Wheat Export Sales Impress

April 17, 2014 02:59 AM
 

The Weekly Export Sales Report for the week ended April 10, 2014, reflected a slowdown in demand for U.S. beans, but this has long been expected. Plus, solid sales of new-crop beans helped the overall tally come in near the upper end of pre-report expectations. Wheat export sales surpassed expectations and corn sales were strong. Beef export sales again notched a marketing year high.

USDA Weekly Export Sales Report
Week Ended April 10, 2014
Corn
Actual Sales (in metric tons -- MT)
Combined: 794,500 MT
<​b><​strong>2013-14: 601,900 MT<​/strong>​<​/b>
2014-15: 192,600 MT
Trade Expectations
550,000 MT to 1,000,000 MT
Weekly Sales Details
Net sales of 601,900 MT for 2013-14 were down 9 percent from the previous week and 36 percent from the prior four-week average. Increases were reported for Japan (161,000 MT, including 115,300 MT switched from unknown destinations, 53,000 MT switched from China, and decreases of 168,200 MT), Israel (120,000 MT, including 55,000 MT switched from China), South Korea (119,800 MT), Taiwan (106,700 MT, including 57,600 MT switched from China), Costa Rica (94,400 MT), Mexico (80,500 MT), and Saudi Arabia (73,800 MT, switched from unknown destinations). Decreases were reported for unknown destinations (268,400 MT) and China (168,000 MT). Net sales of 192,600 MT for 2014-15 were reported for Japan (141,800 MT) and unknown destinations (50,800 MT).
Weekly Export Details
Exports of 1,111,000 MT were down 9 percent from the previous week and 7 percent from the prior four-week average. The primary destinations were Japan (374,800 MT), Mexico (229,300 MT), Colombia (80,700 MT), Egypt (74,800 MT), Saudi Arabia (73,800 MT), Taiwan (69,500 MT), and Venezuela (55,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the 2013-14 marketing year are running 164% ahead of year-ago, which compares to 167% 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: 797,900 MT
2013-14: 438,000 MT
2014-15: 359,900 MT
Trade Expectations
275,000 MT to 625,000 MT
Weekly Sales Details
Net sales of 438,000 metric tons for delivery during the 2013-14 marketing year were up noticeably from the previous week and 48 percent from the prior four-week average. Increases for Brazil (85,000 MT, including 50,000 MT switched from unknown destinations), Peru (64,600 MT), Egypt (63,000 MT, including 60,000 MT switched from Nigeria), Mexico (63,000 MT), Malaysia (41,600 MT, including 38,100 MT switched from unknown destinations), unknown destinations (34,500 MT), and Japan (29,500 MT), were partially offset by decreases for Nigeria (50,000 MT). Net sales of 359,900 MT for 2014-15 were primarily for unknown destinations (211,600 MT), Indonesia (40,000 MT), Mexico (37,000 MT), and Malaysia (20,000 MT).
Weekly Export Details
Exports of 556,300 MT were unchanged from the previous week, but up 9 percent from the prior four-week average. The primary destinations were Japan (96,900 MT), Mexico (76,600 MT), Egypt (63,000 MT), Brazil (55,000 MT), the Philippines (44,700 MT), and Malaysia (41,600 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments for the 2013-14 marketing year are running 17% ahead of year-ago, compared to 18% 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: 419,900 MT
2013-14: 19,200 MT
2014-15: 400,700 MT
Trade Expectations
75,000 MT to 450,000 MT
Weekly Sales Details
Net sales of 19,200 MT for 2013-14 were down 76 percent from the previous week and 79 percent from the prior four-week average. Increases reported for Indonesia (58,000 MT, including 53,500 MT switched from unknown destinations and decreases of 1,000 MT), Japan (34,900 MT, including 20,700 MT switched from unknown destinations and decreases of 4,700 MT), Taiwan (15,800 MT), Egypt (13,100 MT, including 9,000 MT switched from Turkey), and Mexico (11,700 MT), were partially offset by decreases for unknown destinations (68,200 MT), China (54,700 MT), and Turkey (9,000 MT). Net sales of 400,700 MT for 2014-15 were for unknown destinations (330,000 MT), China (60,000 MT), Mexico (8,000 MT), and Canada (2,700 MT).
Weekly Export Details
Exports of 339,200 MT were down 52 percent from the previous week and 58 percent from the prior four-week average. The primary destinations were Indonesia (133,700 MT), China (66,700 MT), Egypt (40,100 MT), Mexico (32,500 MT), Japan (28,300 MT), and Taiwan (14,700 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are running 22% ahead of year-ago compared to 23% ahead the week prior. USDA projects exports in 2013-14 to be 19.7% above the previous marketing year.
Soymeal
Actual Sales
Combined: 120,600 MT<​b>
