Cotton export sales hit marketing-year low
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USDA Weekly Export Sales Report Week Ended March 31, 2022 |
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Corn |
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Actual Sales (in MT) |
2021-22: 782,400 |
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Expectations (in MT) |
2021-22: 475,000-1,000,000 |
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Weekly Sales Details |
Net sales of 782,400 MT for 2021/2022 were up 23 percent from the previous week, but down 44 percent from the prior 4-week average. Increases primarily for Mexico (261,000 MT, including 32,000 MT switched from unknown destinations and decreases of 47,300 MT), Japan (216,000 MT, including 143,100 MT switched from unknown destinations and decreases of 4,100 MT), South Korea (192,100 MT, including 133,000 MT switched from unknown destinations and decreases of 6,100 MT), Saudi Arabia (157,000 MT, including 147,000 MT switched from unknown destinations), and Spain (64,100 MT, including 65,000 MT switched from unknown destinations and decreases of 1,800 MT), were offset by reductions primarily for unknown destinations (199,800 MT). Net sales of 145,200 MT for 2022/2023 were reported for unknown destinations (136,000 MT) and Canada (9,200 MT). |
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Weekly Export Details |
Exports of 1,633,000 MT were down 13 percent from the previous week, but up 2 percent from the prior 4-week average. The destinations were primarily to China (458,700 MT), Mexico (328,100 MT), Japan (180,000 MT), Saudi Arabia (157,000 MT), and South Korea (122,900 MT). |
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Comments and Performance Indicators |
Export commitments are 18% behind year-ago, the same as last week. USDA projects exports in 2021-22 at 2.500 billion bu., 9.2% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2021-22: 156,300 |
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Expectations (in MT) |
2021-22: 50,000-500,000 |
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Weekly Sales Details |
Net sales of 156,300 metric tons (MT) for 2021/2022 were up 65 percent from the previous week, but down 11 percent from the prior 4-week average. Increases primarily for Indonesia (55,000 MT), Taiwan (41,700 MT), Italy (20,000 MT), Mexico (18,000 MT, including decreases of 200 MT), and Thailand (15,100 MT, including 13,000 MT switched from the Philippines and decreases of 400 MT), were offset by reductions primarily for Guatemala (15,000 MT) and the Philippines (9,700 MT). Net sales of 223,000 MT for 2022/2023 were primarily for unknown destinations (75,000 MT), the Philippines (59,500 MT), Mexico (41,000 MT), South Korea (30,000 MT), and the Dominican Republic (10,000 MT). |
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Weekly Export Details |
Exports of 309,800 MT were down 11 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to the Philippines (88,300 MT), Mexico (80,900 MT), Taiwan (36,600 MT), Nigeria (29,100 MT), and Thailand (26,600 MT). |
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Comments and Performance Indicators |
Export commitments are running 24% behind a year-ago, the same as last week. USDA projects exports in 2021-22 at 800 million bu., down 19.4% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2021-22: 500,000-1,150,000 |
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Expectations (in MT) |
2021-22: 800,700 |
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Weekly Sales Details |
Net sales of 800,700 MT for 2021/2022 were down 39 percent from the previous week and 38 percent from the prior 4-week average. Increases primarily for China (435,700 MT, including 66,000 MT switched from unknown destinations, decreases of 2,300 MT, and 67,000 MT - late), Egypt (154,000 MT, including 50,000 MT switched from unknown destinations and decreases of 7,100 MT), Canada (73,000 MT), unknown destinations (31,600 MT), and Mexico (29,600 MT, including decreases of 1,700 MT), were offset by reductions for Indonesia (7,500 MT). Net sales of 298,500 MT for 2022/2023 were reported for Mexico (208,000 MT), unknown destinations (65,000 MT), and Japan (25,500 MT). |
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Weekly Export Details |
Exports of 832,800 MT were up 24 percent from the previous week and 20 percent from the prior 4-week average. The destinations were primarily to China (458,800 MT, including 67,000 MT - late), Egypt (156,000 MT), Mexico (74,300 MT), Japan (36,700 MT), and Indonesia (36,200 MT). |
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Comments and Performance Indicators |
Export commitments are running at 7% behind year-ago, compared to 9% behind last week. USDA projects exports in 2021-22 at 2.090 billion bu., down 7.6% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 66,200 |
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Expectations |
2021-22: 100,000-300,000 |
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Weekly Sales Details |
Net sales of 66,200 MT for 2021/2022 were down 36 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Colombia (26,200 MT, including 21,000 MT switched from unknown destinations and decreases of 1,900 MT), Mexico (16,500 MT), the Dominican Republic (9,500 MT), Japan (7,900 MT), and Jamaica (6,500 MT), were offset by reductions primarily for unknown destinations (21,000 MT) and Guatemala (6,000 MT). |
