New crop soybean sales soar above top end expectations by nearly 250,000 MT
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USDA Weekly Export Sales Report Week Ended July 21, 2022 |
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Corn |
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Actual Sales (in MT) |
2021-22: 150,300 |
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Expectations (in MT) |
2021-22: 0-300,000 |
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Weekly Sales Details |
Net sales of 150,300 MT for 2021/2022 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for Mexico (70,000 MT, including decreases of 10,500 MT), Japan (41,700 MT, including 38,700 MT switched from unknown destinations), Colombia (15,500 MT, including 14,500 MT switched from unknown destinations and decreases of 1,100 MT), Guyana (10,400 MT switched from unknown destinations), and Guatemala (9,300 MT, including 3,100 MT switched from El Salvador), were offset by reductions for El Salvador (3,400 MT), Canada (2,100 MT), Taiwan (100 MT), and South Korea (100 MT). Net sales of 193,700 MT for 2022/2023 primarily for Mexico (107,300 MT), unknown destinations (59,600 MT), and Costa Rica (19,800 MT), were offset by reductions for Taiwan (300 MT) and Honduras (100 MT). |
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Weekly Export Details |
Exports of 867,900 MT were down 22 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to Mexico (396,000 MT), China (208,000 MT), Japan (72,300 MT), Guatemala (65,400 MT), and Colombia (47,500 MT). |
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Comments and Performance Indicators |
Export commitments are 13% behind year-ago, compared with 13.4% behind 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: 412,000 |
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Expectations (in MT) |
2022-23: 250,000-625,000 |
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Weekly Sales Details |
Net sales of 412,000 metric tons (MT) for 2022/2023 were down 19 percent from the previous week and 29 percent from the prior 4-week average. Increases primarily for the Philippines (98,100 MT, including 33,000 MT switched from unknown destinations), Mexico (67,800 MT, including decreases of 900 MT), Thailand (56,300 MT), unknown destinations (43,000 MT), and Honduras (36,000 MT), were offset by reductions for Canada (100 MT). |
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Weekly Export Details |
Exports of 345,800 MT were up noticeably from the previous week and up 47 percent from the prior 4-week average. The destinations were primarily to Mexico (103,100 MT), the Philippines (65,100 MT), Colombia (60,100 MT), Japan (34,300 MT), and Morocco (31,900 MT). |
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Comments and Performance Indicators |
Export commitments are running 1.3% behind year-ago, compared with 0.1% behind 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: (58,600) |
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Expectations (in MT) |
2021-22: (200,000)-300,000 |
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Weekly Sales Details |
Net sales reductions of 58,600 MT for 2021/2022 primarily for the Netherlands (57,000 MT, including 63,000 MT switched from unknown destinations and decreases of 6,000 MT), Egypt (55,000 MT, including 50,000 MT switched from unknown destinations), Mexico (14,500 MT, including decreases of 1,100 MT), Indonesia (13,900 MT, including decreases of 100 MT), and Japan (10,800 MT, including 10,000 MT switched from unknown destinations and decreases of 100 MT), were offset by reductions for unknown destinations (204,200 MT) and China (30,800 MT). Net sales of 748,800 MT for 2022/2023 were primarily for China (538,000 MT) and unknown destinations (199,000 MT). |
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Weekly Export Details |
Exports of 395,400 MT were down 21 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to Mexico (163,900 MT), the Netherlands (57,000 MT), Bangladesh (57,000 MT), Egypt (55,000 MT), and Japan (14,800 MT). |
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Comments and Performance Indicators |
Export commitments are running 3.8% behind year-ago versus 3.9% 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: 28,000 |
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Expectations |
2021-22: 50,000-300,000 |
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Weekly Sales Details |
Net sales of 28,000 MT for 2021/2022 were down 74 percent from the previous week and 61 percent from the prior 4-week average. Increases primarily for Mexico (10,800 MT), Jamaica (6,500 MT), Guyana (5,600 MT switched from unknown destinations), Canada (5,300 MT, including decreases of 200 MT), and Nicaragua (5,000 MT, including 3,000 MT switched from Guatemala and 1,100 MT switched from Honduras), were offset by reductions primarily for unknown destinations (5,600 MT), Belgium (4,300 MT), Colombia (2,400 MT), and Honduras (1,700 MT). Net sales of 20,600 MT for 2022/2023 were reported for Ecuador (10,000 MT), Costa Rica (4,800 MT), Honduras (3,100 MT), and Canada (2,700 MT). |
