Soybean and Wheat Export Sales Top Expectations

July 25, 2013 02:53 AM
 

The Weekly Export Sales Report for the week ended July 18, 2013, showed that some value buying is occurring for soybeans. Sales topped expectations and week-ago with China as the lead buyer. Weekly corn export sales fell short of expectations and came in well below last week's impressive tally. Corn sales were still an improvement over tallies of recent months. And wheat export sales remain strong from week to week. Wheat export sales again topped expectations with China as the lead buyer.

USDA Weekly Export Sales Report
Week Ended July 18, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 488,000 MT
2012-13: - 27,900
MT​
2013-14: 515,900 MT

Trade Expectations

600,000 to 950,000 MT

Weekly Sales Details

Net sales reductions of 27,900 MT for 2012/2013 resulted as increases for Japan (29,200 MT, switched from unknown destinations), Mexico (16,300 MT), Venezuela (13,000 MT), Taiwan (10,200 MT), and Guyana (2,900 MT, switched from the French West Indies), were more than offset by decreases for unknown destinations (96,200 MT), the French West Indies (3,000 MT), and Panama (800 MT). Net sales of 515,900 MT for 2013/2014 were primarily for unknown destinations (319,800 MT), Mexico (94,400 MT), and Guatemala (45,000 MT).

Weekly Export Details

Exports of 239,900 MT were up 41 percent from the previous week and 19 percent from the prior 4-week average. The primary destinations were Japan (99,600 MT), Mexico (65,100 MT), Venezuela (48,000 MT), and Colombia (16,700 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are 52% behind year ago compared to 52% behind last week. USDA projects exports in 2012-13 to be 54.6% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2013-14: 661,400 MT<​/strong>
Trade Expectations
400,000 to 600,000 MT
Weekly Sales Details
Net sales of 661,400 MT for delivery in the 2013/2014 marketing year were primarily for China (177,900 MT), Nigeria (122,300 MT, including 46,000 MT switched from unknown destinations and decreases of 1,600 MT), the Philippines (64,800 MT), Mexico (64,300 MT), and Jamaica (36,700 MT). Decreases were reported for Malaysia (28,500 MT), Ireland (14,100 MT), and Ecuador (3,400 MT).
Weekly Export Details

Exports of 567,900 MT were primarily to Nigeria (129,800 MT), China (71,800 MT), South Korea (60,000 MT), the Philippines (48,800 MT), Japan (48,800 MT), Mexico (47,000 MT), and Chile (32,700 MT).

Comments and Performance Indicators

Sales were above expectations. Export commitments for the 2013-14 marketing year are running 45% ahead of year-ago, compared to 44% ahead last week. USDA projects exports in 2013-14 to be up 6.5% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
<​strong>Combined: 793,500 MT
2012-13: 128,300 MT
2013-14: 665,200 MT
Trade Expectations
300,000 to 650,000 MT
Weekly Sales Details
Net sales of 128,300 MT for 2012/2013 were up 16 percent from the previous week and up noticeably from the prior 4-week average. Increases for unknown destinations (34,900 MT), Indonesia (31,500 MT, including 25,100 MT switched from unknown destinations), Japan (29,800 MT), Taiwan (26,500 MT), and Vietnam (5,500 MT), were partially offset by decreases for Mexico (1,300 MT). Net sales of 665,200 MT for 2013/2014 were primarily for China (426,000 MT) and unknown destinations (165,000 MT).
Weekly Export Details
Exports of 82,200 MT were down 32 percent from the previous week and 39 percent from the prior 4-week average. The primary destinations were Mexico (34,100 MT), Indonesia (26,100 MT), Japan (6,800 MT), Vietnam (6,600 MT), and Canada (4,400 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are running 3% behind year-ago compared to 3% behind year-ago last week. USDA projects exports in 2012-13 to be 2.3% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
<​b>Combi​ned: 329,600 MT
2012-13: 184,000 MT
2013-14: 145,600 MT
Trade Expectations
35,000 to 150,000 MT
Weekly Sales Details
Net sales of 184,000 MT for 2012/2013 were up noticeably from the previous week and from the prior 4-week average. Increases for the Philippines (89,900 MT), Mexico (29,600 MT), Venezuela (27,500 MT), Guatemala (19,300 MT), Canada (7,300 MT), and Spain (6,000 MT), were partially offset by decreases for Nicaragua (300 MT). Net sales of 145,600 MT for 2013/2014 were primarily for unknown destinations (135,000 MT), Mexico (5,200 MT), and the Dominican Republic (5,000 MT).
Weekly Export Details
Exports of 58,700 MT--a marketing-year low--were down 73 percent from the previous week and 57 percent from the prior 4-week average. The primary destinations were Mexico (19,300 MT), Canada (14,500 MT), Colombia (5,200 MT), the Philippines (5,200 MT), and Algeria (4,500 MT).
Comments and Performance Indicators
Sales were well above expectations. Export commitments are running 21% ahead of last year's pace compared to 21% ahead of year-ago last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 3,300 MT​<​/strong>

