4-week average. Increases primarily for Japan (70,800 MT, including decreases of 1,000 MT), Iraq (55,000 MT, including 50,000 MT switched from unknown destinations), Mexico (43,000 MT), South Korea (33,700 MT), and the Philippines (32,800 MT, including decreases of 300 MT), were offset by reductions for unknown destinations (78,000 MT) and Barbados (700 MT). Net sales of 16,800 MT for 2023/2024 were reported for Mexico (11,000 MT), Honduras (5,000 MT), and Japan (800 MT). |
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Weekly Export Details |
Exports of 610,000 MT were up 81 percent from the previous week and 30 percent from the prior 4-week average. The destinations were primarily to Iraq (105,000 MT), South Korea (96,900 MT), Mexico (78,600 MT), Japan (73,900 MT), and Indonesia (68,200 MT). |
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Comments and Performance Indicators |
Export commitments are running 6.3% behind a year-ago, compared to 2.0% 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: 360,700 |
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Expectations (in MT) |
2022-23: 300,000-850,000 |
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Weekly Sales Details |
Net sales of 360,700 MT for 2022/2023--a marketing-year low--were down 14 percent from the previous week and 25 percent from the prior 4-week average. Increases primarily for China (218,400 MT, including 202,000 MT switched from unknown destinations and decreases of 2,400 MT), Germany (125,200 MT), Mexico (91,300 MT, including 47,500 MT switched from unknown destinations and decreases of 1,500 MT), Pakistan (66,000 MT), and the Netherlands (52,300 MT, including 57,000 MT switched from unknown destinations and decreases of 4,700 MT), were offset by reductions primarily for unknown destinations (300,700 MT). Net sales of 134,000 MT for 2023/2024 were reported for China (132,000 MT) and Taiwan (2,000 MT). |
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Weekly Export Details |
Exports of 880,800 MT were down 45 percent from the previous week and 50 percent from the prior 4-week average. The destinations were primarily to China (432,100 MT), Germany (125,200 MT), Mexico (105,300 MT), the Netherlands (52,300 MT), and Algeria (42,100 MT). |
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Comments and Performance Indicators |
Export commitments are running 2.7% behind a year-ago, versus behind 1.5% last week. USDA projects exports in 2022-23 at 1.990 billion bu., down 8.0% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2022-23: 172,400 |
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Expectations |
2022-23: 50,000-300,000 |
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Weekly Sales Details |
Net sales of 172,400 MT for 2022/2023 were up noticeably from the previous week and up 1 percent from the prior 4-week average. Increases primarily for Ecuador (80,000 MT), the Philippines (46,200 MT), Colombia (21,900 MT, including decreases of 25,100 MT), Ireland (19,400 MT switched from the United Kingdom), and Canada (10,800 MT, including decreases of 16,400 MT), were offset by reductions for the United Kingdom (19,400 MT), Mexico (18,600 MT), and Belgium (1,000 MT). Net sales of 40,500 MT for 2023/2024 were reported for Ecuador (40,000 MT) and Japan (500 MT). |
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Weekly Export Details |
Exports of 193,000 MT were down 23 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to South Korea (50,100 MT), Morocco (45,000 MT), Honduras (19,700 MT), Canada (19,600 MT), and Ireland (19,400 MT). |
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Comments and Performance Indicators |
Export commitments are 7.2% behind a year-ago, compared to 8.3% 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: 1,200 |
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Expectations |
2022-23: 0-12,000 |
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Weekly Sales Details |
Net sales of 1,200 MT for 2022/2023 were down noticeably from the previous week and down 54 percent from the prior 4- week average. Increases were reported for Canada (1,100 MT) and the United Arab Emirates (100 MT). |
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Weekly Export Details |
Exports of 400 MT were down 92 percent from the previous week and 82 percent from the prior 4-week average. The destination was to Canada (400 MT). |
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Comments and Performance Indicators |
Export commitments are running 90.8% behind a year-ago, compared to 90.9% behind last week. USDA projects exports will decrease 55% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2022-23: 170,600 |
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Net sales of 170,600 RB for 2022/2023 were down 60 percent from the previous week and 37 percent from the prior 4-week average. Increases primarily for China (81,600 RB), Vietnam (78,900 RB, including 900 RB switched from China and 100 RB switched from Japan), India (18,400 RB), Turkey (15,200 RB), and South Korea (7,900 RB), were offset by reductions for Pakistan (48,000 RB) and Thailand (6,300 RB). Net sales of 97,200 RB for 2023/2024 were reported for Pakistan (88,000 RB), Thailand (7,000 RB), and Indonesia (2,200 RB). Exports of 207,700 RB were up 7 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to Vietnam (50,300 RB), Pakistan (40,900 RB), China (23,200 RB), Turkey (17,600 RB), and Mexico (13,000 RB). Net sales of Pima totaling 1,200 RB for 2022/2023 were down 14 percent from the previous week, but up 23 percent from the prior 4- week average. Increases primarily for China (900 RB switched from Vietnam), Colombia (500 RB), Thailand (300 RB), Turkey (100 RB, including decreases of 200 RB), and Indonesia (100 RB), were offset by reductions for Vietnam (900 RB). |
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Weekly Export Details |
Exports of 3,000 RB were down 25 percent from the previous week and 52 percent from the prior 4-week average. The destinations were to Egypt (900 RB), China (900 RB), India (400 RB), Pakistan (400 RB), and Guatemala (100 RB). |
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Comments and Performance Indicators |
Export commitments are running 18.6% behind a year-ago, versus 17.7% 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: 8,100 |
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Weekly Sales Details |
Net sales of 8,100 MT for 2023 were down 48 percent from the previous week and 62 percent from the prior 4-week average. Increases primarily for Japan (2,600 MT, including decreases of 300 MT), Taiwan (2,300 MT, including decreases of 100 MT), China (1,500 MT, including decreases of 200 MT), Mexico (400 MT), and Hong Kong (400 MT, including decreases of 100 MT), were offset by reductions for South Korea (200 MT) and Colombia (100 MT). |
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Weekly Export Details |
Exports of 16,100 MT were down 4 percent from the previous week and 5 percent from the prior 4-week average. The destinations were primarily to Japan (4,900 MT), South Korea (4,000 MT), China (2,800 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: 31,000 |
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Weekly Sales Details |
Net sales of 31,000 MT for 2023 were down 40 percent from the previous week and 21 percent from the prior 4-week average. Increases primarily for Mexico (13,400 MT, including decreases of 100 MT), South Korea (4,500 MT, including decreases of 600 MT), Japan (4,300 MT, including decreases of 300 MT), Canada (2,300 MT, including decreases of 300 MT), and Australia (1,400 MT), were offset by reductions for Nicaragua (100 MT). |
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Weekly Export Details |
Exports of 30,400 MT were up 4 percent from the previous week, but down 3 percent from the prior 4-week average. The destinations were primarily to Mexico (13,800 MT), China (4,100 MT), Japan (3,800 MT), South Korea (2,200 MT), and Canada (1,500 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 0.3% from last year. |
