Soybean and Wheat Export Sales Top Expectations

Posted on 03/09/2017 10:22 AM

USDA Weekly Export Sales Report
Week Ended June 9, 2016

Corn
Actual Sales (in MT)

Combined: 1,088,400
2015-16: 909,700

2016-17: 178,700

Trade Expectations (MT) 1,100,000-1,600,000
Weekly Sales Details Net sales of 909,700 MT for 2015-16 were down 39% from the previous week and 36% from the prior four-week average. Increases were reported for Japan (256,700 MT, including 105,800 MT switched from unknown destinations and decreases of 2,700 MT), South Korea (123,200 MT, including 120,000 MT switched from unknown destinations and decreases of 3,500 MT), Colombia (92,900 MT), Morocco (89,700 MT, including 22,700 MT switched from unknown destinations), Chile (89,200 MT, including 85,000 MT switched from unknown destinations), Algeria (76,900 MT, including 30,000 MT switched from unknown destinations and decreases of 700 MT), and Tunisia (63,000 MT, including 60,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (218,200 MT), New Zealand (26,700 MT), Saudi Arabia (5,000 MT), and Panama (1,800 MT). For 2016-17, net sales of 178,700 MT were reported for unknown destinations (42,700 MT), Mexico (40,000 MT), Japan (30,500 MT), and Panama (21,500 MT).
Weekly Export Details Exports of 1,507,900 MT--a marketing-year high--were up 27% from the previous week and 42% from the prior four-week average. The primary destinations were Japan (215,600 MT), Mexico (195,600 MT), South Korea (190,300 MT), Egypt (160,500 MT), Chile (89,200 MT), Peru (79,700 MT), and Taiwan (76,900 MT).
Comments and Performance Indicators Sales were just below expectations. Export commitments for 2015-16 are running 2% ahead of year-ago, compared to 2% ahead of year-ago the week prior. USDA projects exports in 2015-16 at 1.825 billion bu., down 2.1% from the previous marketing year.
Wheat
Actual Sales (in MT)

2016-17: 762,900

Trade Expectations (MT) 250,000-450,000
Weekly Sales Details Net sales of 762,900 metric tons were reported for delivery in marketing year 2016-17. The primary destinations were unknown destinations (126,100 MT), Mexico (91,000 MT), South Korea (75,200 MT), Japan (66,600 MT, including 31,700 MT switched from unknown destinations and decreases of 6,700 MT), Thailand (55,000 MT), Colombia (49,900 MT), and Chile (45,000 MT). Reductions were for Malaysia (3,100 MT).
Weekly Export Details Exports of 351,800 MT were reported to Japan (74,300 MT), the Philippines (50,500 MT), Mexico (46,300 MT), Nigeria (43,200 MT), Guatemala (36,900 MT), and Peru (34,400 MT).
Comments and Performance Indicators Sales well above expectations. Export commitments for 2016-17 are running 30% ahead of year-ago versus 22% ahead the week prior. USDA projects exports in 2016-17 at 900 million bu., up 16.1% from the previous marketing year.
Soybeans
Actual Sales (in MT)

Combined: 1,585,000
2015-16: 816,400
2016-17: 768,600

Trade Expectations (MT) 1,000,000-1,400,000
Weekly Sales Details Net sales of 816,400 MT for 2015-16 were up 8% from the previous week and 57% from the prior four-week average. Increases were reported for unknown destinations (356,500 MT), China (186,500 MT), Saudi Arabia (66,000 MT), Indonesia (58,700 MT), Italy (55,000 MT), and Japan (54,500 MT). Reductions were reported for Iran (60,000 MT) and Mexico (32,600 MT). For 2016-17, net sales of 768,600 MT were reported primarily for China (475,000 MT), unknown destinations (185,000 MT), Mexico (42,000 MT), Taiwan (36,000 MT), and Japan (20,100 MT).
Weekly Export Details Exports of 124,800 MT were down 1% from the previous week and 27% from the prior four-week average. The primary destinations were Mexico (52,000 MT), Costa Rica (15,800 MT), Colombia (12,600 MT), Morocco (10,300 MT), and Taiwan (8,200 MT).
Comments and Performance Indicators Sales topped lofty expectations. Export commitments for 2015-16 are running 2% behind year-ago, compared to 4% behind year-ago the week prior. USDA projects exports in 2015-16 at 1.760 billion bu., down 4.5% from year-ago.
Soymeal
Actual Sales (in MT) Combined: 192,900
2015-16: 84,400
2016-17: 108,500
Trade Expectations (MT)