Trade Expectations
0 MT to 20,000 MT
Weekly Sales Details
Net sales of 3,300 MT for 2012/2013 resulted as increases for Nicaragua (3,500 MT) and the United Arab Emirates (100 MT), were partially offset by decreases for unknown destinations (500 MT).
Weekly Export Details
Exports of 900 MT--a marketing-year--low were down 92 percent from the previous week and 91 percent from the prior 4-week average. The primary destinations were Mexico (400 MT) and Canada (400 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 65% ahead of year-ago, compared to 67% ahead last week. USDA projects exports in 2012-13 to be 50.3% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined​: 130,100 RB
2012-13: 33,900 RB
2013-14: 96,200 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 33,900 running bales for 2012/2013 were down 33 percent from the previous week and 22 percent from the prior 4-week average. Increases were reported for China (11,600 RB), Vietnam (7,700 RB), South Korea (5,700 RB), Egypt (2,200 RB), and Bangladesh (1,800 RB). Decreases were reported for Turkey (700 RB), Japan (500 RB), and El Salvador (300 RB). Net sales of 96,200 RB for 2013/2014 were reported primarily for Turkey (21,300 RB), Mexico (14,700 RB), and China (12,400 RB). Decreases were reported for Morocco (300 RB) and El Salvador (200 RB).
Weekly Export Details
Exports of 120,900 RB were down 6 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were China (47,200 RB), Mexico (15,100 RB), Indonesia (13,300 RB), Turkey (9,700 RB), and Vietnam (5,100 RB).
Comments and Performance Indicators
Export commitments are 6% ahead of year-ago compared to 6% ahead with year-ago last week. USDA projects exports in 2012-13 to be 13.6% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
<​strong>2013: 14,900 MT<​/strong>
Weekly Sales Details
Net sales of 14,900 MT for 2013 were primarily for Mexico (4,200 MT), Hong Kong (3,100 MT), Canada (2,300 MT), Japan (2,000 MT), and South Korea (1,200 MT).
Weekly Export Details
Exports of 15,100 MT were down 4 percent from the previous week, but up 1 percent from the prior 4-week average. The primary destinations were Japan (4,400 MT), Hong Kong (2,800 MT), Canada (2,400 MT), Mexico (2,300 MT), and South Korea (1,700 MT).
Comments and Performance Indicators
Exports compare to 15,200 MT last week. USDA projects exports in 2013 to be 5.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 6,800 MT
Weekly Sales Details
Net sales of 6,800 MT for 2013 were primarily for Mexico (3,700 MT), Japan (800 MT), Ukraine (600 MT), Canada (500 MT), and Hong Kong (300 MT).
Weekly Export Details
Exports of 9,300 MT were primarily to Mexico (3,400 MT), Hong Kong (1,700 MT), Japan (1,200 MT), Canada (900 MT), and Ukraine (700 MT).
Comments and Performance Indicators
Exports compare to 4,100 MT last week. USDA projects exports in 2013 to be 6.6% below last year's total.

Link to USDA report.

 


 

 

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