Weekly wheat sales show promise, while corn, soybeans falter
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USDA Weekly Export Sales Report Week Ended Feb. 16, 2023 |
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Corn |
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Actual Sales (in MT) |
2022-23: 823,200 |
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Expectations (in MT) |
2022-23: 500,000-1,300,000 |
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Weekly Sales Details |
Net sales of 823,200 MT for 2022/2023 were down 20 percent from the previous week and 30 percent from the prior 4-week average. Increases primarily for Japan (312,000 MT, including 137,000 MT switched from unknown destinations and decreases of 96,000 MT), Mexico (289,600 MT, including decreases of 2,400 MT), Taiwan (77,500 MT, including 70,000 MT switched from China), Colombia (73,200 MT, including decreases of 8,400 MT), and Venezuela (50,000 MT), were offset by reductions for China (69,900 MT) and Italy (35,000 MT). Net sales of 25,500 MT for 2023/2024 were reported for El Salvador (22,500 MT) and unknown destinations (3,000 MT). |
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Weekly Export Details |
Exports of 687,400 MT were up 3 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Mexico (272,300 MT), Japan (137,000 MT), Taiwan (83,600 MT), Guatemala (63,200 MT), and Colombia (36,700 MT). |
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Comments and Performance Indicators |
Export commitments are 39.8% behind a year-ago compared to 40.2% 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: 338,800 |
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Expectations (in MT) |
2022-23: 150,000-500,000 |
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Weekly Sales Details |
Net sales of 338,800 metric tons (MT) for 2022/2023 were up 62 percent from the previous week and 39 percent from the prior 4-week average. Increases primarily for the Philippines (105,000 MT), Mexico (69,000 MT, including decreases of 200 MT), China (68,300 MT, including 65,000 MT switched from unknown destinations), Vietnam (36,000 MT), and Thailand (30,400 MT, including decreases of 200 MT), were offset by reductions for unknown destinations (46,100 MT). Net sales of 80,000 MT for 2023/2024 were reported for unknown destinations (35,000 MT), Nigeria (26,000 MT), and Thailand (19,000 MT). |
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Weekly Export Details |
Exports of 338,000 MT were down 32 percent from the previous week and 25 percent from the prior 4-week average. The destinations were primarily to China (68,300 MT), Japan (64,000 MT), Thailand (56,900 MT), Mexico (55,300 MT), and Taiwan (51,500 MT). |
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Comments and Performance Indicators |
Export commitments are running 2.0% behind a year-ago, compared to 5.5% 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: 544,900 |
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Expectations (in MT) |
2022-23: 300,000-850,000 |
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Weekly Sales Details |
Net sales of 544,900 MT for 2022/2023 were up 20 percent from the previous week, but down 18 percent from the prior 4-week average. Increases primarily for China (176,200 MT, including 119,800 MT switched from unknown destinations, decreases of 3,100 MT, and 21,000 MT - late), Egypt (142,300 MT, including 50,000 MT switched from unknown destinations), the Netherlands (125,200 MT, including 128,000 MT switched from unknown destinations and decreases of 5,600 MT), Germany (124,300 MT, including 66,000 MT switched from unknown destinations), and Indonesia (81,400 MT, including 55,000 MT switched from unknown destinations, decreases of 500 MT, and 6,800 MT - late), were offset by reductions primarily for unknown destinations (311,300 MT). Total net sales of 11,700 MT for 2023/2024 were for Japan. |
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Weekly Export Details |
Exports of 1,739,700 MT were down 6 percent from the previous week and from the prior 4-week average. The destinations were primarily to China (1,057,800 MT, including 16,000 MT - late), the Netherlands (125,200 MT), Germany (124,300 MT), Egypt (90,300 MT), and Indonesia (84,800 MT, including 6,800 MT - late). |
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Comments and Performance Indicators |
Export commitments are running 1.5% behind a year-ago, versus nearly even 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: 65,600 |
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Expectations |
2022-23: 150,000-300,000 |
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Weekly Sales Details |
Net sales of 65,600 MT for 2022/2023 were down 76 percent from the previous week and 72 percent from the prior 4-week average. Increases primarily for Colombia (21,400 MT, including decreases of 16,400 MT), Honduras (11,200 MT, including decreases of 13,700 MT), the Dominican Republic (10,500 MT), Mexico (6,500 MT), and Trinidad and Tobago (4,000 MT), were offset by reductions for Guatemala (100 MT) and Taiwan (100 MT). |
