Weekly Corn and Soybean Sales Top 2 MMT

Posted on 03/09/2017 10:20 AM

USDA Weekly Export Sales Report
Week Ended Sept. 29, 2016

Corn
Actual Sales (in MT)

Total: 2,601,800
2
016-17: 2,060,800
2017-18: 541,000 MT

Trade Expectations (MT) 1,100,000-1,400,000
Weekly Sales Details Net sales of 2,060,800 MT were reported for 2016/2017. The primary destinations were Mexico (1,251,100 MT), Japan (200,100 MT, including 75,400 MT switched from unknown destinations and decreases of 4,500 MT), Saudi Arabia (136,800 MT, including 111,000 MT switched from unknown destinations and decreases of 900 MT), South Korea (128,300 MT, including 125,000 MT switched from unknown destinations and decreases of 400 MT), and Colombia (86,000 MT, including 32,000 MT switched from unknown destinations, and decreases of 8,600 MT). Reductions were for unknown destinations (92,900 MT), Costa Rica (9,900 MT), and Chile (2,900 MT). For 2017/2018, net sales of 541,000 MT were reported for Mexico.
Weekly Export Details Exports of 1,390,200 MT were reported to Japan (376,000 MT), South Korea (261,800 MT), Mexico (166,400 MT), Saudi Arabia (136,800 MT), Taiwan (76,200 MT), Chile (69,800 MT), and Colombia (69,100 MT).
Comments and Performance Indicators Sales topped lofty expectations. Export commitments for 2016-17 are running 87% ahead of of year-ago, compared to 76% ahead the previous week. USDA projects exports in 2016-17 at 2.175 billion bu., up 13.1% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 377,000

Trade Expectations (MT) 400,000-600,000
Weekly Sales Details Net sales of 377,000 metric tons for delivery in marketing year 2016/2017 were down 34 percent from the previous week and 31 percent from the prior 4-week average. Increases were reported for the Philippines (104,000 MT, including 50,000 MT switched from unknown destinations), Japan (97,800 MT), Thailand (75,400 MT, including 15,000 MT switched from unknown destinations and decreases of 4,000 MT), Brazil (62,700 MT, including 30,000 MT switched from Uruguay and 30,000 MT switched from unknown destinations, and decreases of 1,500 MT), Canada (50,000 MT, including 51,000 MT switched from unknown destinations and decreases of 1,000 MT), and Kenya (44,000 MT, including 40,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (202,300 MT) and Uruguay (30,000 MT).
Weekly Export Details Exports of 700,700 MT were down 17 percent from the previous week, but 3 percent from the prior 4-week average. The primary destinations were Brazil (87,200 MT), Japan (70,000 MT), Mexico (62,000 MT), Algeria (56,800 MT), and the Philippines (54,100 MT).
Comments and Performance Indicators Sales were below expectations. Export commitments for 2016-17 are running 27% ahead of year-ago versus 27% ahead the week prior. USDA projects exports in 2016-17 at 950 million bu., up 22.6% from the previous marketing year.
Soybeans
Actual Sales (in MT)

2016-17: 2,179,600

Trade Expectations (MT) 1,200,000-1,500,000
Weekly Sales Details Net sales of 2,179,600 MT for 2016/2017 were reported for China (1,487,000 MT, including 244,600 MT switched from unknown destinations and decreases of 14,500 MT), unknown destinations (318,400 MT), Indonesia (94,400 MT, including 66,000 MT switched from unknown destinations and decreases of 5,100 MT), Japan (72,700 MT, including 27,100 MT switched from unknown destinations and decreases of 600 MT), and Saudi Arabia (65,000 MT). Reductions were reported for Morocco (20,000 MT), Thailand (7,500 MT), South Korea (500 MT), and Peru (500 MT).
Weekly Export Details Exports of 1,026,900 MT were reported to China (779,600 MT), Indonesia (78,300 MT), Japan (57,500 MT), Mexico (41,000 MT), and Costa Rica (15,700 MT).
Comments and Performance Indicators Sales were above lofty expectations. Export commitments for 2016-17 are running 30% ahead of year-ago, compared to 27% ahead the previous week. USDA projects exports in 2016-17 at 1.985 billion bu., up 2.3% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 250,400
2015-16: 19,700
2016-17: 230,700
Trade Expectations (MT)