150,000-450,000

Weekly Sales Details Net sales of 84,400 MT for 2015-16 were up 91% from the previous week, but down 5% from the prior four-week average. Increases were reported for Honduras (21,400 MT, including 5,700 MT switched from unknown destinations and decreases of 400 MT), the Dominican Republic (16,800 MT), Colombia (10,800 MT), Nicaragua (10,100 MT), and Guatemala (10,100 MT, including 9,200 MT switched from unknown destinations). Reductions were reported for unknown destinations (7,600 MT) and Panama (1,100 MT). For 2016-17, net sales of 108,500 MT were reported for Thailand (80,000 MT), unknown destinations (18,200 MT) and Panama (7,100 MT).
Weekly Export Details Exports of 88,400 MT were down 69% from the previous week and 60% from the prior four-week average. The primary destinations were Mexico (21,000 MT), Canada (14,600 MT), Panama (12,800 MT), Honduras (12,400 MT), and Guatemala (10,100 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for 2015-16 are running 12% behind last year's pace, compared to 12% behind the week prior. USDA projects exports in 2015-16 will be down 12.5% from the previous marketing year.
Soyoil
Actual Sales (in MT)

Combined: 15,700
2015-16: 13,800
2016-17: 1,900

Trade Expectations (MT) 10,000-50,000
Weekly Sales Details Net sales of 13,800 MT for 2015-16 were down 5% from the previous week and 70% from the prior four-week average. Increases were reported for Venezuela (10,000 MT) and the Dominican Republic (5,300 MT). Reductions were reported for Mexico (1,800 MT). For 2016-17, net sales of 1,900 MT were reported for Mexico.
Weekly Export Details Exports of 6,900 MT were down 70% from the previous week and 55% from the prior four-week average. The primary destinations were Mexico (6,700 MT) and Panama (100 MT).
Comments and Performance Indicators Sales were within expectations. Export commitments for the 2015-16 marketing year are running 31% ahead of year-ago compared to 29% ahead the week prior. USDA projects exports in 2015-16 to be up 4.3% from the previous marketing year.
Cotton
Actual Sales (in RB) Combined: 101,900
2015-16: 64,100
2016-17: 37,800
Weekly Sales Details Net upland sales totaling 64,100 RB for 2015-16 were down 42% from the previous week and 54% from the prior four-week average. Increases were reported for Vietnam (30,200 RB, including 500 RB switched from Japan and decreases of 200 RB), Pakistan (8,900 RB), Indonesia (7,200 RB, including 1,400 RB switched from Japan), Taiwan (6,000 RB), and Turkey (5,400 RB). Reductions were reported for Japan (2,900 RB), Nicaragua (200 RB), and El Salvador (200 RB). For 2016-17, net sales of 37,800 RB reported primarily for Mexico (15,400 RB), Turkey (9,800 RB), Indonesia (6,600 RB), and Vietnam (4,100 RB), were partially offset by reductions for Nicaragua (200 RB).
Weekly Export Details Exports of 140,800 RB were down 31% from the previous week and 38% from the prior four-week average. The primary destinations were Vietnam (37,100 RB), Turkey (22,900 RB), Mexico (22,300 RB), China (16,800 RB), and Indonesia (14,800 RB).
Comments and Performance Indicators Export commitments for 2015-16 are 21% behind year-ago compared to 21% behind last week. USDA projects exports in 2015-16 at 9.00 million bales, down 20% from year-ago.
Beef
Actual Sales (in MT)

2016: 15,100

Weekly Sales Details Net sales of 15,100 MT for 2016 were up 20% from the previous week and 16% from the prior four-week average. Increases were reported for South Korea (5,100 MT), Japan (3,700 MT), Mexico (2,000 MT), Canada (1,700 MT), and Taiwan (1,700 MT).
Weekly Export Details Exports of 13,300 MT were up 8% from the previous week and 2% from the prior four-week average. The primary destinations were Japan (5,000 MT), South Korea (2,800 MT), Mexico (1,600 MT), Canada (1,400 MT), and Hong Kong (800 MT).
Comments and Performance Indicators Weekly export sales totaled 12,600 MT the week prior. USDA projects exports in 2016 to be up 8.7% from last year's total.
Pork
Actual Sales (in MT) 2016: 13,300
Weekly Sales Details Net sales of 13,300 MT for 2016 were down 21% from the previous week and 12% from the prior four-week average. Increases were reported for Japan (4,400 MT), Mexico (3,800 MT), Canada (1,400 MT), South Korea (1,000 MT), and the Philippines (600 MT). Reductions were reported for New Zealand (100 MT).
Weekly Export Details Exports of 21,100 MT were up 25% from the previous week and 4% from the prior four-week average. The primary destinations were Mexico (6,200 MT), Japan (4,600 MT), China (3,500 MT), South Korea (1,700 MT), and Canada (1,200 MT).
Comments and Performance Indicators Last week, export sales totaled 16,700 MT. USDA projects exports in 2016 to be 5.2% above last year's total.

 

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