2013-14: 36,600 MT
2014-15: 84,000 MT
Trade Expectations
150,000 MT to 300,000 MT
Weekly Sales Details
Net sales of 36,600 MT for 2013-14 were down 80 percent from the previous week and 84 percent from the prior four-week average. Increases were reported for Venezuela (40,000 MT, switched from unknown destinations), Mexico (23,300 MT), Honduras (12,200 MT, including 10,000 MT switched from unknown destinations and decreases of 100 MT), Panama (11,100 MT, including 9,300 MT switched from unknown destinations), Japan (9,600 MT, including 9,100 MT switched from unknown destinations), and Egypt (9,200 MT, including 9,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (84,500 MT) and the Philippines (19,500 MT). Net sales of 84,000 MT for 2014-15 were reported for unknown destinations (80,000 MT) and Mexico (4,000 MT).
Weekly Export Details
Exports of 165,900 MT were down 38 percent from the previous week and from the prior four-week average. The primary destinations were Mexico (29,800 MT), Ecuador (26,700 MT), Canada (19,300 MT), the Dominican Republic (17,400 MT), Colombia (10,800 MT), and Honduras (10,700 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments for 2013-14 are running 4% ahead of last year's pace, compared to 7% 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: 5,500 MT
Trade Expectations
0 MT to 60,000 MT
Weekly Sales Details
Net sales of 5,500 MT for 2013-14 were up 63 percent from the previous week and 40 percent from the prior four-week average. Increases reported for Mexico (4,400 MT), Venezuela (1,500 MT), the Dominican Republic (200 MT), and Trinidad (100 MT), were partially offset by decreases for Canada (800 MT).
Weekly Export Details
Exports of 10,100 MT were down 81 percent from the previous week and 50 percent from the prior four-week average. The primary destinations were Mexico (4,700 MT), the Dominican Republic (4,000 MT), Canada (1,200 MT), and Trinidad (100 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: 221,500 RB
2013-14: 87,400 RB
2014-15: 134,100 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales 84,700 RB for 2013-14 were down noticeably from the previous week, but up noticeably from the prior four-week average. Increases were reported for China (29,500 RB, including 2,000 RB switched from South Korea), Turkey (27,800 RB), Vietnam (6,300 RB), Peru (5,200 RB), Taiwan (3,900 RB), and Thailand (3,400 RB). Decreases were reported for El Salvador (1,300 RB). Net sales of 134,100 RB for 2014-15 were primarily for China (45,300 RB), Turkey (26,400 RB), El Salvador (23,800 RB), Indonesia (17,200 RB), and Bangladesh (11,400 RB).
Weekly Export Details
Exports of 280,200 RB were down 8 percent from the previous week and 2 percent from the prior four-week average. The primary destinations were China (78,100 RB), Turkey (55,300 RB), Vietnam (41,700 RB), Indonesia (20,100 RB), South Korea (19,100 RB), and Mexico (17,100 RB). Net American Pima sales of 10,300 RB for 2013-14 were up noticeably from the previous week and 81 percent from the prior four-week average. Increases were reported for India (3,300 RB), China (2,200 RB), Peru (2,000 RB), and Egypt (1,900 RB).
Comments and Performance Indicators
Export commitments are 9% 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: 21,900 MT
Weekly Sales Details
Net sales of 21,900 MT for 2014--a marketing-year high--were up 18 percent from the previous week and 42 percent from the prior four-week average. Increases were reported for Japan (7,800 MT), Mexico (3,800 MT), South Korea (3,500 MT), Hong Kong (2,400 MT), and Canada (1,500 MT).
Weekly Export Details
Exports of 12,700 MT were up 3 percent from the previous week, but unchanged from the prior four-week average. The primary destinations were Japan (3,700 MT), South Korea (2,300 MT), Hong Kong (2,200 MT), Mexico (2,100 MT), and Canada (900 MT).
Comments and Performance Indicators
Exports compare to 18,500 MT the week before. USDA projects exports in 2014 to be 2.6% below last year's total.
Pork
Actual Sales
2014: 8,600 MT
Weekly Sales Details
Net sales of 8,600 MT for 2014 were up noticeably from the previous week and 15 percent from the prior four-week average. Increases were reported for South Korea (2,300 MT), Canada (1,800 MT), Japan (1,500 MT), Mexico (1,100 MT), and the Philippines (500 MT).
Weekly Export Details
Exports of 9,500 MT were primarily to Mexico (3,500 MT), Japan (1,500 MT), Canada (1,000 MT), South Korea (800 MT), and the Philippines (600 MT).
Comments and Performance Indicators
Exports compare to 4,200 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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