Another disappointing week for corn export sales
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USDA Weekly Export Sales Report Week Ended June 9, 2022 |
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Corn |
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Actual Sales (in MT) |
2021-22: 140,900 |
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Expectations (in MT) |
2021-22: 100,000-500,000 |
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Weekly Sales Details |
Net sales of 140,900 MT for 2021/2022--a marketing-year low--were down 50 percent from the previous week and 45 percent from the prior 4-week average. Increases primarily for Mexico (124,500 MT, including decreases of 36,600 MT), Japan (117,200 MT, including 112,300 MT switched from unknown destinations and decreases of 700 MT), South Korea (72,400 MT, including 68,000 MT switched from unknown destinations and decreases of 1,200 MT), the Lee Ward Windward Islands (10,100 MT, including 9,300 MT switched from unknown destinations and 700 MT switched from Barbados), and China (4,900 MT), were offset by reductions primarily for unknown destinations (189,400 MT). Net sales of 138,900 MT for 2022/2023 primarily for Mexico (77,000 MT), Japan (50,000 MT), unknown destinations (6,100 MT), and Colombia (4,000 MT), were offset by reductions for El Salvador (1,300 MT). |
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Weekly Export Details |
Exports of 1,387,100 MT were unchanged from the previous week, but down 10 percent from the prior 4-week average. The destinations were primarily to Mexico (459,700 MT), China (412,900 MT), Japan (230,500 MT), South Korea (137,800 MT), and Canada (63,600 MT). |
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Comments and Performance Indicators |
Export commitments are 14% behind year-ago, the same as last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2022-23: 236,900 |
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Expectations (in MT) |
2022-23: 200,000-600,000 |
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Weekly Sales Details |
Net sales of 236,900 metric tons (MT) for 2022/2023 primarily for Brazil (78,000 MT, including 50,000 MT switched from Switzerland), Mexico (58,800 MT, including decreases of 200 MT), Ecuador (49,600 MT, including 48,000 MT switched from unknown destinations), Chile (48,000 MT), and Nigeria (34,600 MT, including 33,600 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (56,300 MT), Switzerland (50,000 MT), and Guatemala (16,900 MT). |
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Weekly Export Details |
Exports of 370,100 MT were primarily to Mexico (80,400 MT), Japan (58,500 MT), Ecuador (49,600 MT), Nigeria (34,600 MT), and Chile (33,000 MT). |
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Comments and Performance Indicators |
Export commitments are running 17% behind year-ago, the same as last week. USDA projects exports in 2022-23 at 775 million bu., down 3.7% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2021-22: 317,200 |
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Expectations (in MT) |
2021-22: 100,000-500,000 |
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Weekly Sales Details |
Net sales of 317,200 MT for 2021/2022 were down 26 percent from the previous week and 16 percent from the prior 4-week average. Increases primarily for China (135,400 MT, including decreases of 1,600 MT), Japan (83,000 MT, including 50,000 MT switched from China, 37,500 MT switched from unknown destinations, and decreases of 9,000 MT), the Netherlands (68,500 MT, including 63,000 MT switched from unknown destinations), Mexico (58,900 MT, including 47,500 MT switched from unknown destinations and decreases of 6,000 MT), and Bangladesh (57,700 MT, including 55,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (191,500 MT). Net sales of 407,600 MT for 2022/2023 were primarily for unknown destinations (196,500 MT), China (132,000 MT), Japan (50,000 MT), Colombia (14,000 MT), and Mexico (9,900 MT). |
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Weekly Export Details |
Exports of 708,700 MT were up 49 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Mexico (184,800 MT), Egypt (109,500 MT), Japan (93,600 MT), China (74,600 MT), and the Netherlands (68,500 MT). |
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Comments and Performance Indicators |
Export commitments are running 2% behind year-ago versus 3% behind last week. USDA projects exports in 2021-22 at 2.170 billion bu., down 4.0% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2021-22: 256,300 |
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Expectations |
2021-22: 100,000-300,000 |
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Weekly Sales Details |
