Poor week for grain/soy export sales, strong week for meat sales

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USDA Weekly Export Sales Report

Week Ended May 5, 2022

Corn

Actual Sales (in MT)

2021-22: 192,700
2022-23: 46,600

 

Expectations (in MT)

2021-22: 350,000-700,000
2022-23: 150,000-650,000

Weekly Sales Details

Net sales of 192,700 MT for 2021/2022--a marketing-year low--were down 75 percent from the previous week and 80 percent from the prior 4-week average.  Increases primarily for Japan (132,600 MT, including 23,300 MT switched from unknown destinations and decreases of 900 MT), South Korea (131,700 MT, including 133,000 MT switched from unknown destinations and decreases of 2,900 MT), Spain (73,700 MT, including 68,000 MT switched from unknown destinations), Colombia (57,100 MT, including 50,000 MT switched from unknown destinations and decreases of 57,700 MT), and Canada (41,400 MT, including decreases of 300 MT), were offset by reductions primarily for unknown destinations (304,000 MT).  Net sales of 46,600 MT for 2022/2023 were reported for Mexico (22,400 MT), unknown destinations (22,000 MT), and Canada (2,200 MT).

Weekly Export Details

Exports of 1,504,300 MT were down 21 percent from the previous week and 3 percent from the prior 4-week average.  The destinations were primarily to Mexico (349,000 MT), Japan (320,600 MT), China (260,200 MT), South Korea (131,300 MT), and Colombia (125,600 MT).

Comments and Performance Indicators

Export commitments are 14% 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.

Wheat

Actual Sales (in MT)

2021-22: 14,100
2022-23: 124,300

Expectations (in MT)

2021-22: 25,000-125,000
2022-23: 0-350,000

Weekly Sales Details

Net sales of 14,100 metric tons (MT) for 2021/2022--a marketing-year low--were down 88 percent from the previous week and 79 percent from the prior 4-week average.  Increases primarily for Colombia (40,000 MT), unknown destinations (11,500 MT), South Korea (3,000 MT, including decreases of 22,500 MT), the Dominican Republic (1,600 MT), and Mexico (1,200 MT, including decreases of 3,100 MT), were offset by reductions primarily for Nigeria (36,300 MT), Chile (5,800 MT), and Japan (1,500 MT).  Net sales of 124,300 MT for 2022/2023 were reported for Mexico (63,000 MT), unknown destinations (26,800 MT), South Korea (24,500 MT), Chile (7,000 MT), and Guatemala (3,000 MT).

Weekly Export Details

Exports of 240,300 MT were down 36 percent from the previous week and 35 percent from the prior 4-week average.  The destinations were primarily to Indonesia (55,100 MT), Japan (51,600 MT), Mexico (47,700 MT), Nigeria (27,500 MT), and the Dominican Republic (17,800 MT).

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 785 million bu., down 20.9% from the previous marketing year.

Soybeans

Actual Sales (in MT)

2021-22: 143,700
2022-23: 77,300

Expectations (in MT)

2021-22: 100,000-600,000
2022-23: 100,000-600,000

Weekly Sales Details

Net sales of 143,700 MT for 2021/2022--a marketing-year low--were down 80 percent from the previous week and 74 percent from the prior 4-week average.  Increases primarily for Indonesia (66,200 MT, including 55,000 MT switched from unknown destinations and decreases of 7,600 MT), Japan (61,200 MT, including 59,200 MT switched from unknown destinations and decreases of 1,400 MT), Mexico (20,600 MT, including decreases of 2,700 MT), Venezuela (8,000 MT), and Malaysia (5,300 MT, including decreases of 100 MT), were offset by reductions for unknown destinations (30,200 MT) and Peru (5,000 MT).  Net sales of 77,300 MT for 2022/2023 were reported for unknown destinations (66,000 MT), Panama (6,300 MT), and Taiwan (5,000 MT).

Weekly Export Details

Exports of 471,700 MT were down 16 percent from the previous week and 37 percent from the prior 4-week average.  The destinations were primarily to China (147,500 MT), Mexico (89,500 MT), Indonesia (72,400 MT), Taiwan (66,900 MT), and Japan (64,500 MT).

Comments and Performance Indicators

Export commitments are running 5% behind year-ago, the same as last week. USDA projects exports in 2021-22 at 2.115 billion bu., down 6.5% from the previous marketing year.

