Old-crop soybean exports sales top expectations
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USDA Weekly Export Sales Report Week Ended May 12, 2022 |
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Corn |
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Actual Sales (in MT) |
2021-22: 435,300 |
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Expectations (in MT) |
2021-22: 150,000-450,000 |
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Weekly Sales Details |
Net sales of 435,300 MT for 2021/2022 were up noticeably from the previous week, but down 36 percent from the prior 4-week average. Increases primarily for Taiwan (64,900 MT, including decreases of 100 MT), South Korea (59,500 MT, including decreases of 8,400 MT), China (59,300 MT, including decreases of 8,700 MT), Guatemala (49,500 MT), and Canada (40,000 MT, including decreases of 10,900 MT), were offset by reductions for unknown destinations (24,700 MT), Colombia (7,300 MT), Japan (6,500 MT), and Panama (1,000 MT). Net sales of 588,500 MT for 2022/2023 resulting in increases for China (544,000 MT), Mexico (52,500 MT), Japan (50,000 MT), and Costa Rica (13,700 MT), were offset by reductions primarily for Guatemala (46,700 MT) and El Salvador (21,100 MT). |
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Weekly Export Details |
Exports of 1,380,100 MT were down 8 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to Mexico (366,100 MT), South Korea (259,800 MT), Colombia (205,400 MT), China (195,300 MT), and Japan (97,500 MT). |
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Comments and Performance Indicators |
Export commitments are 13% behind year-ago versus 14% behind 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: 8,500 |
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Expectations (in MT) |
2021-22: (50,000)-150,000 |
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Weekly Sales Details |
Net sales of 8,500 metric tons (MT) for 2021/2022--a marketing-year low--were down 40 percent from the previous week and 82 percent from the prior 4-week average. Increases primarily for Mexico (37,000 MT, including decreases of 400 MT), Venezuela (29,400 MT, including 30,400 MT switched from unknown destination and decreases of 1,000 MT), Nigeria (28,200 MT), Taiwan (2,500 MT), and Vietnam (2,000 MT), were offset by reductions primarily for Colombia (39,900 MT), unknown destinations (27,300 MT), and South Korea (25,500 MT). Net sales of 325,600 MT for 2022/2023 were primarily reported for Japan (87,600 MT), Vietnam (53,400 MT), Colombia (45,000 MT), unknown destinations (35,500 MT), and Mexico (33,500 MT). |
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Weekly Export Details |
Exports of 345,400 MT were up 44 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Nigeria (75,200 MT), Mexico (60,900 MT), Thailand (52,900 MT), Taiwan (52,500 MT), and Venezuela (29,400 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 805 million bu., down 18.9% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2021-22: 752,700 |
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Expectations (in MT) |
2021-22: 150,000-500,000 |
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Weekly Sales Details |
Net sales of 752,700 MT for 2021/2022 were up noticeably from the previous week and 65 percent from the prior 4-week average. Increases primarily for China (392,600 MT, including 57,000 MT switched from unknown destinations and 72,600 MT - late), the Netherlands (84,600 MT, including 78,000 MT switched from unknown destinations), Egypt (58,300 MT, including 55,000 MT switched from unknown destinations and decreases of 5,800 MT), Taiwan (55,500 MT, including decreases of 13,700 MT), and Bangladesh (55,000 MT), were offset by reductions for unknown destinations (110,800 MT). Net sales of 149,500 MT for 2022/2023 were reported for unknown destinations (113,500 MT), Taiwan (16,000 MT), Mexico (12,000 MT), and China (8,000 MT). |
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Weekly Export Details |
Exports of 957,200 MT were up noticeably from the previous week and 45 percent from the prior 4-week average. The destinations were primarily to Egypt (271,300 MT), China (230,800 MT, including 72,600 MT - late), Mexico (141,500 MT), Indonesia (88,200 MT), and the Netherlands (84,600 MT). |
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Comments and Performance Indicators |
Export commitments are running 4% behind year-ago versus 5% behind last week. USDA projects exports in 2021-22 at 2.140 billion bu., down 5.4% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 293,100 |
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Expectations |
2021-22: 100,000-350,000 |
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Weekly Sales Details |