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Weekly Export Details |
Exports of 237,800 MT were unchanged from the previous week, but up 8 percent from the prior 4-week average. The destinations were primarily to the Philippines (101,200 MT), Colombia (31,200 MT), Mexico (28,200 MT), Guatemala (15,100 MT), and the Dominican Republic (13,900 MT). |
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Comments and Performance Indicators |
Export commitments are 2% ahead of a year-ago, the same as 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: 6,200 |
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Expectations |
2021-22: 5,000-30,000 |
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Weekly Sales Details |
Net sales of 6,200 MT for 2021/2022 were down 80 percent from the previous week and 63 percent from the prior 4-week average. Increases primarily for South Korea (24,000 MT, including 20,000 MT switched from unknown destinations) and Hong Kong (2,000 MT), were offset by reductions primarily for unknown destinations (20,000 MT). |
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Weekly Export Details |
Exports of 50,200 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to India (31,100 MT), South Korea (13,000 MT), El Salvador (2,900 MT), Guatemala (2,600 MT), and Canada (400 MT). |
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Comments and Performance Indicators |
Export commitments are running 2% behind a year-ago, compared to 1% behind last week. USDA projects exports will fall 5.7% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2021-22: 62,900 |
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Net sales of 62,900 RB for 2021/2022--a marketing-year low--were down 73 percent from the previous week and 80 percent from the prior 4-week average. Increases primarily for Vietnam (42,100 RB, including 1,600 RB switched from China, 900 RB switched from South Korea, 200 RB switched from Japan, and decreases of 2,500 RB), Turkey (23,700 RB), Colombia (5,600 RB), Japan (5,200 RB, including 400 RB switched from Indonesia and decreases of 300 RB), and India (2,800 RB, including decreases of 8,800 RB), were offset by reductions primarily for China (23,900 RB) and Pakistan (3,600 RB). Net sales of 64,400 RB for 2022/2023 were primarily for Turkey (26,400 RB), Guatemala (11,400 RB), Mexico (10,400 RB), Vietnam (10,200 RB), and Thailand (2,700 RB). |
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Weekly Export Details |
Exports of 455,500 RB--a marketing-year high--were up 38 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to China (171,300 RB), Turkey (75,400 RB), Pakistan (69,600 RB), Vietnam (38,800 RB), and Mexico (20,600 RB). Net sales of Pima totaling 6,600 RB were down 11 percent from the previous week, but up 13 percent from the prior 4-week average. Increases were primarily for China (4,400 RB), India (1,800 RB), and Indonesia (400 RB). Total net sales of 7,400 RB for 2022/2023 were for India. Exports of 12,200 RB were up 1 percent from the previous week and from the prior 4-week average. The destinations were primarily to India (6,000 RB), Peru (1,800 RB), China (1,300 RB), Thailand (900 RB), and Greece (600 RB). |
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Comments and Performance Indicators |
Export commitments are 4% behind year-ago, versus 3% 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: 14,000 |
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Weekly Sales Details |
Net sales of 14,000 MT for 2022 were down 39 percent from the previous week and 43 percent from the prior 4-week average. Increases were primarily for Japan (6,500 MT, including decreases of 400 MT), South Korea (3,900 MT, including decreases of 800 MT), Mexico (800 MT), Taiwan (700 MT, including decreases of 100 MT), and Hong Kong (500 MT). |
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Weekly Export Details |
Exports of 19,300 MT were down 5 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to Japan (5,400 MT), South Korea (5,400 MT), China (3,400 MT), Taiwan (1,500 MT), and Mexico (900 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will decline 4.3% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2022: 41,200 |
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Weekly Sales Details |
Net sales of 41,200 MT for 2022 were up 49 percent from the previous week and 44 percent from the prior 4-week average. Increases primarily for Mexico (13,200 MT, including decreases of 300 MT), China (13,000 MT, including decreases of 400 MT), Japan (5,100 MT, including decreases of 600 MT), Colombia (2,300 MT), and South Korea (2,300 MT, including decreases of 1,000 MT), were offset by reductions for Chile (100 MT). |
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Weekly Export Details |
Exports of 29,000 MT were down 5 percent from the previous week, but up 2 percent from the prior 4-week average. The destinations were primarily to Mexico (13,500 MT), Japan (3,800 MT), China (3,600 MT), South Korea (2,300 MT), and Canada (1,400 MT).
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Comments and Performance Indicators |
USDA projects exports in 2022 will drop 4.3% from last year. |
