Corn, beans and wheat export sales sink
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USDA Weekly Export Sales Report Week Ended Feb. 24, 2022 |
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Corn |
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Actual Sales (in MT) |
2021-22: 485,100 |
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Expectations (in MT) |
2021-22: 600,000-1,200,000 |
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Weekly Sales Details |
Net sales of 485,100 MT for 2021/2022 were down 53 percent from the previous week and 47 percent from the prior 4-week average. Increases primarily for Japan (320,400 MT, including 267,700 MT switched from unknown destinations and decreases of 21,000 MT), Mexico (180,200 MT, including decreases of 32,000 MT), Colombia (125,400 MT, including 121,300 MT switched from unknown destinations and decreases of 80,300 MT), the Dominican Republic (48,400 MT, including decreases of 9,600 MT), and Canada (34,000 MT, including decreases of 500 MT), were offset by reductions primarily for unknown destinations (274,600 MT). Net sales of 222,800 MT for 2022/2023 were reported for Japan (192,900 MT, including 167,000 MT - late), Honduras (19,900 MT), and Canada (10,000 MT). |
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Weekly Export Details |
Exports of 1,550,800 MT were down 18 percent from the previous week, but up 7 percent from the prior 4-week average. The destinations were primarily to Japan (456,700 MT), China (344,500 MT), Mexico (330,000 MT), Colombia (121,500 MT), and Canada (110,500 MT). |
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Comments and Performance Indicators |
Export commitments are 19% behind year-ago, steady with last week. USDA projects exports in 2021-22 at 2.425 billion bu., 11.9% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2021-22: 300,000 |
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Expectations (in MT) |
2021-22: 200,000-650,000 |
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Weekly Sales Details |
Net sales of 300,000 metric tons (MT) for 2021/2022 were down 42 percent from the previous week, but up 54 percent from the prior 4-week average. Increases primarily for Mexico (90,100 MT, including decreases of 21,500 MT), Japan (66,900 MT), Taiwan (56,300 MT), Colombia (40,100 MT, including 38,000 MT switched from unknown destinations), and the Philippines (36,700 MT), were offset by reductions primarily for unknown destinations (35,500 MT) and El Salvador (15,200 MT). Net sales of 69,800 MT for 2022/2023 were reported for Mexico (38,000 MT), the Philippines (24,000 MT), Trinidad (5,800 MT), and Honduras (2,000 MT). |
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Weekly Export Details |
Exports of 364,800 MT were down 33 percent from the previous week and 15 percent from the prior 4-week average. The destinations were primarily to Mexico (82,600 MT), the Philippines (67,700 MT), Nigeria (52,600 MT), Colombia (40,100 MT), and Taiwan (38,500 MT). |
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Comments and Performance Indicators |
Export commitments are running 23% behind a year ago, the same as last week. USDA projects exports in 2021-22 at 810 million bu., down 18.3% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
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Expectations (in MT) |
2021-22: 600,000-1,050,000 |
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Weekly Sales Details |
Net sales of 857,000 MT for 2021/2022 were down 31 percent from the previous week and 34 percent from the prior 4-week average. Increases primarily for unknown destinations (345,900 MT), Egypt (178,000 MT), Italy (92,000 MT), Taiwan (69,400 MT, including decreases of 100 MT), and Mexico (63,000 MT, including decreases of 13,000 MT), were offset by reductions for China (15,000 MT) and Costa Rica (1,400 MT). Net sales of 1,386,000 MT for 2022/2023 were reported for China (1,260,000 MT, including 132,000 MT - late) and unknown destinations (126,000 MT). |
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Weekly Export Details |
Exports of 751,000 MT were down 40 percent from the previous week and from the prior 4-week average. The destinations were primarily to China (410,700 MT), Japan (126,400 MT), Mexico (81,400 MT), Colombia (35,400 MT), and Taiwan (32,100 MT). |
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Comments and Performance Indicators |
Export commitments are running at 16% behind year-ago, compared to 17% behind as last week. USDA projects exports in 2021-22 at 2.050 billion bu., down 9.5% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 95,400 |
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Expectations |
2021-22: 100,000-250,000 |
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Weekly Sales Details |
Net sales of 95,400 MT for 2021/2022 were down 59 percent from the previous week and 72 percent from the prior 4-week average. Increases primarily for the Dominican Republic (33,200 MT), the Philippines (19,100 MT, including decreases of 900 MT), unknown destinations (17,000 MT), Canada (16,100 MT, including decreases of 3,000 MT), and Colombia (13,900 MT), were offset by reductions primarily for Costa Rica (25,900 MT), Guatemala (7,000 MT), and El Salvador (3,700 MT). Total net sales of 60,000 MT for 2022/2023 were for unknown destinations. |
