Weekly corn sales reach marketing year high at 1.9 MMT
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USDA Weekly Export Sales Report Week Ended Nov. 23, 2023 |
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Corn |
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Actual Sales (in MT) |
2023-24: 1,927,800 |
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Expectations (in MT) |
2023-24: 600,000-1,200,000 |
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Weekly Sales Details |
Net sales of 1,927,800 MT for 2023/2024--a marketing-year high-- were up 35 percent from the previous week and 54 percent from the prior 4-week average. Increases were primarily for unknown destinations (726,600 MT), Mexico (294,600 MT, including decreases of 700 MT), Japan (258,000 MT, including decreases of 16,000 MT), Taiwan (201,500 MT), and China (131,000 MT). |
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Weekly Export Details |
Exports of 499,900 MT were down 20 percent from the previous week and 24 percent from the prior 4-week average. The destinations were primarily to Mexico (385,300 MT), Colombia (60,000 MT), Panama (25,600 MT), Taiwan (9,900 MT), and Jamaica (7,200 MT). |
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Comments and Performance Indicators |
Export commitments are 33.3% ahead of a year-ago, compared to 26.9% ahead last week. USDA projects exports in 2023-24 at 2.075 billion bu., 24.9% above the previous marketing year. |
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Wheat |
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Actual Sales (in MT) |
2023-24: 622,800 |
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Expectations (in MT) |
2023-24: 200,000-500,000 |
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Weekly Sales Details |
Net sales of 622,800 metric tons (MT) for 2023/2024 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for China (197,300 MT, including 24,700 MT switched from unknown destinations and decreases of 400 MT), unknown destinations (148,800 MT), Mexico (65,800 MT, including decreases of 13,500 MT), the Philippines (60,100 MT), and Japan (43,400 MT), were offset by reductions for Peru (12,000 MT), El Salvador (9,000 MT), Brazil (500 MT), and South Korea (100 MT). Total net sales of 12,000 MT for 2024/2025 were for Peru. |
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Weekly Export Details |
Exports of 340,400 MT were up 14 percent from the previous week and 61 percent from the prior 4-week average. The destinations were primarily to the Philippines (130,500 MT), Mexico (49,900 MT), Taiwan (34,800 MT), Japan (27,400 MT), and China (24,300 MT). |
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Comments and Performance Indicators |
Export commitments are running 5.7% behind a year-ago, compared to 9.3% behind last week. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year. |
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Soybeans |
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Actual Sales (in MT) |
2023-24: 1,895,300 |
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Expectations (in MT) |
2023-24: 850,000-1,500,000 |
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Weekly Sales Details |
Net sales of 1,895,300 MT for 2023/2024 were up 97 percent from the previous week and 10 percent from the prior 4-week average. Increases primarily for China (892,300 MT, including 313,000 MT switched from unknown destinations and decreases of 74,500 MT), unknown destinations (294,900 MT), Spain (123,400 MT, including 55,000 MT switched from unknown destinations), Italy (100,000 MT), and Mexico (93,200 MT, including decreases of 900 MT), were offset by reductions for Singapore (2,500 MT). |
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Weekly Export Details |
Exports of 1,447,700 MT were down 11 percent from the previous week and 24 percent from the prior 4-week average. The destinations were primarily to China (994,500 MT), Mexico 106,700 MT), Vietnam (82,000 MT), the Netherlands (65,200 MT), and South Korea (61,000 MT). |
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Comments and Performance Indicators |
Export commitments are running 16.5% behind a year-ago, compared to 20.3% behind last week. USDA projects exports in 2023-24 at 1.755 billion bu., down 11.9% from the previous marketing year. |
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Soymeal |
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Actual Sales (in MT) |
2023-24: 64,600 |
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Expectations |
2023-24: 150,000-350,000 |
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Weekly Sales Details |
Net sales of 64,600 MT for 2023/2024 were down 68 percent from the previous week and 59 percent from the prior 4-week average. Increases primarily for Colombia (30,000 MT, including decreases of 24,400 MT), Mexico (17,600 MT, including decreases of 100 MT), Guatemala (11,400 MT, including 10,700 MT switched from El Salvador and decreases of 100 MT), Canada (6,900 MT, including decreases of 2,200 MT), and Japan (6,100 MT), were offset by reductions for El Salvador (11,100 MT), Honduras (6,300 MT), and Panama (1,100 MT). |
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Weekly Export Details |
Exports of 269,800 MT were down 6 percent from the previous week, but up 9 percent from the prior 4-week average. The destinations were primarily to Mexico (44,800 MT), Guatemala (35,300 MT), Ecuador (32,900 MT), Ireland (30,200 MT), and Japan (28,100 MT). |
