Pork Export Sales Soar to a New for High 2021

Posted on Thu, 04/01/2021 - 07:43

Exports of pork were also solid, and China was both he lead buyer and destination for U.S. pork. Beef export sales of 18,700 MT were little changed from week-ago, with Asian nations leading the list of buyers.

Corn, soybean and wheat export sales came in near the lower end of expectations. Soybean exports hit a new marketing-year low, while corn exports held strong at nearly 2.0 MMT. Cotton exports sales were paltry and exports were lighter than hoped.

 

USDA Weekly Export Sales Report

Week Ended March 25, 2021

Corn

Actual Sales (in MT)

Combined: 857,300
2020-21: 797,300
2021-22: 60,000

Expectations (in MT)

2020-21: 600,000-1,200,000
2021-22: 0-300,000

Weekly Sales Details

Net sales of 797,300 MT for 2020-21 were down 82% from the previous week and 46% from the prior four-week average.  Increases primarily for Japan (273,100 MT, including 143,700 MT switched from unknown destinations and decreases of 600 MT), Colombia (245,000 MT, including 41,000 MT switched from unknown destinations and decreases of 106,800 MT), Saudi Arabia (139,200 MT, including 74,200 MT switched from unknown destinations), South Korea (123,500 MT, including decreases of 6,500 MT), and Mexico (83,800 MT, including decreases of 24,400 MT), were offset by reductions primarily for unknown destinations (228,800 MT).  For 2021-22, total net sales of 60,000 MT were for Mexico. 

Weekly Export Details

Exports of 1,977,500 MT were unchanged from the previous week, but up 2% from the prior four-week average.  The destinations were primarily to Japan (434,200 MT), Mexico (298,100 MT), China (275,000 MT), Colombia (263,900 MT), and Taiwan (165,900 MT). 

Comments and Performance Indicators

Export commitments are 106% ahead of year-ago, which compares to 111% ahead last week. USDA projects exports in 2020-21 at 2.600 billion bu., up 46.2% from the previous marketing year.

Wheat

Actual Sales (in MT)

Combined: 331,100
2020-21: 250,100
2021-22: 81,000

Expectations (in MT)

2020-21: 125,000-450,000
2021-22: 75,000-200,000

Weekly Sales Details

Net sales of 250,100 metric tons (MT) for 2020-21 were down 27% from the previous week and 22% from the prior four-week average.  Increases primarily for China (130,000 MT, switched from unknown destinations), the Philippines (123,300 MT, including 60,000 MT switched from Indonesia and decreases of 700 MT), South Korea (104,000 MT), Bangladesh (55,000 MT, switched from Indonesia), and Algeria (30,000 MT), were offset by reductions primarily for unknown destinations (120,000 MT) and Indonesia (114,900 MT).  For 2021-22, net sales of 81,000 MT were reported for the Philippines (52,000 MT), South Korea (21,000 MT), and Mexico (8,000 MT).

Weekly Export Details

Exports of 268,700 MT were down 59% from the previous week and 51% from the prior four-week average.  The destinations were primarily to Nigeria (80,100 MT), the Philippines (58,300 MT), Japan (30,600 MT), the Dominican Republic (27,100 MT), and Vietnam (26,000 MT).  

Comments and Performance Indicators

Export commitments are 2% ahead of year-ago compared with 1% ahead of year-ago the week prior. USDA projects exports in 2020-21 at 985 million bu., up 2.1% from the previous marketing year.

Soybeans

Actual Sales (in MT)

Combined: 136,800
2020-21: 105,800
2021-22: 131,000

Expectations (in MT)

2020-21: 100,000-450,000
2021-22: 0-200,000

Weekly Sales Details

Net sales of 105,800 MT for 2020-21 were up 4% from the previous week, but down 54% from the prior four-week average.  Increases primarily for China (124,000 MT, including 66,000 MT switched from unknown destinations), Egypt (49,300 MT, switched from unknown destinations), Japan (44,100 MT, including 52,500 MT switched from unknown destinations and decreases of 11,900 MT), Belgium (27,700 MT, including 30,000 MT switched from unknown destinations and decreases of 2,300 MT), and Colombia (19,700 MT, including 8,000 MT switched from unknown destinations and decreases of 2,100 MT), were offset by reductions primarily for unknown destinations (216,500 MT).  For 2021-22, net sales of 131,000 MT were reported for Pakistan (55,000 MT), unknown destinations (42,000 MT), and Mexico (34,000 MT).

Weekly Export Details

Exports of 460,900 MT--a marketing-year low--were down 8% from the previous week and 35% from the prior four-week average.  The destinations were primarily to Japan (90,600 MT), Mexico (89,700 MT), China (79,000 MT), Egypt (49,300 MT), and Belgium (27,700 MT).