Soymeal

Actual Sales (in MT)

2021-22: 181,900
2022-23: 16,100

Expectations

2021-22: 20,000-300,000
2022-23: 0-150,000

Weekly Sales Details

Net sales of 181,900 MT for 2021/2022 were down 22 percent from the previous week, but up 10 percent from the prior 4-week average.  Increases primarily for Mexico (55,200 MT, including decreases of 1,500 MT), Ecuador (32,300 MT, including decreases of 2,200 MT), Honduras (19,100 MT, including decreases 6,200 MT), the Dominican Republic (18,600 MT), and Guatemala (15,800 MT), were offset by reductions primarily for unknown destinations (3,000 MT), Costa Rica (1,200 MT), and Laos (1,000 MT).  Net sales of 16,100 MT for 2022/2023 reported for Panama (16,500 MT), were offset by reductions for Canada (400 MT).

Weekly Export Details

Exports of 238,300 MT were up 2 percent from the previous week and 4 percent from the prior 4-week average.  The destinations were primarily to the Philippines (48,300 MT), Ecuador (35,300 MT), Mexico (35,200 MT), Honduras (23,100 MT), and the Dominican Republic (22,500 MT). 

Comments and Performance Indicators

Export commitments are 4% ahead of a year-ago versus 3% ahead last week. USDA projects exports in 2021-22 will climb 3.1% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2021-22: 600
2022-23: 0

Expectations

2021-22: 0-25,000
2022-23: 0-15,000

Weekly Sales Details

Net sales of 600 MT for 2021/2022 were down 96 percent from the previous week and 90 percent from the prior 4-week average.  Increases were primarily for Canada (500 MT).

Weekly Export Details

Exports of 26,500 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were to South Korea (23,400 MT), Hong Kong (1,900 MT), Mexico (700 MT), and Canada (500 MT).

Comments and Performance Indicators

Export commitments are running 1% behind a year-ago, the same as last week. USDA projects exports will increase 0.1% this season.

Cotton

Actual Upland Sales (in RB)

2021-22: 27,500
2022-23: 90,600

Weekly Sales Details

Net sales of 27,500 RB for 2021/2022--a marketing-year low--were down 88 percent from the previous week and 76 percent from the prior 4-week average.  Increases primarily for India (19,800 RB), Peru (3,100 RB), Pakistan (2,600 RB), Guatemala (2,400 RB), and Vietnam (1,400 RB switched from China), were offset by reductions for China (3,300 RB), Turkey (1,900 RB), Ecuador (700 RB), and Thailand (300 RB).  Net sales of 90,600 RB for 2022/2023 primarily for El Salvador (28,400 RB), Guatemala (25,300 RB), Pakistan (11,000 RB), Peru (10,700 RB), and Mexico (7,800 RB), were offset by reductions for Costa Rica (900 RB). da

Weekly Export Details

Exports of 364,500 RB were down 15 percent from the previous week and 4 percent from the prior 4-week average.  The destinations were primarily to China (107,700 RB), Turkey (60,700 RB), Pakistan (50,500 RB), Vietnam (46,700 RB), and Mexico (26,300 RB).

Comments and Performance Indicators

Export commitments are 3% behind year-ago, the same as last week. USDA forecasts total cotton exports will fall 9.9% from a year ago to 14.75 million bales in 2021-22.

Beef

Actual Sales (in MT)

2022: 28,400

Weekly Sales Details

Net sales of 28,400 MT for 2022--a marketing-year high--were up 95 percent from the previous week and from the prior 4-week average.  Increases were primarily for South Korea (12,000 MT, including decreases of 700 MT), Japan (7,200 MT, including decreases of 500 MT), Mexico (3,600 MT), Canada (1,100 MT), and Indonesia (900 MT).

Weekly Export Details

Exports of 19,700 MT were down 3 percent from the previous week, but up 2 percent from the prior 4-week average.  The destinations were primarily to South Korea (6,000 MT), Japan (5,800 MT), China (2,500 MT), Taiwan (1,300 MT), and Mexico (1,200 MT).

Comments and Performance Indicators

USDA projects 2022 exports will decline 4.3% from a year ago.

Pork

Actual Sales (in MT)

2022: 26,300
 

Weekly Sales Details

Net sales of 26,300 MT for 2022 were up 10 percent from the previous week and 14 percent from the prior 4-week average.  Increases were primarily for Mexico (9,600 MT, including decreases of 700 MT), China (4,700 MT, including decreases of 300 MT), South Korea (3,800 MT, including decreases of 700 MT), Japan (3,000 MT, including decreases of 200 MT), and Colombia (2,600 MT). 

Weekly Export Details

Exports of 33,100 MT--a marketing-year high--were up 3 percent from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to Mexico (14,600 MT), China (4,300 MT), South Korea (4,000 MT), Japan (3,900 MT), and Colombia (1,500 MT). 

Comments and Performance Indicators

USDA projects exports in 2022 will drop 6.2% from last year.

 

 

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