-25,000-205,000

Weekly Sales Details Net sales of 19,700 MT for 2015/2016 were down 9 percent from the previous week and 48 percent from the prior 4-week average. Increases were reported for El Salvador (9,000 MT, including 6,500 MT switched from unknown destinations and 300 MT switched from Nicaragua), Canada (7,700 MT), the Dominican Republic (6,500 MT), Colombia (6,000 MT, including 5,000 MT switched from unknown destinations), and Ghana (5,000 MT). Reductions were reported for unknown destinations (19,400 MT), Algeria (3,000 MT), and the Philippines (2,300 MT). For 2016/2017, net sales of 230,700 MT reported primarily for Mexico (80,100 MT), Canada (38,000 MT), unknown destinations (37,400 MT), and the Philippines (26,500 MT), were partially offset by reductions for Ghana (5,000 MT).
Weekly Export Details Exports of 177,800 MT were up 1 percent from the previous week and 4 percent from the prior 4-week average. The primary destinations were the Philippines (90,700 MT), Mexico (22,900 MT), Colombia (15,200 MT), Canada (11,700 MT), and El Salvador (11,600 MT).
Comments and Performance Indicators Sales topped expectations. Export commitments for 2016-17 are running 192% ahead of year-ago. USDA projects exports in 2016-17 to be up 4.2% from the previous marketing year.
Soyoil
Actual Sales (in MT)

Combined: 4,100
2015-16: 7,800
2016-17: -3,700

Trade Expectations (MT) -15,000-40,000
Weekly Sales Details Net sales of 7,800 MT for 2015/2016 were up noticeably from the previous week and 82 percent from the prior 4-week average. Increases were reported for the Dominican Republic (7,500 MT) and Canada (400 MT). Reductions were reported for Mexico (200 MT). For 2016/2017, net sales reductions of 3,700 MT resulted as increases for Guatemala (3,000 MT), Mexico (2,300 MT), and the Dominican Republic (900 MT), were more than offset by reductions for unknown destinations (10,000 MT).
Weekly Export Details Exports of 20,700 MT were down 54 percent from the previous week and 14 percent from the prior 4-week average. The primary destinations were the Dominican Republic (17,300 MT), Mexico (2,900 MT), and Canada (400 MT).
Comments and Performance Indicators Sales were at the low end of expectations. Export commitments for the 2016-17 marketing year are running 452% ahead of year-ago. USDA projects exports in 2016-17 to be down 4.2% from the previous year.
Cotton
Actual Sales (in RB)
2016-17: 158,900
Weekly Sales Details Net upland sales of 158,900 RB for 2016/2017 were up 73 percent from the previous week, but down 18 percent from the prior 4-week average. Increases were reported for Vietnam (53,200 RB, including 400 RB switched from Japan and decreases of 1,000 RB), South Korea (37,100 RB), China (29,500 RB), Indonesia (18,600 RB), and Thailand (7,000 RB, including 400 RB switched from Japan and decreases of 100 RB). Reductions were reported for El Salvador (1,200 RB).
Weekly Export Details Exports of 212,500 RB were up 39 percent from the previous week and 29 percent from the prior 4-week average. The primary destinations were Indonesia (43,200 RB), China (26,900 RB), Turkey (24,200 RB), Taiwan (20,000 RB), and Vietnam (19,500 RB).
Comments and Performance Indicators Export commitments for 2016-17 are 56% above year-ago, compared to 61% above the previous week. USDA projects exports to be up 25% from the previous year at 11.5 million bales.
Beef
Actual Sales (in MT)

2016: 17,600
2017: 7,500

Weekly Sales Details Net sales of 17,600 MT for 2016 were up 31 percent from the previous week and 56 percent from the prior 4-week average. Increases were reported for South Korea (7,300 MT), Japan (4,600 MT), Canada (2,100 MT), Taiwan (1,200 MT), and Mexico (1,000 MT). For 2017, net sales of 7,500 MT reported for Japan (4,400 MT), South Korea (1,300 MT), Hong Kong (900 MT), and Taiwan (800 MT).
Weekly Export Details Exports of 13,600 MT were down 3 percent from the previous week, but up 2 percent from the prior 4-week average. The primary destinations were Japan (3,400 MT), South Korea (3,200 MT), Hong Kong (2,300 MT), Mexico (1,500 MT), and Canada (1,300 MT).
Comments and Performance Indicators Weekly export sales compare to 13,400 MT the week prior. USDA projects exports in 2016 to be up 8.6% from last year's total.
Pork
Actual Sales (in MT) 2016: 21,300
2017: -100
Weekly Sales Details Net sales of 21,300 MT for 2016 were up 17 percent from the previous week and 10 percent from the prior 4-week average. Increases were reported for Mexico (6,800 MT), South Korea (6,100 MT), Japan (2,300 MT), China (1,200 MT), and Canada (1,200 MT). For 2017, net sales reductions of 100 MT were reported for Mexico.
Weekly Export Details Exports of 20,800 MT were up 9 percent from the previous week and 14 percent from the prior 4-week average. The primary destinations were Mexico (8,000 MT), Japan (3,900 MT), South Korea (1,600 MT), Canada (1,500 MT), and Hong Kong (1,300 MT).
Comments and Performance Indicators

Export sales compare to 18,200 MT the prior week. USDA projects exports in 2016 to be 3.7% above last year's total.

 

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