Soybean & Wheat Export Sales Impress

March 13, 2014 03:46 AM
 

The Weekly Export Sales Report for the week ended March 6, 2014, reflected ongoing demand strength for corn, soybeans and wheat. Soybean and wheat exports topped expectations and China was the lead buyer of new-crop beans. Just light old-crop soybean cancelations were noted for China and "unknown." Cotton export sales were decent and beef export sales notched a new marketing year high. Pork export sales, on the other hand, were down from week-ago.

USDA Weekly Export Sales Report
Week Ended March 6, 2014

Corn

Actual Sales (in metric tons -- MT)

Combined: 787,000 MT

<​strong>2013-14​: 683,400 MT<​/strong>

2014-15: 103,600 MT

Trade Expectations

650,000 MT to 900,000 MT

Weekly Sales Details

Net sales of 683,400 MT for 2013-14 were down 55% from the previous week and 37% from the prior 4-week average. Increases were reported for Japan (262,400 MT, including 154,200 MT switched from China and 38,400 MT from unknown destinations, and decreases of 800 MT), South Korea (212,200 MT), Taiwan (145,500 MT, including 56,900 MT switched from unknown destinations and decreases of 800 MT), Colombia (108,300 MT, including 30,000 MT switched from unknown destinations), and Mexico (101,500 MT). Decreases were reported for unknown destinations (362,600 MT) and China (116,500 MT). Net sales of 103,600 MT for 2014-15 were reported for unknown destinations (101,600 MT) and Mexico (2,000 MT).

Weekly Export Details

Exports of 907,400 MT were down 20% from the previous week and 2% from the prior 4-week average. The primary destinations were Japan (351,300 MT), Taiwan (126,000 MT), Mexico (118,700 MT), Saudi Arabia (80,000 MT), and Peru (64,900 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 159% ahead of year-ago, which compares to 159% ahead of year ago the week before. USDA projects exports in 2013-14 to be 122.3% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)

Combined: 566,100 MT

 

2013-14: 476,900 MT

2014-15: 89,200 MT

Trade Expectations
350,000 MT to 550,000 MT
Weekly Sales Details
Net sales of 476,900 MT for delivery during the 2013-14 marketing year were down 14% from the previous week and 2% from the prior 4-week average. Increases were reported for Nigeria (89,800 MT, including 9,800 MT switched from unknown destinations), Taiwan (83,000 MT), Indonesia (71,500 MT, including 45,000 MT switched from unknown destinations), Thailand (50,000 MT), Mexico (46,600 MT), Japan (25,000 MT), and Vietnam (23,500 MT). Decreases were reported for unknown destinations (36,100 MT). Net sales of 89,200 MT for 2014-15 were reported for the Philippines (66,000 MT), Mexico (11,200 MT), Colombia (6,000 MT), and China (6,000 MT).
Weekly Export Details
Exports of 455,700 MT were down 28% from the previous week and 2% from the prior 4-week average. The primary destinations were Mexico (78,800 MT), Indonesia (71,500 MT), Japan (62,200 MT), the Philippines (45,500 MT), and Israel (36,600 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the 2013-14 marketing year are running 20% ahead of year-ago, compared to 23% 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: 890,400 MT

 

2013-14: 113,500 MT

2014-15: 776,900 MT

Trade Expectations
125,000 MT to 400,000 MT
Weekly Sales Details
Net sales of 113,500 MT for 2013-14 were down 85% from the previous week and 65% from the prior 4-week average. Increases reported for Mexico (136,400 MT), Japan (65,600 MT, including 45,000 MT switched from unknown destinations and decreases of 2,700 MT), Taiwan (52,100 MT, including 60,000 MT switched from unknown destinations and decreases of 15,200 MT), Colombia (12,100 MT), and Indonesia (7,300 MT), were partially offset by decreases for unknown destinations (96,000 MT) and China (81,800 MT). Net sales of 776,900 MT for 2014-15 were reported primarily for China (593,000 MT), unknown destinations (141,500 MT), and Mexico (39,000 MT).
Weekly Export Details
Exports of 863,200 MT were down 27% from the previous week and 40% from the prior 4-week average. The primary destinations were China (389,500 MT), Mexico (93,500 MT), Japan (75,900 MT), Taiwan (73,600 MT), and Egypt (65,000 MT).
Comments and Performance Indicators

Sales were well above above expectations. Export commitments for the new marketing year are running 25% ahead of year-ago compared to 27% ahead the week prior. USDA projects exports in 2013-14 to be 15.9% above the previous marketing year.

