Corn and Wheat Export Sales As Expected

April 24, 2014 02:57 AM
 

The Weekly Export Sales Report for the week ended April 17, 2014, reflected still-strong demand for U.S. corn and decent wheat demand. Soybean export sales were light, but this slowdown has long been anticipated. Both beef and pork export sales were strong last week.

USDA Weekly Export Sales Report
Week Ended April 17, 2014
Corn
Actual Sales (in metric tons -- MT)
Combined: 1,001,800 MT
2013-14: 618,900 MT​<​/strong>
2014-15: 382,900 MT
Trade Expectations
650,000 MT to 1,050,000 MT
Weekly Sales Details
Net sales of 618,900 MT for 2013-14 were up 15% from the previous week, but down 30% from the prior 4-week average. Increases were reported for South Korea (185,000 MT, including 115,000 MT switched from China and 60,000 MT switched from unknown destinations), Japan (168,900 MT, including 101,400 MT switched from unknown destinations and decreases of 5,200 MT), Colombia (133,400 MT, including 154,000 MT switched from unknown destinations and decreases of 17,200 MT), Saudi Arabia (115,000 MT, including 103,400 MT switched from unknown destinations), Egypt (91,600 MT, including 76,600 MT switched from unknown destinations), and Peru (52,600 MT, including 30,000 MT switched from Uruguay). Decreases were reported for unknown destinations (215,900 MT), China (54,000 MT), and Uruguay (30,000 MT). Net sales of 382,900 MT for 2014-15 were reported for Mexico (240,000 MT), Japan (91,400 MT), and unknown destinations (89,400 MT). Decreases were reported for Costa Rica (37,900 MT).
Weekly Export Details
Exports of 1,621,100 MT were up 55% from the previous week and 33% from the prior 4-week average. The primary destinations were Japan (243,300 MT), Colombia (231,000 MT), Egypt (224,600 MT), Taiwan (205,100 MT), South Korea (183,500 MT), Mexico (170,300 MT), and Saudi Arabia (117,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the 2013-14 marketing year are running 163% ahead of year-ago, which compares to 164% ahead of year ago the week before. USDA projects exports in 2013-14 to be 139.4% above the previous marketing year.
Wheat
Actual Sales (in metric tons -- MT)
Combined: 610,800 MT
2013-14: 339,100 MT
2014-15: 271,700 MT
Trade Expectations
450,000 MT to 900,000 MT
Weekly Sales Details
Net sales of 339,100 metric tons for delivery during the 2013-14 marketing year were down 20% from the previous week, but up 13% from the prior 4-week average. Increases for Japan (147,400 MT), Taiwan (68,700 MT), South Korea (63,800 MT, including 60,000 MT switched from unknown destinations), Indonesia (58,900 MT), Mexico (57,100 MT), the Philippines (31,300 MT, including 28,000 MT switched from unknown destinations), and Panama (21,000 MT), were partially offset by decreases for unknown destinations (131,700 MT), Peru (23,500 MT), Venezuela (15,000 MT), and the French West Indies (6,000 MT). Net sales of 271,700 MT for 2014-15 were primarily for unknown destinations (148,900 MT), Peru (28,500 MT), Brazil (25,000 MT), and Taiwan (23,900 MT). Decreases were reported for El Salvador (1,900 MT).
Weekly Export Details
Exports of 519,400 MT were down 4% from the previous week and 3% from the prior 4-week average. The primary destinations were Japan (104,400 MT), Guatemala (49,500 MT), Thailand (48,900 MT), the Philippines (48,300 MT), Mexico (48,000 MT), and Yemen (45,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the 2013-14 marketing year are running 18% ahead of year-ago, compared to 17% ahead the week prior. USDA projects exports in 2013-14 to be up 16.7% compared with the previous marketing year.
Soybeans
 
