Another Week of Strong Soybean, Pork Export Sales

Posted on 11/29/2019 8:11 AM

USDA Weekly Export Sales Report

Week Ended Nov. 21, 2019

Corn

Actual Sales (in MT)

2019-20: 806,800  

Expectations (in MT)

2019-20: 400,000-900,000

Weekly Sales Details

Net sales of 806,800 metric tons for 2019/2020 were up 2 percent from the previous week and 34 percent from the prior 4-week average.  Increases primarily for Colombia (262,600 MT, including 80,000 MT switched from unknown destinations), unknown destinations (153,700 MT), Costa Rica (101,700 MT), Mexico (87,900 MT, including decreases of 27,000 MT), and Canada (86,000 MT, including decreases of 300 MT), were partially offset by reductions primarily for Honduras (9,500 MT) and El Salvador (3,200 MT).

Weekly Export Details

Exports of 635,300 MT were down 6 percent from the previous week, but up 22 percent from the prior 4-week average.  The destinations were primarily to Mexico (322,300 MT), Colombia (155,200 MT), Japan (76,700 MT), Guatemala (44,200 MT), and Jamaica (15,000 MT).  

Comments and Performance Indicators

Export commitments early in the 2019-20 marketing year are 45% behind year-ago commitments versus 45% behind last week. USDA projects exports in 2019-20 at 1.850 billion bu., down 10.4% from the previous marketing year.

Wheat

Actual Sales (in MT)

2019-20: 612,700

Expectations (in MT)

2019-20: 300,000-600,000

Weekly Sales Details

Net sales of 612,700 metric tons for 2019/2020 were up 40 percent from the previous week and 60 percent from the prior 4-week average.  Increases primarily for the Philippines (194,600 MT), Taiwan (95,700 MT), Japan (65,800 MT, including decreases of 15,500 MT), Bangladesh (60,600 MT), and Guatemala (46,300 MT), were partially offset by reductions primarily for unknown destinations (25,500 MT) and Malaysia (13,000 MT).

Weekly Export Details

Exports of 445,100 MT were down 8 percent from the previous week, but up 1 percent from the prior 4-week average.  The destinations were primarily to the Philippines (119,600 MT), Japan (73,300 MT), Bangladesh (55,600 MT), Mexico (54,900 MT), and Italy (43,000 MT).  

Comments and Performance Indicators

Export commitments are running 8% ahead of year-ago compared with 7% 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: 1,664,100

Expectations (in MT)

2019-20: 600,000-1,200,000

Weekly Sales Details

Net sales of 1,664,100 MT for 2019/2020 were up 14 percent from the previous week and 25 percent from the prior 4-week average.  Increases primarily for China (831,200 MT, including 466,000 MT switched from unknown destinations and decreases of 1,000 MT), Germany (124,300 MT), Indonesia (112,700 MT, including 68,000 MT switched from unknown destinations and decreases of 900 MT), Taiwan (99,800 MT, including decreases of 100 MT), and Egypt  (74,400 MT, including 25,000 MT switched from unknown destinations and decreases of 3,900 MT), were partially offset by reductions primarily for unknown destinations (48,000 MT).

Weekly Export Details

Exports of 2,245,800 MT--a marketing-year high--were up 36 percent from the previous week and 48 percent from the prior 4-week average.  The destinations were primarily to China (1,531,200 MT), Germany (124,300 MT), Indonesia (101,500 MT), Egypt (80,300 MT), and Pakistan (69,300 MT).  

Comments and Performance Indicators

Export commitments early in 2019-20 are 9% ahead of year-ago levels, which compares to 5% ahead of 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)

2019-20: 93,200

Expectations

2019-20: 150,000-300,000

Weekly Sales Details

Net sales of 93,200 MT for 2019/2020 were down 53 percent from the previous week and 62 percent from the prior 4-week average.  Increases primarily for Peru (40,000 MT, including decreases of 10,000 MT), Guatemala (31,900 MT, including 8,100 MT switched from Honduras and 1,300 MT switched from El Salvador), Colombia (12,200 MT, including 11,000 MT switched from unknown destinations and decreases of 10,700 MT), Canada (8,400 MT), and the Dominican Republic (7,700 MT, including decreases of 2,000 MT), were partially offset by reductions for Mexico (17,100 MT), unknown destinations (11,000 MT), and Costa Rica (3,000 MT).

Weekly Export Details

Exports of 213,700 MT were primarily to Colombia (73,300 MT), Mexico (46,400 MT), Ecuador (32,400 MT), Canada (13,500 MT), and Guatemala (13,100 MT).

Comments and Performance Indicators

Export commitments for 2019-20 are running 15% behind year-ago early in the marketing year, which compares to 14% behind last week. USDA projects exports in 2019-20 to edge 1.5% lower from the previous marketing year.

