Impressive Soybean Export Sales Hit New Marketing Year High

January 17, 2013 01:54 AM
 

The Weekly Export Sales Report for the week ended Jan. 10, 2013, reflects a voracious Chinese appetite for U.S. grain and especially soybeans. Weekly soybean export sales of 1,608,800 MT were a marketing year high and then you can add 180,000 MT in sales for 2013-14 to that tally. Weekly corn export sales improved notably over last week, as did wheat, cotton and beef sales.

USDA Weekly Export Sales Report
Week Ended Jan. 10, 2013

Corn

Actual Sales (in metric tons -- MT)

2012-13: 393,300 MT<​/strong><​/b>

Trade Expectations

150,000 to 250,000 MT

Weekly Sales Details

Net sales of 393,300 MT for the 2012-13 marketing year were up noticeably from the previous week and from the prior 4-week average. Increases for Mexico (113,000 MT), unknown destinations (98,600 MT), Japan (68,300 MT, including 13,400 MT switched from unknown destinations and decreases of 1,100 MT), and China (62,600 MT, including 60,000 MT switched from unknown destinations), were partially offset by decreases for Colombia (6,900 MT), Jamaica (3,900 MT), and the Dominican Republic (2,000 MT).

Weekly Export Details

Exports of 246,900 MT were up noticeably from the previous week, but down 4% from the prior 4-week average. The primary destinations were Japan (86,000 MT), China (62,600 MT), Mexico (47,900 MT), and Cuba (27,500 MT).

Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are 49% behind year ago compared to 49% behind last week. USDA projects exports in 2012-13 to be 38.4% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 574,700 MT
2012-13: 536,200 MT
2013-14: 38,500 MT
<​/b>
Trade Expectations
450,000 to 650,000 MT
Weekly Sales Details
Net sales of 536,200 MT for the 2012-13 marketing year were up noticeably from the previous week, but down 7% from the prior 4-week average. Increases were reported for Egypt (146,000 MT), China (111,700 MT), unknown destinations (81,300 MT), Chile (58,800 MT), and Mexico (54,500 MT). Net sales of 38,500 MT for the 2013-14 marketing year were reported for unknown destinations (20,000 MT), Colombia (13,500 MT), and Honduras (5,000 MT).
Weekly Export Details
Exports of 284,800 MT were up 8% from the previous week, but down 9% from the prior 4-week average. The primary destinations were the Philippines (74,300 MT), Mexico (56,600 MT), Taiwan (54,600 MT), Chile (52,800 MT), and Venezuela (33,800 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the 2012-13 marketing year are 4% behind year-ago, compared to 4% behind last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 1,788,800 MT
2012-13: 1,608,800 MT
2013-14: 180,000 MT
Trade Expectations
750,000 to 950,000 MT
Weekly Sales Details
Net sales of 1,608,800 MT--a marketing-year high--for the 2012-13 marketing year were for China (845,600 MT, including 60,000 MT switched from unknown destinations and decreases of 24,600 MT), Egypt (130,500 MT), the Netherlands (125,500 MT, including 125,000 MT switched from unknown destinations), Mexico (104,700 MT), and Spain (81,600 MT, including 74,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (34,100 MT) and Costa Rica (14,300 MT). Net sales of 180,000 MT for delivery in the 2013-14 marketing year were for China.
Weekly Export Details
Exports of 1,280,200 MT were up 9% from the previous week and 11% from the prior 4-week average. The primary destinations were China (723,500 MT), the Netherlands (125,500 MT), Spain (81,600 MT), Mexico (77,500 MT), and South Korea (58,900 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 28% ahead of year-ago compared to 27% ahead last week. USDA projects exports in 2012-13 to be 1.2% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
Combined: 245,100 MT
2012-13: 236,100 MT
2013-14: 9,000 MT
Trade Expectations
100,000 to 150,000 MT
Weekly Sales Details
Net sales of 236,100 MT for the 2012-13 marketing year were up noticeably from the previous week and up 37% from the prior 4-week average. Increases were reported for Denmark (95,300 MT, including 87,000 MT switched from unknown destinations), Australia (41,400 MT, including 40,000 MT switched from unknown destinations), Ecuador (32,500 MT), Colombia (24,300 MT), Poland (19,600 MT, switched from unknown destinations), and Mexico (18,400 MT). Decreases were reported for unknown destinations (72,700 MT), the Dominican Republic (23,300 MT), and Jamaica (2,000 MT). Net sales of 9,000 MT for delivery in the 2013-14 marketing year were for Mexico.
Weekly Export Details
Exports of 374,900 MT were up 77% from the previous week and 83% from the prior 4-week average. The primary destinations were Denmark (95,300 MT), Poland (46,600 MT), Australia (41,400 MT), Egypt (36,800 MT), and Ecuador (27,500 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments are running 42% ahead of last year's pace compared to 42% ahead of year-ago last week. USDA projects exports in 2012-13 to be 10.7% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​strong> 2012-13: 12,900 MT<​/b>

Trade Expectations
15,000 to 25,000 MT
Weekly Sales Details
Net sales of 12,900 MT for the 2012-13 marketing year were up 19% from the previous week, but down 4% from the prior 4-week average. Increases were reported for Hong Kong (3,500 MT), China (3,000 MT), Canada (2,300 MT), and Mexico (1,500 MT).
Weekly Export Details
Exports of 9,900 MT were down 77% from the previous week and 66% from the prior 4-week average. The primary destinations were Colombia (4,900 MT), Mexico (2,800 MT), Nicaragua (1,000 MT), and Canada (1,000 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments for the new marketing year are 289% ahead of year-ago, compared to 261% ahead last week. USDA projects exports in 2012-13 to be 46.9% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 343,700 RB
2012-13: 339,000 RB
2013-14: 4,700 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 339,000 running bales for the 2012-13 marketing year were up 73% from the previous week and 36% from the prior 4-week average. Increases were reported for China (108,200 RB), Turkey (83,600 RB), Indonesia (42,300 RB), Vietnam (29,800 RB), Thailand (16,000 RB), and Taiwan (12,700 RB). Decreases were reported for El Salvador (1,200 RB). Net sales of 4,700 RB for delivery in the 2013-14 marketing year were for Indonesia (3,400 RB) and Japan (1,300 RB).
Weekly Export Details
Exports of 315,600 RB--a marketing-year-high--were up 23% from the previous week and 61% from the prior 4-week average. The primary destinations were China (169,600 RB), Turkey (34,800 RB), Vietnam (24,000 RB), Mexico (15,600 RB), Pakistan (15,000 RB), and Thailand (9,800 RB).
Comments and Performance Indicators
Export commitments are 10% behind year-ago compared to 12% behind last week. USDA projects exports in 2012-13 to be 4.2% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 18,000 MT<​/strong>
Weekly Sales Details
Net sales of 18,000 MT for delivery in 2013 were primarily for Japan (4,600 MT), South Korea (3,600 MT), Mexico (3,500 MT), Canada (2,600 MT), and Egypt (900 MT).
Weekly Export Details
Exports of 15,200 MT were mainly to Mexico (3,700 MT), Japan (2,800 MT), Canada (2,400 MT), South Korea (1,800 MT), and Hong Kong (1,100 MT).
Comments and Performance Indicators
Exports compare to 12,600 MT last week. USDA projects exports in 2013 to be 1.4% below last year's total.

Link to USDA report.

 


 

 

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