Comments and Performance Indicators

Export commitments are 66% ahead of year-ago early in the marketing year, which compares to 70% ahead the week prior. USDA projects exports in 2020-21 at 2.250 billion bu., up 33.8% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 140,000
2020-21: 139,700
2021-22: 300

Expectations

2020-21: 100,000-250,000
2021-22: 0-50,000

Weekly Sales Details

Net sales of 139,700 MT for 2020-21 were down 17% from the previous week and 34% from the prior four-week average.  Increases primarily for Colombia (66,200 MT, including decreases of 2,500 MT), Canada (19,900 MT, including decreases of 100 MT), Guatemala (10,000 MT, including 6,000 MT switched from Nicaragua, 4,700 MT switched from El Salvador, and decreases of 1,300 MT), Jamaica (9,000 MT), and Mexico (9,000 MT, including decreases of 100 MT), were offset by reductions primarily for Nicaragua (5,300 MT) and El Salvador (2,900 MT).  For 2021-22, total net sales reductions of 300 MT were for Canada.

Weekly Export Details

Exports of 257,400 MT were down 9% from the previous week and 13% from the prior four-week average.  The destinations were primarily to Colombia (70,600 MT), the Philippines (50,400 MT), Mexico (33,400 MT), Honduras (24,300 MT), and Canada (22,700 MT).

Comments and Performance Indicators

Export commitments are 2% ahead of year-ago, which compares to 2% ahead of year-ago the week prior. USDA projects exports in 2020-21 will climb 1.2% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2020-21: 4,100

Expectations

2020-21: 5,000-25,000

Weekly Sales Details

Net sales of 4,100 MT for 2020-21 were down 69% from the previous week and 62% from the prior four-week average.  Increases primarily for Nicaragua (2,200 MT), the Dominican Republic (1,700 MT), El Salvador (1,300 MT), and Mexico (500 MT), were offset by reductions for Canada (900 MT) and Jamaica (700 MT).

Weekly Export Details

Exports of 10,700 MT were down 12% from the previous week and 66% from the prior four-week average.  The destinations were primarily to Colombia (5,000 MT), the Dominican Republic (4,200 MT), Mexico (1,000 MT), and Canada (400 MT). 

Comments and Performance Indicators

Export commitments for 2020-21 are 29% behind year-ago, which compares to 24% behind year-ago the week prior. USDA projects exports will dip 8.4% this season.

Cotton

Actual Sales (in RB)

Combined: 119,800
2020-21: 78,400
2021-22: 41,400

Weekly Sales Details

Net sales of 78,400 RB for 2020-21 were down 71% from the previous week and from the prior four-week average.  Increases primarily for Vietnam (97,300 RB, including 13,600 RB switched from China, 1,400 RB switched from South Korea, and 400 RB switched from Japan), Pakistan (37,300 RB), Turkey (28,100 RB, including decreases of 8,800 RB), Mexico (14,100 RB, including decreases of 100 RB), and China (13,500 RB, including decreases of 24,200 RB), were offset by reductions primarily for Indonesia (119,500 RB). For 2021-22, net sales of 41,400 RB primarily for South Korea (19,800 RB), Vietnam (13,200 RB), Turkey (9,700 RB), Mexico (2,000 RB), and Pakistan (1,800 RB), were offset by reductions for Indonesia (6,300 RB). 

Weekly Export Details

Exports of 324,700 RB were up 4% from the previous week, but down 7% from the prior four-week average.  Exports were primarily to Vietnam (70,300 RB), China (63,300 RB), Pakistan (56,300 RB), Turkey (35,200 RB), and Bangladesh (24,000 RB).

Comments and Performance Indicators

Export commitments are 5% behind 2019-20, which compares to 4% behind year-ago last week. USDA forecasts total cotton exports will dip just 0.2% from year-ago to 15.5 million bales this marketing year.

Beef

Actual Sales (in MT)

2021: 18,700

Weekly Sales Details

Net sales of 18,700 MT reported for 2021 were down 1% from the previous week and 15% from the prior four-week average.  Increases primarily for Japan (6,000 MT, including decreases of 700 MT), China (5,900 MT, including decreases of 100 MT), South Korea (2,600 MT, including decreases of 600 MT), Canada (1,100 MT, including decreases of 100 MT), and Hong Kong (800 MT, including decreases of 100 MT), were offset by reductions primarily for Kuwait (100 MT). 

Weekly Export Details

Exports of 18,600 MT were unchanged from the previous week, but up 1% from the prior four-week average.  The destinations were primarily to Japan (5,400 MT), South Korea (5,100 MT), China (2,900 MT), Mexico (1,400 MT), and Canada (800 MT).

Comments and Performance Indicators

USDA reported sales of 18,900 MT last week. USDA projects 2021 exports will climb 6.4% from year-ago levels.

Pork

Actual Sales (in MT)

2021: 61,000

Weekly Sales Details

Net sales of 61,000 MT reported for 2021--a marketing-year high--were up 58% from the previous week and 43% from the prior four-week average.  Increases were primarily for China (29,700 MT, including decreases of 1,200 MT), Mexico (15,800 MT, including decreases of 500 MT), Japan (4,600 MT, including decreases of 200 MT), Canada (3,700 MT, including decreases of 400 MT), and Australia (2,200 MT, including decreases of 300 MT).

Weekly Export Details

Exports of 40,400 MT were up 5% from the previous week and 2% from the prior four-week average.  The destinations were primarily to China (11,900 MT), Mexico (9,900 MT), Japan (5,200 MT), South Korea (4,000 MT), and Colombia (1,800 MT).  

Comments and Performance Indicators

USDA reported net sales of 38,700 MT last week. USDA projects exports in 2021 will edge just 1.5% lower.