Soymeal

Actual Sales

Combined: 203,000 MT

2013-14: 160,000 MT​<​/strong>

2014-15: 143,000 MT

Trade Expectations
100,000 MT to 200,000 MT
Weekly Sales Details
Net sales of 160,000 MT for 2013-14 were down 31% from the previous week, but up 8% from the prior 4-week average. Increases were reported for the Philippines (69,300 MT, including 45,000 MT switched from unknown destinations), Thailand (63,000 MT, including 60,000 MT switched from unknown destinations), Mexico (51,700 MT), France (30,000 MT), Canada (29,300 MT), and Denmark (25,300 MT, including 25,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (145,600 MT). Net sales of 143,000 MT for 2014-15 were reported for unknown destinations (125,000 MT) and Ireland (18,000 MT).
Weekly Export Details
Exports of 252,800 MT were down 24% from the previous week and 12% from the prior 4-week average. The primary destinations were Thailand (63,000 MT), the Philippines (48,100 MT), South Korea (35,200 MT), Denmark (25,300 MT), Venezuela (24,000 MT), and Mexico (16,600 MT).
Comments and Performance Indicators
Sales were just above expectations. Export commitments for 2013-14 are running 4% ahead of last year's pace, compared to 2% ahead last week. USDA in September projected exports in 2013-14 will be down 1.9% from the previous marketing year.

Soyoil

Actual Sales

2013-14: 7,100 MT

Trade Expectations
0 MT to 30,000 MT
Weekly Sales Details
Net sales of 7,100 MT for 2013-14 were down 58% from the previous week and 66% from the prior 4-week average. Increases were reported for Mexico (3,100 MT), the Dominican Republic (2,300 MT), Chile (1,200 MT), and El Salvador (500 MT). Decreases were reported for Canada (100 MT).
Weekly Export Details
Exports of 2,500 MT were down 97% from the previous week and 92% from the prior 4-week average. The primary destinations were Mexico (2,100 MT) and Canada (300 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 29% behind compared to 29% behind year-ago last week. USDA in September projected exports in 2013-14 to be 30.7% behind the previous marketing year.

Cotton

Actual Sales

Combined: 180,400 RB

2013-14: 60,000 RB

2014-15: 120,400 RB

Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 60,000 RB for 2013-14 were down 62% from the previous week and 36% from the prior 4-week average. Increases were reported for Thailand (19,200 RB, including 400 RB switched from South Korea and decreases of 1,800 RB), Mexico (13,100 RB), China (11,700 RB), Taiwan (8,500 RB), Japan (7,500 RB), and Bangladesh (6,300 RB). Decreases were reported for Turkey (19,300 RB), Vietnam (11,700 RB), and India (3,900 RB). Net sales of 120,400 RB for 2014-15 were reported for Turkey (89,100 RB), Thailand (11,900 RB), South Korea (10,000 RB), and El Salvador (4,800 RB). Decreases were reported for Indonesia (900 RB).
Weekly Export Details
Exports of 264,200 RB were down 27% from the previous week and 19% from the prior 4-week average. The primary destinations were Turkey (77,100 RB), China (50,000 RB), Vietnam (29,000 RB), Indonesia (28,800 RB), Mexico (16,400 RB), and Thailand (13,300 RB).
Comments and Performance Indicators
Export commitments are 8% behind year-ago compared to 8% behind the week prior. USDA projects exports in 2013-14 to be 17.9% behind of the previous marketing year.

Beef

Actual Sales
2014: 17,700 MT
Weekly Sales Details
Net sales of 17,700 MT for 2014--a marketing-year high--were up 60% from the previous week and 44% from the prior 4-week average. Increases were reported for Japan (8,400 MT), Hong Kong (3,800 MT), South Korea (2,700 MT), Canada (1,300 MT), and Vietnam (500 MT).
Weekly Export Details
Exports of 13,200 MT--a marketing-year high--were up 16% from the previous week and 13% from the prior 4-week average. The primary destinations were Japan (4,200 MT), Hong Kong (2,500 MT), Mexico (2,100 MT), South Korea (2,000 MT), and Canada (900 MT).
Comments and Performance Indicators
Exports compare to 11,100 MT the week before. USDA projects exports in 2014 to be 5.7% below last year's total.

Pork

Actual Sales
2014: 7,100 MT
Weekly Sales Details
Net sales of 7,100 MT for 2014 were down 25% from the previous week and 44% from the prior 4-week average. Increases were reported for Japan (2,200 MT), Canada (1,700 MT), South Korea (1,200 MT), Colombia (400 MT), and Hong Kong (300 MT).
Weekly Export Details
Exports of 12,000 MT were primarily to Mexico (4,200 MT), South Korea (1,700 MT), Japan (1,600 MT), Canada (1,000 MT), and Hong Kong (900 MT).
Comments and Performance Indicators
Exports compare to 9,500 MT the week prior. USDA projects exports in 2014 to be 1.9% above last year's total.

Link to USDA report.

 


 

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