Weekly corn sales fade; soybeans perk up
|
USDA Weekly Export Sales Report Week Ended April 6, 2023 |
|
|
Corn |
|
|
Actual Sales (in MT) |
2022-23: 527,700 |
|
Expectations (in MT) |
2022-23: 500,000-1,300,000 |
|
Weekly Sales Details |
Net sales of 527,700 MT for 2022/2023 were down 58 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Mexico (291,000 MT, including decreases of 500 MT), Japan (166,800 MT, including 111,300 MT switched from unknown destinations), China (140,800 MT, including 136,000 MT switched from unknown destinations and decreases of 1,100 MT), Colombia (45,100 MT, including 34,000 MT switched from Panama, 5,000 MT switched from Honduras, and decreases of 113,100 MT), and unknown destinations (24,300 MT), were offset by reductions for South Korea (130,000 MT), Panama (34,000 MT), El Salvador (13,500 MT), Qatar (8,100 MT), and the Dominican Republic (3,800 MT). |
|
Weekly Export Details |
Exports of 917,000 MT were down 19 percent from the previous week and 15 percent from the prior 4-week average. The destinations were primarily to Mexico (279,700 MT), China (208,800 MT), Japan (161,800 MT), Colombia (159,200 MT), and the Dominican Republic (57,200 MT). |
|
Comments and Performance Indicators |
Export commitments are 32.3% behind a year-ago compared to 31.6% behind last week. USDA projects exports in 2022-23 at 1.850 billion bu., 25.1% below the previous marketing year. |
|
Wheat |
|
|
Actual Sales (in MT) |
2022-23: 135,700 |
|
Expectations (in MT) |
2022-23: 75,000-350,000 |
|
Weekly Sales Details |
Net sales of 135,700 metric tons (MT) for 2022/2023 were down 30 percent from the previous week and 27 percent from the prior 4-week average. Increases primarily for the Philippines (43,000 MT), Mexico (32,000 MT, including decreases of 100 MT), Ecuador (30,300 MT, including decreases of 400 MT), Tunisia (28,500 MT, including 25,000 MT switched from unknown destinations), and Singapore (22,000 MT), were offset by reductions for Peru (40,000 MT), unknown destinations (17,000 MT), Venezuela (5,000 MT), and Nigeria (600 MT). Net sales of 67,800 MT for 2023/2024 were reported for Peru (40,000 MT) and Japan (27,800 MT). |
|
Weekly Export Details |
Exports of 280,200 MT were up 42 percent from the previous week and unchanged from the prior 4-week average. The destinations were primarily to Japan (66,600 MT), Thailand (57,900 MT), Vietnam (37,200 MT), Tunisia (28,500 MT), and Mexico (28,400 MT). |
|
Comments and Performance Indicators |
Export commitments are running 5.0% behind a year-ago, compared to 5.2% behind last week. USDA projects exports in 2022-23 at 775 million bu., down 3.1% from the previous marketing year. |
|
Soybeans |
|
|
Actual Sales (in MT) |
2022-23: 364,500 |
|
Expectations (in MT) |
2022-23: 250,000-600,000 |
|
Weekly Sales Details |
Net sales of 364,500 MT for 2022/2023 were up noticeably from the previous week and up 17 percent from the prior 4-week average. Increases primarily for the Netherlands (150,100 MT, including 145,000 MT switched from unknown destinations), unknown destinations (122,500 MT), Japan (32,300 MT, including 28,900 MT switched from unknown destinations), Spain (21,200 MT, including decreases of 300 MT and 21,500 MT - late), and Indonesia (19,100 MT), were offset by reductions for Mexico (1,700 MT). Total net sales of 66,000 MT for 2023/2024 were for China. |
|
Weekly Export Details |
Exports of 684,000 MT were up 22 percent from the previous week, but down 9 percent from the prior 4-week average. The destinations were primarily to China (365,600 MT), the Netherlands (150,100 MT), Mexico (75,700 MT), Japan (35,200 MT), and Spain (21,200 MT - late). |
|
Comments and Performance Indicators |
Export commitments are running 11.2% behind a year-ago, versus behind 11.0% last week. USDA projects exports in 2022-23 at 2.015 billion bu., down 6.6% from the previous marketing year. |
|
Soymeal |
|
|
Actual Sales (in MT) |
2022-23: 255,200 |
|
Expectations |
2022-23: 100,000-300,000 |
|
Weekly Sales Details |
Net sales of 255,200 MT for 2022/2023 were up 4 percent from the previous week and 6 percent from the prior 4-week average. Increases primarily for the Philippines (95,300 MT, including decreases of 100 MT), Vietnam (52,000 MT), Mexico (21,500 MT, including decreases of 100 MT), Costa Rica (17,400 MT, including decreases of 7,200 MT), and Nicaragua (13,200 MT, including decreases of 100 MT), were offset by reductions for Belgium (2,500 MT), Ecuador (2,000 MT), and Japan (500 MT). Total net sales of 37,500 MT for 2023/2024 were for Indonesia. |