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Comments and Performance Indicators |
Export commitments are 21.6% ahead of a year-ago, compared to 24.9% ahead last week. USDA projects exports in 2022-23 will increase 4.3% from the previous marketing year in 2023-24. |
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Soyoil |
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Actual Sales (in MT) |
2023-24: 700 |
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Expectations |
2023-24: (5,000)-10,000 |
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Weekly Sales Details |
Net sales of 700 MT for 2023/2024 were up noticeably from the previous week, but down 64 percent from the prior 4-week average. Increases were reported for Canada. |
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Weekly Export Details |
Exports of 400 MT were down 38 percent from the previous week and 41 percent from the prior 4-week average. The destination was to Canada. |
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Comments and Performance Indicators |
Export commitments are running 2.4% behind a year-ago, compared to 10.8% behind last week. USDA projects exports will decrease 7.4% in 2023-24. |
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Cotton |
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Actual Upland Sales (in RB) |
2023-24: 217,700 |
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Net sales of 217,700 RB for 2023/2024 were down 32 percent from the previous week and 42 percent from the prior 4-week average. Increases primarily for Vietnam (100,000 RB, including 3,500 RB switched from Macau, 700 RB switched from Japan, and decreases of 100 RB), China (64,600 RB, including 1,800 RB switched from Macau), Guatemala (36,900 RB), Mexico (18,500 RB), and Honduras (11,400 RB), were offset by reductions for Turkey (23,800 RB), Macau (5,300 RB), and Portugal (4,400 RB). Total net sales of 15,400 RB for 2024/2025 were for Turkey. |
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Weekly Export Details |
Exports of 88,800 RB were up 14 percent from the previous week, but down 14 percent from the prior 4-week average. The destinations were primarily to China (37,600 RB), Mexico (13,600 RB), Vietnam (12,100 RB), Bangladesh (10,900 RB), and Indonesia (2,800 RB). Net sales of Pima totaling 1,600 RB for 2023/2024 were down 27 percent from the previous week and 89 percent from the prior 4-week average. Increases were primarily for India (1,000 RB). Exports of 8,900 RB were up noticeably from the previous week and from the prior 4-week average. The destinations were to China (6,100 RB), India (900 RB), Pakistan (700 RB), Thailand (500 RB), and Ethiopia (500 RB). |
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Comments and Performance Indicators |
Export commitments are running 10.3% behind a year-ago, compared to 12.7% behind last week. USDA forecasts total cotton exports will fall 4.5% from a year ago to 14.35 million bales in 2023-24. |
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Beef |
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Actual Sales (in MT) |
2023: 6,300 |
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Weekly Sales Details |
Net sales of 6,300 MT for 2023 were down 37 percent from the previous week and 49 percent from the prior 4-week average. Increases primarily for South Korea (3,600 MT, including decreases of 600 MT), Japan (2,400 MT, including decreases of 600 MT), Canada (900 MT, including decreases of 100 MT), China (600 MT, including decreases of 200 MT), and Mexico (600 MT), were offset by reductions for Hong Kong (2,500 MT). Net sales of 4,300 MT for 2024 were primarily for South Korea (2,000 MT), China (1,000 MT), Hong Kong (400 MT), Japan (300 MT), and Taiwan (300 MT). |
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Weekly Export Details |
Exports of 12,800 MT were down 15 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to South Korea (4,000 MT), Japan (3,300 MT), China (1,500 MT), Mexico (1,200 MT), and Canada (800 MT). |
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Comments and Performance Indicators |
USDA projects 2023 exports will fall 14.4% from a year ago. |
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Pork |
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Actual Sales (in MT) |
2023: 21,200 |
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Weekly Sales Details |
Net sales of 21,200 MT for 2023 were down 20 percent from the previous week and 35 percent from the prior 4-week average. Increases primarily for Mexico (7,500 MT, including decreases of 1,100 MT), South Korea (3,400 MT, including decreases of 300 MT), Japan (3,000 MT, including decreases of 300 MT), Australia (1,600 MT), and Colombia (1,600 MT, including decreases of 300 MT), were offset by reductions for China (100 MT). Net sales of 5,600 MT for 2024 were primarily for Japan (2,800 MT), Canada (1,100 MT), Mexico (300 MT), the Dominican Republic (300 MT), and South Korea (300 MT). |
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Weekly Export Details |
Exports of 27,800 MT were down 14 percent from the previous week and 13 percent from the prior 4- week average. The destinations were primarily to Mexico (9,800 MT), South Korea (4,500 MT), Japan (4,200 MT), China (2,100 MT), and Canada (1,900 MT). |
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Comments and Performance Indicators |
USDA projects exports in 2023 will rise 6.1% from last year. |