Net sales of 256,300 MT for 2021/2022 were up 91 percent from the previous week and 32 percent from the prior 4-week average. Increases primarily for Colombia (65,900 MT, including decreases of 200 MT), the Philippines (47,000 MT, including decreases of 600 MT), Honduras (31,500 MT, including decreases of 35,400 MT), Japan (29,300 MT), and Nicaragua (26,200 MT), were offset by reductions primarily for Ireland (9,000 MT) and unknown destinations (5,500 MT). Net sales of 35,600 MT for 2022/2023 primarily for the Philippines (44,000 MT), were offset by reductions for Costa Rica (8,700 MT). |
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Weekly Export Details |
Exports of 224,500 MT were down 2 percent from the previous week, but up 15 percent from the prior 4-week average. The destinations were primarily to Ecuador (61,800 MT), the Philippines (52,300 MT), Mexico (35,200 MT), Canada (28,800 MT), and Colombia (11,800 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: 6,200 |
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Expectations |
2021-22: 0-30,000 |
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Weekly Sales Details |
Net sales of 6,200 MT for 2021/2022 were up noticeably from the previous week and from the prior 4-week average. Increases reported for Venezuela (6,400 MT), were offset by reductions for Canada (200 MT). |
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Weekly Export Details |
Exports of 16,300 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were to Venezuela (10,900 MT), Jamaica (3,500 MT), Mexico (1,000 MT), and Canada (900 MT). |
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Comments and Performance Indicators |
Export commitments are running 1% ahead of year-ago, the same as last week. USDA projects exports will increase 4.5% this season. |
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Cotton |
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Actual Upland Sales (in RB) |
2021-22: 26,500 |
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Net sales of 26,500 RB for 2021/2022--a marketing-year low--were down 90 percent from the previous week and 86 percent from the prior 4-week average. Increases primarily for China (7,300 RB), Pakistan (4,900 RB, including decreases of 100 RB), Vietnam (4,600 RB, including 500 RB switched from South Korea), Bangladesh (3,800 RB), and Mexico (3,300 RB, including decreases of 3,300 RB), were offset by reductions for South Korea (300 RB). Net sales of 380,200 RB for 2022/2023 primarily for China (363,700 RB) and Vietnam (11,400 RB), were offset by reductions for Mexico (100 RB). |
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Weekly Export Details |
Exports of 335,800 RB were unchanged from the previous week, but down 9 percent from the prior 4-week average. The destinations were primarily to China (128,700 RB), Vietnam (48,300 RB), India (29,300 RB), Pakistan (26,800 RB), and Turkey (23,100 RB). |
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Comments and Performance Indicators |
Export commitments are 3% behind year-ago, compared with 2% 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: 17,400 |
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Weekly Sales Details |
Net sales of 17,400 MT for 2022 were down 2 percent from the previous week and 12 percent from the prior 4-week average. Increases were primarily for Japan (5,200 MT, including decreases of 600 MT), China (4,600 MT, including decreases of 100 MT), South Korea (3,500 MT, including decreases of 600 MT), Mexico (1,900 MT), and the Netherlands (400 MT). |
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Weekly Export Details |
Exports of 19,800 MT were up 14 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Japan (5,100 MT), South Korea (5,000 MT), China (4,000 MT), Taiwan (1,100 MT), and Canada (1,000 MT). |
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Comments and Performance Indicators |
USDA projects 2022 exports will decline 0.8% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2022: 27,600 |
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Weekly Sales Details |
Net sales of 27,600 MT for 2022 were up 65 percent from the previous week and 1 percent from the prior 4-week average. Increases were primarily for Mexico (14,700 MT, including decreases of 200 MT), China (3,800 MT, including decreases of 200 MT), Japan (3,700 MT, including decreases of 200 MT), Colombia (2,400 MT), and South Korea (1,700 MT, including decreases of 200 MT). |
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Weekly Export Details |
Exports of 27,800 MT were up 14 percent from the previous week, but down 7 percent from the prior 4-week average. The destinations were primarily to Mexico (12,800 MT), China (3,700 MT), Japan (3,500 MT), South Korea (2,700 MT), and Colombia (1,500 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will drop 5.8% from last year. |