|
Weekly Export Details |
Exports of 198,500 MT were down 45 percent from the previous week and 34 percent from the prior 4-week average. The destinations were primarily to the Philippines (52,300 MT), Colombia (45,700 MT, including 200 MT - late), Honduras (26,400 MT), Canada (22,200 MT), and Mexico (21,200 MT). |
|
Comments and Performance Indicators |
Export commitments are 1.4% behind a year-ago, compared to 2.3% behind a week ago. USDA projects exports in 2022-23 will increase 1.3% from the previous marketing year. |
|
Soyoil |
|
|
Actual Sales (in MT) |
2022-23: (400) |
|
Expectations |
2022-23: 0-25,000 |
|
Weekly Sales Details |
Total net sales reductions of 400 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. Decreases were for Canada. |
|
Weekly Export Details |
Exports of 1,700 MT were up 79 percent from the previous week and up noticeably from the prior 4-week average. The destinations were to Mexico (1,400 MT) and Canada (300 MT). |
|
Comments and Performance Indicators |
Export commitments are running 84.0% behind a year-ago, compared to 83.8% behind last week. USDA projects exports will decrease 71.8% this season. |
|
Cotton |
|
|
Actual Upland Sales (in RB) |
2022-23: 143,200 |
|
Net sales of 143,200 RB for 2022/2023 were down 11 percent from the previous week and 41 percent from the prior 4-week average. Increases primarily for China (22,300 RB, including 1,500 RB switched from Indonesia and 100 RB switched from Singapore), Turkey (18,700 RB), India (17,700 RB), El Salvador (15,100 RB), and Bangladesh (13,700 RB), were offset by reductions for Singapore (200 RB). Net sales of 11,100 RB for 2023/2024 were reported for Turkey (8,800 RB) and Pakistan (2,300 RB). Exports of 334,600 RB were up 34 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to Vietnam (77,600 RB), China (68,100 RB), Pakistan (51,000 RB), Turkey (47,600 RB), and Indonesia (20,600 RB). Net sales of Pima totaling 32,300 RB for 2022/2023--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. Increases were primarily for China (20,400 RB), India (6,000 RB, including decreases of 300 RB), Pakistan (3,900 RB), Vietnam (1,000 RB), and Turkey (400 RB). |
|
|
Weekly Export Details |
Exports of 8,900 RB--a marketing-year high--were up noticeably from the previous week and from the prior 4- week average. The destinations were primarily to China (6,200 RB), Pakistan (1,200 RB), India (500 RB), Thailand (400 RB), and Indonesia (300 RB). |
|
Comments and Performance Indicators |
Export commitments are running 17.8% behind a year-ago, versus 18.5% behind last week. USDA forecasts total cotton exports will fall 16.6% from a year ago to 12.20 million bales in 2022-23. |
|
Beef |
|
|
Actual Sales (in MT) |
2023: 8,700 |
|
Weekly Sales Details |
Net sales of 8,700 MT for 2023 were down 36 percent from the previous week and 43 percent from the prior 4-week average. Increases primarily for South Korea (3,400 MT, including decreases of 400 MT), Japan (2,900 MT, including decreases of 400 MT), Mexico (1,200 MT, including decreases of 200 MT), Taiwan (500 MT, including decreases of 200 MT), and Chile (400 MT), were offset by reductions for Indonesia (700 MT), China (400 MT), and Brazil (100 MT). |
|
Weekly Export Details |
Exports of 15,900 MT were down 8 percent from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to South Korea (4,900 MT), Japan (3,700 MT), China (2,600 MT), Mexico (1,200 MT), and Taiwan (1,200 MT). |
|
Comments and Performance Indicators |
USDA projects 2022 exports will fall 11.3% from a year ago. |
|
Pork |
|
|
Actual Sales (in MT) |
2023: 27,100 |
|
Weekly Sales Details |
Net sales of 27,100 MT for 2023 were down 49 percent from the previous week and 31 percent from the prior 4-week average. Increases were primarily for Japan (5,400 MT, including decreases of 100 MT), Mexico (5,300 MT, including decreases of 200 MT), China (3,900 MT, including decreases of 200 MT), South Korea (3,800 MT, including decreases of 500 MT), and Canada (2,100 MT, including decreases of 400 MT). |
|
Weekly Export Details |
Exports of 37,000 MT--a marketing-year high--were up 17 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to Mexico (13,500 MT), |
|
Comments and Performance Indicators |
USDA projects exports in 2023 will rise 0.6% from last year. |