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Weekly Export Details |
Exports of 143,000 MT--a marketing-year low--were down 60 percent from the previous week and 48 percent from the prior 4-week average. The destinations were primarily to the Philippines (44,900 MT), Mexico (25,700 MT), Canada (18,500 MT), Nicaragua (11,300 MT), and the Dominican Republic (11,000 MT). |
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Comments and Performance Indicators |
Export commitments are 2% ahead a year-ago, versus 4% ahead last week. USDA projects exports in 2021-22 will climb 4.6% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2021-22: 6,600 |
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Expectations |
2021-22: 5,000-30,000 |
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Weekly Sales Details |
Net sales of 6,600 MT for 2021/2022 were down 81 percent from the previous week and 66 percent from the prior 4-week average. Increases primarily for the Dominican Republic (5,700 MT) and El Salvador (1,500 MT), were offset by reductions for Mexico (1,100 MT) and Guatemala (1,000 MT). |
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Weekly Export Details |
Exports of 13,700 MT were down 50 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to the Dominican Republic (12,000 MT) and Mexico (1,200 MT). |
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Comments and Performance Indicators |
Export commitments are running 5% behind a year-ago, compared to 6% behind last week. USDA projects exports will fall 17.3% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2021-22: 348,600 |
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Net sales of 348,600 RB for 2021/2022 were up 41 percent from the previous week and 51 percent from the prior 4-week average. Increases were primarily for Vietnam (96,900 RB, including 1,200 RB switched from Japan and decreases of 200 RB), China (75,800 RB), Turkey (63,600 RB), Pakistan (42,500 RB, including decreases of 100 RB), and Bangladesh (12,900 RB). Net sales of 105,200 RB for 2022/2023 primarily for Vietnam (75,800 RB), Mexico (15,000 RB), Pakistan (6,200 RB), Bangladesh (3,900 RB), and Indonesia (3,100 RB), were offset by reductions for China (700 RB). Exports of 354,100 RB were down 6 percent from the previous week, but up 14 percent from the prior 4-week average. The destinations were primarily to China (143,600 RB, including 5,200 RB - late), Pakistan (65,200 RB), Vietnam (39,600 RB, including 1,000 RB - late), Turkey (37,400 RB), and Mexico (12,000 RB). Net sales of Pima totaling 7,400 RB were up 51 percent from the previous week and 40 percent from the prior 4-week average. Increases were primarily for India (3,900 RB), China (2,200 RB), Honduras (500 RB), Thailand (300 RB), and Bangladesh (200 RB). Total net sales for 2022/2023 of 900 RB were for Peru. |
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Weekly Export Details |
Exports of 11,000 RB were down 39 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Vietnam (3,200 RB), China (1,900 RB), India (1,900 RB), Peru (1,500 RB), and Egypt (900 RB). |
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Comments and Performance Indicators |
Export commitments are 5% behind year-ago, versus 6% behind last week. USDA forecasts total cotton exports will fall 9.9% from a year-ago to 14.75 million bales in 2021-22. |
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Beef |
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Actual Sales (in MT) |
2022: 23,800 |
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Weekly Sales Details |
Net sales of 23,800 MT for 2022 were up 64 percent from the previous week and 23 percent from the prior 4-week average. Increases were primarily for South Korea (9,800 MT, including decreases of 500 MT), China (4,100 MT, including decreases of 200 MT), Japan (2,800 MT, including decreases of 700 MT), Taiwan (2,000 MT, including decreases of 300 MT), and Canada (1,300 MT). |
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Weekly Export Details |
Exports of 17,600 MT were up 15 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to South Korea (5,200 MT), Japan (4,500 MT), China (2,700 MT), Mexico (1,400 MT), and Taiwan (1,200 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will decline 5.1% from a year-ago. |
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Pork |
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Actual Sales (in MT) |
2022: 42,200 |
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Weekly Sales Details |
Net sales of 42,200 MT for 2022 were up 59 percent from the previous week and 80 percent from the prior 4-week average. Increases were primarily for Mexico (17,000 MT, including decreases of 700 MT), China (16,600 MT, including decreases of 300 MT), Japan (3,000 MT, including decreases of 200 MT), South Korea (2,400 MT, including decreases of 900 MT), and Canada (1,300 MT, including decreases of 400 MT). |
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Weekly Export Details |
Exports of 30,100 MT were unchanged from the previous week, but down 3 percent from the prior 4-week average. The destinations were primarily to Mexico (12,900 MT), Japan (4,500 MT), China (4,300 MT), South Korea (2,800 MT), and Colombia (1,400 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will drop 3.1% from last year. |