Net sales of 293,100 MT for 2021/2022 were up 61 percent from the previous week and 75 percent from the prior 4-week average. Increases primarily for Mexico (97,300 MT), the Philippines (48,200 MT), Ecuador (35,000 MT), Colombia (32,800 MT, including decreases of 1,900 MT), and unknown destinations (30,600 MT), were offset by reductions primarily for Peru (15,000 MT). |
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Weekly Export Details |
Exports of 192,100 MT were down 19 percent from the previous week and 25 percent from the prior 4-week average. The destinations were primarily to Colombia (56,800 MT), the Philippines (47,200 MT), Mexico (26,200 MT), the United Kingdom (19,800 MT), and Canada (19,100 MT). |
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Comments and Performance Indicators |
Export commitments are 5% ahead of a year-ago versus 4% ahead last week. USDA projects exports in 2021-22 will increase 1.7% from the previous marketing year. |
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Soyoil |
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Actual Sales (in MT) |
2021-22: 500 |
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Expectations |
2021-22: 0-20,000 |
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Weekly Sales Details |
Net sales reductions of 500 MT for 2021/2022 were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Mexico (100 MT) and Canada (100 MT), were more than offset by reductions for South Korea (700 MT). |
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Weekly Export Details |
Exports of 3,000 MT were down 89 percent from the previous week and 78 percent from the prior 4-week average. The destinations were primarily to Mexico (2,300 MT) and Canada (500 MT). |
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Comments and Performance Indicators |
Export commitments are running in line with year-ago, compared with 1% behind last week. USDA projects exports will increase 0.1% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2021-22: 110,900 |
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Net sales of 110,900 RB for 2021/2022 were up noticeably from the previous week and up 3 percent from the prior 4-week average. Increases primarily for India (34,100 RB), Vietnam (31,100 RB, including 1,800 RB switched from China, 700 RB switched from South Korea, 500 RB switched from Japan, and decreases of 1,900 RB), Turkey (18,400 RB, including decreases of 6,600 RB), China (11,700 RB, including decreases of 2,400 RB), and Bangladesh (10,600 RB), were offset by reductions for Thailand (4,100 RB), Pakistan (1,200 RB), and South Korea (300 RB). Net sales of 25,400 RB for 2022/2023 were reported for India (13,200 RB), Peru (4,600 RB), Guatemala (4,000 RB), Mexico (2,700 RB), and Costa Rica (900 RB). |
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Weekly Export Details |
Exports of 343,200 RB were down 6 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to China (101,600 RB), Vietnam (56,000 RB), Turkey (41,200 RB), Pakistan (38,600 RB), and Bangladesh (19,200 RB). |
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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. |
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Beef |
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Actual Sales (in MT) |
2022: 23,300 |
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Weekly Sales Details |
Net sales of 23,300 MT for 2022 were down 18 percent from the previous week, but up 35 percent from the prior 4-week average. Increases were primarily for Japan (7,900 MT, including decreases of 400 MT), South Korea (7,400 MT, including decreases of 900 MT), China (2,900 MT, including decreases of 200 MT), Taiwan (1,400 MT, including decreases of 200 MT), and Canada (900 MT, including decreases of 100 MT). |
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Weekly Export Details |
Exports of 19,800 MT were unchanged from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to South Korea (6,100 MT), Japan (5,300 MT), China (3,100 MT), Mexico (1,400 MT), and Taiwan (1,000 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will decline 2.6% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2022: 24,100 |
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Weekly Sales Details |
Net sales of 24,100 MT for 2022 were down 8 percent from the previous week, but up 2 percent from the prior 4-week average. Increases were primarily for Mexico (8,400 MT, including decreases of 200 MT), South Korea (4,300 MT, including decreases of 300 MT), Colombia (2,400 MT), China (2,100 MT, including decreases of 200 MT), and Japan (1,900 MT, including decreases of 100 MT). |
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Weekly Export Details |
Exports of 31,300 MT were down 6 percent from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to Mexico (13,900 MT), China (4,200 MT), South Korea (3,600 MT), Japan (3,000 MT), and Canada (1,500 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will drop 6.4% from last year. |