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Weekly Export Details |
Exports of 250,900 MT were up 23 percent from the previous week, but down 8 percent from the prior 4-week average. The destinations were primarily to the Philippines (48,600 MT), Saudi Arabia (46,100 MT), Mexico (34,000 MT), Ecuador (32,300 MT), and the Dominican Republic (31,500 MT). |
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Comments and Performance Indicators |
Export commitments are 8.3% behind a year-ago, compared to 6.4% 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: (800) |
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Expectations |
2022-23: 0-10,000 |
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Weekly Sales Details |
Total net sales reductions of 800 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. The destination was for Canada. |
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Weekly Export Details |
Exports of 5,500 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were to Colombia (5,000 MT) and Canada (500 MT). |
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Comments and Performance Indicators |
Export commitments are running 90.9% behind a year-ago, compared to 90.1% 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: 425,300 |
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Weekly Sales Details |
Net sales of 425,300 RB for 2022/2023--a marketing-year high--were up 96 percent from the previous week and 97 percent from the prior 4-week average. Increases primarily for Vietnam (131,200 RB, including 1,900 RB switched from South Korea and 1,200 RB switched from Japan), Pakistan (95,600 RB), Turkey (79,600 RB, including decreases of 6,800 RB), China (46,200 RB, including decreases of 18,100 RB), and Indonesia (19,200 RB, including 1,300 RB switched from China and 500 RB switched from Japan), were offset by reductions primarily for Colombia (1,300 RB). Net sales of 11,900 RB for 2023/2024 were reported for Turkey (6,600 RB), Thailand (4,000 RB), and Colombia (1,300 RB). Exports of 193,600 RB were up 4 percent from the previous week, but down 1 percent from the prior 4-week average. The destinations were primarily to Pakistan (54,300 RB), China (44,000 RB), Vietnam (28,200 RB), Mexico (17,100 RB), and Turkey (15,700 RB). Net sales of Pima totaling 1,400 RB for 2022/2023 were down 31 percent from the previous week and 30 percent from the prior 4-week average. Increases were reported for Pakistan (700 RB), Thailand (400 RB), Indonesia (200 RB), and Malaysia (100 RB). |
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Weekly Export Details |
Exports of 3,900 RB were down 43 percent from the previous week and 31 percent from the prior 4-week average. The destinations were to China (2,200 RB), Vietnam (700 RB), India (400 RB), Pakistan (400 RB), and Bangladesh (200 RB). |
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Comments and Performance Indicators |
Export commitments are running 17.7% behind a year-ago, versus 19.5% 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: 15,400 |
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Weekly Sales Details |
Net sales of 15,400 MT for 2023 were down 45 percent from the previous week and 35 percent from the prior 4-week average. Increases primarily for China (4,300 MT, including decreases of 100 MT), South Korea (2,800 MT, including decreases of 400 MT), Japan (2,200 MT, including decreases of 600 MT), Taiwan (1,600 MT, including decreases of 100 MT), and Canada (1,200 MT, including decreases of 100 MT), were offset by reductions for Colombia (100 MT). Total net sales of 100 MT for 2024 were for Canada. |
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Weekly Export Details |
Exports of 16,700 MT were unchanged from the previous week and from the prior 4-week average. The destinations were primarily to South Korea (4,600 MT), Japan (4,100 MT), China (3,400 MT), Mexico (1,500 MT), and Taiwan (900 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: 51,900 |
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Weekly Sales Details |
Net sales of 51,900 MT for 2023 were up 16 percent from the previous week and 39 percent from the prior 4-week average. Increases were primarily for Mexico (25,000 MT, including decreases of 300 MT), China (12,100 MT, including decreases of 200 MT), Japan (4,000 MT, including decreases of 200 MT), South Korea (2,700 MT, including decreases of 600 MT), and Colombia (2,300 MT, including decrease of 100 MT). |
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Weekly Export Details |
Exports of 29,200 MT were down 4 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to Mexico (13,000 MT), Japan (3,300 MT), China (3,100 MT), South Korea (2,900 MT), and Canada (2,000 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 0.3% from last year. |