Soyoil

Actual Sales (in MT)

2019-20: 14,900

Expectations

2019-20: 5,000-30,000

Weekly Sales Details

Net sales of 14,900 MT for 2019/2020, primarily for Canada (9,800 MT), Venezuela (5,000 MT), the Dominican Republic (4,800 MT), and Mexico (2,800 MT), were offset by reductions for Guatemala (5,200 MT) and Taiwan (3,000 MT).

Weekly Export Details

Exports of 12,600 MT were primarily to Jamaica (3,500 MT), South Korea (3,000 MT), Guatemala (3,000 MT), and Mexico (2,900 MT).  

Comments and Performance Indicators

Export commitments for the 2019-20 marketing year are running 3% ahead of year-ago early in the marketing year, which compares to 1% ahead of year-ago last week. USDA projects exports in 2019-20 to fall 12.4% from the previous year.

Cotton

Actual Sales (in RB)

2019-20: 281,500

Weekly Sales Details

Net sales of 281,500 RB for 2019/2020 were up 24 percent from the previous week and 33 from the prior 4-week average.  Increases primarily for Vietnam (74,100 RB, including 400 RB switched from Hong Kong), Turkey (67,800 RB), Bangladesh (46,400 RB), Malaysia (39,900 RB), and China (39,600 RB, including decreases of 29,900 RB), were partially offset by reductions primarily for Mexico (67,500 RB).  For 2020/2021, net sales of 23,800 RB were for Malaysia (14,100 RB), Thailand (5,300 RB), Japan (2,600 RB), and Indonesia (1,800 RB).

Weekly Export Details

Exports of 184,400 RB were up 34 percent from the previous week and 36 percent from the prior 4-week average.  Exports were primarily to Vietnam (37,200 RB), Pakistan (28,700 RB), Mexico (21,300 RB), Indonesia (19,900 RB), and China (18,300 RB).  Net sales of Pima totaling 9,200 RB were up 30 percent from the previous week, but down 48 percent from the prior 4-week average.  Increases were primarily for China (2,100 RB), India (2,000 RB), Peru (2,000 RB), Turkey (1,600 RB), and Vietnam (900 RB).  Exports of 11,200 RB were up 91 percent from the previous week and up noticeably from the prior 4-week average.  The primary destinations were India (4,000 RB), Vietnam (3,700 RB), Indonesia (1,000 RB), Turkey (900 RB), and Pakistan (900 RB).  

Comments and Performance Indicators

Export commitments for 2019-20 are 4% ahead of year-ago versus 6% 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: 26,700
2019: 17,600
2020: 9,100

Weekly Sales Details

Net sales of 17,600 MT reported for 2019 were down 2 percent from the previous week, but up 2 percent from the prior 4-week average.  Increases primarily for Canada (4,500 MT), Japan (3,900 MT, including decreases of 300 MT), South Korea (3,400 MT, including decreases of 500 MT), Taiwan (2,100 MT, including decreases of 100 MT), and Mexico (1,500 MT), were partially offset by reductions for the Dominican Republic (100 MT) and Indonesia (100 MT).  For 2020, net sales of 9,100 MT were primarily for Japan (4,600 MT), South Korea (3,300 MT), Taiwan (700 MT), and Canada (200 MT).

Weekly Export Details

Exports of 18,800 MT were down 37 percent from the previous week and 1 percent from the prior 4-week average.  The destinations were primarily to Japan (5,100 MT), South Korea (5,000), Mexico (2,400 MT), Hong Kong (2,100 MT), and Taiwan (1,300 MT).

Comments and Performance Indicators

Last week, USDA reported sales of 21,200 MT for 2019 and 2020. USDA projects 2019 exports will slide 1.8% from year-ago levels.

Pork

Actual Sales (in MT)

Combined: 50,500
2019: 25,600
2020: 24,900

Weekly Sales Details

Net sales of 25,600 MT reported for 2019 were down 53 percent from the previous week and 15 percent from the prior 4-week average.  Increases primarily for Mexico (18,000 MT), China (5,400 MT), Japan (1,600 MT), Canada (1,100 MT), and South Korea (900 MT), were partially offset by reductions primarily for Australia (1,500 MT) and New Zealand (1,100 MT).  For 2020, net sales of 24,900 MT were primarily for China (17,700 MT) and South Korea (6,600 MT).

Weekly Export Details

Exports of 42,300 MT were down 29 percent from the previous week, but up 6 percent from the prior 4-week average.  The primary destinations were to China (15,100 MT), Mexico (11,200 MT), Japan (4,600 MT), South Korea (3,400 MT), and Canada (2,000 MT).

Comments and Performance Indicators

Sales totaled 90,800 in last week’s report. USDA projects exports in 2019 will rise 10.6% from year-ago.

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