Actual Sales (in metric tons -- MT)
Combined: 119,000 MT
2013-14: 800 MT
2014-15: 118,200 MT
Trade Expectations
150,000 MT to 650,000 MT
Weekly Sales Details
Net sales of 800 MT for 2013-14--a marketing-year low--were down 96% from the previous week and 98% from the prior 4-week average. Increases reported for Canada (29,800 MT), Mexico (9,900 MT), Indonesia (5,200 MT), Barbados (3,500 MT), Japan (3,400 MT), Taiwan (2,400 MT), and Vietnam (1,700 MT), were partially offset by decreases for China (55,000 MT). Net sales of 118,200 MT for 2014-15 were primarily for unknown destinations (59,000 MT) and China (55,500 MT).
Weekly Export Details
Exports of 182,200 MT were down 46% from the previous week and 70% from the prior 4-week average. The primary destinations were Mexico (61,900 MT), Indonesia (42,900 MT), Japan (28,000 MT), Taiwan (17,600 MT), Colombia (17,400 MT), and Canada (7,500 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments for the new marketing year are running 23% ahead of year-ago compared to 22% ahead the week prior. USDA projects exports in 2013-14 to be 19.7% above the previous marketing year.
Soymeal
Actual Sales
Combined: 195,900 MT
2013-14: 186,300 MT
2014-​15: 9,600 MT
Trade Expectations
75,000 MT to 225,000 MT
Weekly Sales Details
Net sales of 186,300 MT for 2013-14 were up noticeably from the previous week and 9% from the prior 4-week average. Increases were reported for Mexico (61,300 MT), Denmark (49,500 MT, including 45,000 MT switched from unknown destinations), Ecuador (33,000 MT), Canada (21,800 MT), Cost Rica (10,100 MT), Guatemala (8,100 MT, switched from unknown destinations), and El Salvador (5,100 MT, including 4,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (13,000 MT) and the Dominican Republic (200 MT). Net sales reductions of 9,600 MT for 2014-15 resulted as increases for Mexico (2,900 MT), were more than offset by decreases for Cost Rica (10,100 MT) and Canada (2,400 MT).
Weekly Export Details
Exports of 165,600 MT were unchanged from the previous week, but down 34% from the prior 4-week average. The primary destinations were Denmark (49,500 MT), Italy (25,000 MT), Mexico (22,900 MT), Canada (21,500 MT), Honduras (11,900 MT), and Guatemala (8,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for 2013-14 are running 4% ahead of last year's pace, compared to 4% ahead last week. USDA in September projected exports in 2013-14 will be up 0.1% from the previous marketing year.
Soyoil
Actual Sales
2013-14: 5,700 MT
Trade Expectations
0 MT to 35,000 MT
Weekly Sales Details
Net sales of 5,700 MT for 2013-14 were up 5% from the previous week and 21% from the prior 4-week average. Increases reported for Mexico (4,800 MT), the Dominican Republic (500 MT), and Nicaragua (400 MT), were partially offset by decreases for Canada (200 MT).
Weekly Export Details
Exports of 8,400 MT were down 16% from the previous week and 59% from the prior 4-week average. The primary destinations were the Dominican Republic (3,500 MT), Mexico (3,400 MT), Canada (900 MT), and Nicaragua (400 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 30% behind compared to 30% behind year-ago last week. USDA in September projected exports in 2013-14 to be 28.4% behind the previous marketing year.
Cotton
Actual Sales
 
Combined: 140,500 RB
2013-14: 124,100 RB
2014-15: 16,400 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales 124,100 RB for 2013-14 were up 46% from the previous week and up noticeably from the prior 4-week average. Increases were reported for China (105,100 RB), Vietnam (5,600 RB, including 200 RB switched from Indonesia and decreases of 3,200 RB), the Philippines (4,400 RB), Peru (3,100 RB), Taiwan (2,700 RB), and Japan (1,500 RB). Decreases were reported for Turkey (4,500 RB) and Indonesia (1,200 RB). Net sales of 16,400 RB for 2014-15 resulted as increases for Malaysia (18,500 RB), Mexico (11,400 RB), Honduras (3,200 RB), Japan (2,600 RB), and Peru (1,300 RB), were partially offset by decreases for Turkey (21,600 RB).
Weekly Export Details
Exports of 218,900 RB were down 22% from the previous week and 20% from the prior 4-week average. The primary destinations were Turkey (52,200 RB), Vietnam (37,800 RB), China (26,400 RB), Mexico (21,500 RB), Indonesia (17,200 RB), and South Korea (13,000 RB).
Comments and Performance Indicators
Export commitments are 7% behind year-ago compared to 9% behind the week prior. USDA projects exports in 2013-14 to be 17.9% behind of the previous marketing year.
Beef
Actual Sales
2014: 18,000 MT
Weekly Sales Details
Net sales of 18,000 MT for 2014 were down 18% from the previous week, but up 7% from the prior 4-week average. Increases were reported for Mexico (7,200 MT), South Korea (3,600 MT), Japan (3,600 MT), Canada (1,200 MT), and Hong Kong (800 MT).
Weekly Export Details
Exports of 11,900 MT were down 6% from the previous week and 3% from the prior 4-week average. The primary destinations were Japan (3,300 MT), Hong Kong (2,200 MT), Mexico (1,900 MT), South Korea (1,900 MT), and Canada (1,000 MT).
Comments and Performance Indicators
Exports compare to 21,900 MT the week before. USDA projects exports in 2014 to be 2.6% below last year's total.
Pork
Actual Sales
2014: 15,100 MT
Weekly Sales Details
Net sales of 15,100 MT for 2014 were up 77% from the previous week and 83% from the prior 4-week average. Increases were reported for Mexico (4,100 MT), Canada (2,000 MT), South Korea (1,600 MT), Colombia (1,400 MT), and the Dominican Republic (1,200 MT).
Weekly Export Details
Exports of 13,400 MT--a marketing-year high--were up 40% from the previous week and 32% from the prior 4-week average. The primary destinations were Mexico (2,200 MT), Colombia (1,400 MT), Japan (1,300 MT), Canada (1,100 MT), and the Dominican Republic (1,100 MT).
Comments and Performance Indicators
Exports compare to 8,600 MT the week prior. USDA projects exports in 2014 to be 2.8% below last year's total.
Link to USDA report.

 


 

 

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