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Weekly Export Details |
Exports of 195,700 MT were up 31 percent from the previous week, but down 6 percent from the prior 4-week average. The destinations were primarily to Guatemala (37,600 MT), Ecuador (36,900 MT), Colombia (32,600 MT), Canada (24,200 MT), and the Dominican Republic (15,100 MT). |
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Comments and Performance Indicators |
Export commitments are 2.3% behind year-ago versus 1.8% behind 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: 4,600 |
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Expectations |
2021-22: 0-20,000 |
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Weekly Sales Details |
Total net sales of 4,600 MT for 2021/2022 were up noticeably from the previous week and from the prior 4-week average. The destination was Canada, including decreases of 300 MT. Total net sales of 600 MT for 2022/2023 were for Canada. |
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Weekly Export Details |
Exports of 11,500 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were to Guatemala (6,500 MT), Canada (3,300 MT), Mexico (900 MT), and Costa Rica (800 MT). |
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Comments and Performance Indicators |
Export commitments are running 1.8% ahead of year-ago, compared with 1% ahead 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: (4,000) |
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Net sales reductions of 4,000 RB for 2021/2022--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average. Increases reported for Vietnam (6,400 RB, including 2,200 RB switched from South Korea and decreases of 200 RB), Ecuador (700 RB, including decreases of 100 RB), Japan (400 RB, including decreases of 500 RB), Mexico (200 RB, including decreases of 200 RB), and Honduras (200 RB), were more than offset by reductions primarily for Turkey (6,000 RB), China (2,900 RB), South Korea (1,600 RB), Germany (500 RB), and Indonesia (300 RB). Net sales of 55,700 RB for 2022/2023 were primarily for Vietnam (26,000 RB), Turkey (8,800 RB), Malaysia (6,600 RB), Bangladesh (4,000 RB), and Pakistan (3,100 RB). Exports of 252,900 RB were down 24 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to China (70,000 RB), Vietnam (45,000 RB), India (27,200 RB), Bangladesh (23,200 RB), and Pakistan (21,400 RB). No net sales of Pima for 2021/2022 were reported for the week. Net sales of 4,900 RB for 2022/2023 were primarily for India (4,400 RB) and South Korea (500 RB). |
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Weekly Export Details |
Exports of 3,200 RB were down 41 percent from the previous week and 52 percent from the prior 4-week average. The destinations were primarily to China (1,400 RB), India (600 RB), Taiwan (400 RB), Turkey (400 RB) and Peru (100 RB). |
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Comments and Performance Indicators |
Export commitments are 7.9% behind year-ago, compared with 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: 25,300 |
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Weekly Sales Details |
Net sales of 25,300 MT for 2022 were up 6 percent from the previous week and 66 percent from the prior 4-week average. Increases were primarily for South Korea (7,900 MT, including decreases of 700 MT), Japan (7,000 MT, including decreases of 700 MT), China (3,100 MT, including decreases of 200 MT), Taiwan (2,500 MT, including decreases of 100 MT), and Mexico (1,100 MT). |
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Weekly Export Details |
Exports of 20,300 MT were up 3 percent from the previous week and 5 percent from the prior 4-week average. The destinations were primarily to South Korea (6,000 MT), Japan (5,600 MT), China (2,900 MT), Mexico (1,200 MT), and Taiwan (1,100 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: 21,600 |
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Weekly Sales Details |
Net sales of 21,600 MT for 2022 were up 5 percent from the previous week, but down 16 percent from the prior 4-week average. Increases were primarily for Mexico (13,100 MT, including decreases of 200 MT), Japan (3,500 MT, including decreases of 200 MT), Canada (1,300 MT, including decreases of 400 MT), South Korea (1,300 MT, including decreases of 300 MT), and China (800 MT, including decreases of 100 MT). |
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Weekly Export Details |
Exports of 27,000 MT were up 1 percent from the previous week, but down 2 percent from the prior 4-week average. The destinations were primarily to Mexico (12,000 MT), China (4,100 MT), Japan (3,600 MT), South Korea (1,800 MT), and Canada (1,600 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2022 will drop 5.8% from last year. |
