Big Pork Sales, with Mexico the Top Buyer

Posted on 10/31/2019 8:02 AM

USDA Weekly Export Sales Report

Week Ended Oct. 25, 2019

Corn

Actual Sales (in MT)

2019-20: 549,100

Expectations (in MT)

2019-20: 300,000-800,000

Weekly Sales Details

Net sales of 549,100 metric tons for 2019/2020 were up 12 percent from the previous week and 29 percent from the prior 4-week average.  Increases primarily for Mexico (297,400 MT, including decreases of 45,800 MT), Saudi Arabia (73,300 MT, including 67,500 MT switched from unknown destinations), Japan (67,200 MT, including 61,300 MT switched from unknown destinations and decreases of 2,400 MT), unknown destinations (39,000 MT), and Costa Rica (31,700 MT, including 9,300 MT switched from Honduras and decreases of 500 MT), were partially offset by reductions primarily for Canada (4,600 MT) and Guatemala (1,700 MT). 

Weekly Export Details

Exports of 494,300 MT were up 1 percent from the previous week, but unchanged from the prior 4-week average.  The destinations were primarily to Mexico (204,600 MT), Japan (112,800 MT), Saudi Arabia (73,300 MT), Honduras (37,800 MT), and Colombia (24,400 MT).  

Comments and Performance Indicators

Export commitments early in the 2019-20 marketing year are 48% behind year-ago commitments versus 49% behind last week. USDA projects exports in 2019-20 at 1.900 billion bu., down 8.0% from the previous marketing year.

Wheat

Actual Sales (in MT)

2019-20: 493,800

Expectations (in MT)

2019-20: 200,000-500,000

Weekly Sales Details

Net sales of 493,800 metric tons for 2019/2020 were up 88 percent from the previous week and 31 percent from the prior 4-week average.  Increases primarily for Japan (117,700 MT), the Philippines (112,000 MT, including decreases of 4,000 MT), unknown destinations (79,200 MT), Italy (59,600 MT, including decreases of 900 MT), and Taiwan (51,200 MT), were partially offset by reductions primarily for Ecuador (25,000 MT) and Nigeria (24,000 MT).

Weekly Export Details

Exports of 422,500 MT were down 15 percent from the previous week and 18 percent from the prior 4-week average.  The destinations were primarily to Mexico (70,900 MT), Japan (68,100 MT), Taiwan (49,200 MT), Yemen (44,000 MT), and Guatemala (33,500 MT).  

Comments and Performance Indicators

Export commitments are running 11% ahead of year-ago compared with 12% ahead the week prior. USDA projects exports in 2019-20 at 950 million bu., up 1.5% from the previous marketing year.

Soybeans

Actual Sales (in MT)

2019-20: 943,600

Expectations (in MT)

2019-20: 500,000-1,100,000

Weekly Sales Details

Net sales of 943,600 metric tons for 2019/2020 were up 99 percent from the previous week, but down 39 percent from the prior 4-week average.  Increases primarily for China (481,000 MT, including 68,000 MT switched from unknown destinations and decreases of 7,100 MT), Germany (135,900 MT, switched from the Netherlands), Thailand (95,400 MT, including 65,000 MT switched from unknown destinations and decreases of 400 MT), Japan (90,400  MT, including 90,700 MT switched from unknown destinations and decreases of 2,100 MT), and Spain (87,500 MT, including 83,000 MT switched from unknown destinations), were partially offset by reductions for unknown destinations (351,500 MT).

Weekly Export Details

Exports of 1,723,300 MT were up 25 percent from the previous week and 63 percent from the prior 4-week average.  The destinations were primarily to China (536,000 MT), Mexico (207,500 MT), the Netherlands (141,200 MT), Germany (135,900 MT), and Egypt (105,200 MT).  

Comments and Performance Indicators

Export commitments early in 2019-20 are 10% behind year-ago levels, which compares to 12% behind year-ago last week. USDA projects exports in 2019-20 at 1.775 billion bu., up 1.5% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 179,500
2019-20: 179,100
2020-21: 400

Expectations

2019-20: 100,000-250,000

Weekly Sales Details

Net sales of 179,100 MT for the 2019/2020, primarily for Mexico (80,500 MT), the Dominican Republic (33,600 MT), the Philippines (20,000 MT, including decreases of 100 MT), Burma (16,000 MT), and Canada (12,700 MT), were partially offset by reductions for unknown destinations (12,200 MT), Panama (3,000 MT), and Qatar (1,000 MT).  For 2020/2021, total net sales of 400 MT were for Canada.

Weekly Export Details

Exports of 147,900 MT were primarily to Colombia (54,600 MT), Mexico (30,000 MT), Italy (25,800 MT), Canada (21,200 MT), and Sri Lanka (4,200 MT).

Comments and Performance Indicators

Export commitments for 2019-20 are running 15% behind year-ago early in the marketing year, which compares to 12% behind last week. USDA projects exports in 2019-20 to edge 0.7% higher from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 30,100
2019-20: 29,900
2020-21: 200

Expectations

2019-20: 0-24,000

Weekly Sales Details

Net sales of 29,900 MT for 2019/2020 primarily for Colombia (11,000 MT), South Korea (10,000 MT), Mexico (6,000 MT), the Dominican Republic (2,500 MT), and Canada (1,400 MT), were partially offset by reductions for Honduras (1,000 MT).  For 2020/2021, total net sales of 200 MT were for Canada.

Weekly Export Details

Exports of 9,700 MT were primarily to the Dominican Republic (5,000 MT), Colombia (2,500 MT), and Mexico (1,800 MT).

Comments and Performance Indicators

Export commitments for the 2019-20 marketing year are running 4% ahead of year-ago early in the marketing year, which compares to steady with year-ago last week. USDA projects exports in 2019-20 to fall 14.8% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 179,400
2019-20: 108,100
2020-21: 71,300

Weekly Sales Details

Net sales of 108,100 RB for 2019/2020 were down 23 percent from the previous week and 39 percent from the prior 4-week average.  Increases primarily for Turkey (60,500 RB), Pakistan (60,500 RB), Vietnam (31,400 RB, including 200 RB switched from Japan), South Korea (6,400 RB), and Bangladesh (5,600 RB), were partially offset by reductions primarily for Indonesia (60,000 RB), the Philippines (4,400 RB), and Hong Kong (1,100 RB).  For 2020/2021, total net sales of 71,300 RB were for Indonesia.  Exports of 149,000 RB were unchanged from the previous week, but down 1 percent from the prior 4-week average. 

Weekly Export Details

Exports were primarily to Vietnam (46,200 RB), Indonesia (16,700 RB), Mexico (15,800 RB), Pakistan (11,200 RB), and China (9,900 RB).

Comments and Performance Indicators

Export commitments for 2019-20 are 3% ahead of year-ago versus 1% ahead of year-ago last week. USDA forecasts total cotton exports to fall rise 11.8% to 16.5 million bales this marketing year.

Beef

Actual Sales (in MT)

Combined: 16,100
2019: 15,700
2020: 400

Weekly Sales Details

Net sales of 15,700 MT reported for 2019 were up 14 percent from the previous week and up noticeably from the prior 4-week average.  Increases were primarily for Japan (4,900 MT, including decreases of 200 MT), South Korea (4,200 MT, including decreases of 700 MT), Hong Kong (2,700 MT, including decreases of 200 MT), Mexico (1,200 MT, including decreases of 100 MT), and Canada (1,000 MT).  For 2020, net sales of 400 MT were primarily for Hong Kong (200 MT) and Taiwan (100 MT).

Weekly Export Details

Exports of 14,600 MT were down 11 percent from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to Japan (4,100 MT), South Korea (4,100 MT), Hong Kong (1,700 MT), Mexico (1,600 MT), and Taiwan (1,000 MT).

Comments and Performance Indicators

Last week, USDA reported sales of 18,900 MT for 2019 and 2020. USDA projects 2019 exports to slide 1.1% from year-ago levels.

Pork

Actual Sales (in MT)

Combined: 31,900
2019: 30,100
2020: 1,800

Weekly Sales Details

Net sales of 30,100 MT reported for 2019 were up 57 percent from the previous week, but down 68 percent from the prior 4-week average.  Increases primarily for Mexico (16,900 MT), South Korea (2,700 MT), Japan (2,700 MT), Canada (2,300 MT), and China (1,900 MT), were partially offset by reductions for Chile (100 MT).  For 2020, net sales of 1,800 MT resulting in increases for Australia (4,600 MT), South Korea (1,100 MT), and Chile (200 MT), were partially offset by reductions for China (4,200 MT). 

Weekly Export Details

Exports of 32,500 MT were up 2 percent from the previous week, but down 56 percent from the prior 4-week average.  The primary destinations were to China (10,200 MT), Mexico (9,100 MT), Japan (4,200 MT), South Korea (3,500 MT), and Canada (1,900 MT).

Comments and Performance Indicators

Sales totaled 20,400 in last week’s report. USDA projects exports in 2019 will rise 12.0% from year-ago.

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