Corn & Wheat Export Sales Hold Strong

April 3, 2014 03:00 AM
 

The Weekly Export Sales Report for the week ended March 27, 2014, reflected strong demand for U.S. corn and wheat. While the soybean tally was far less impressive, it met expectations and included no major cancellations. Soymeal sales were impressive. Meat export sales improved the week ended March 27.

USDA Weekly Export Sales Report
Week Ended March 27, 2014

Corn

Actual Sales (in metric tons -- MT)

Combined: 998,500

2013-14: 960,600 MT<​/strong>

2014-15: 37,900 MT

Trade Expectations

850,000 MT to 1,150,000 MT

Weekly Sales Details

Net sales of 960,600 MT for 2013-14 were down 32% from the previous week and 12% from the prior 4-week average. Increases were reported for Japan (236,500 MT, including 118,300 MT switched from unknown destinations), South Korea (184,600 MT, including 60,000 MT switched from Japan and decreases of 3,200 MT), Egypt (136,200 MT, including 60,000 MT switched from China), Guatemala (106,500 MT, including 20,700 MT switched from unknown destinations, 4,900 MT switched Nicaragua, and 1,900 MT switched from Costa Rica), Colombia (92,300 MT, including 56,900 MT switched from unknown destinations and decreases of 5,600 MT), Taiwan (73,100 MT, including 63,000 MT switched from unknown destinations), Saudi Arabia (69,000 MT, including 65,000 MT switched from China), and Mexico (60,100 MT). Decreases were reported for China (221,400 MT), Honduras (2,500 MT), and Nicaragua (1,200 MT). Net sales of 37,900 MT for 2014-15 were reported for Costa Rica.

Weekly Export Details

Exports of 1,425,700 MT were up 16% from the previous week and 36% from the prior 4-week average. The primary destinations were Japan (324,800 MT), Egypt (261,200 MT), Mexico (207,600 MT), Colombia (163,000 MT), South Korea (123,300 MT), Taiwan (74,400 MT), and Saudi Arabia (69,000 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 166% ahead of year-ago, which compares to 166% 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: 646,900 MT

2013-14: 336,400 MT

2014-15: 310,500 MT

Trade Expectations
200,000 MT to 400,000 MT
Weekly Sales Details
Net sales of 336,400 MT for delivery during the 2013-14 marketing year were down 16% from the previous week and 27% from the prior 4-week average. Increases were reported for Indonesia (68,300 MT, including 65,000 MT switched from unknown destinations), Egypt (63,000 MT), Nigeria (60,600 MT), Brazil (46,400 MT), unknown destinations (35,200 MT), the Dominican Republic (22,300 MT), and Mexico (20,800 MT). Decreases were reported for Guatemala (700 MT). Net sales of 310,500 MT for 2014-15 were primarily for South Korea (74,000 MT), the Dominican Republic (72,500 MT), Guatemala (46,000 MT), and unknown destinations (38,000 MT).
Weekly Export Details
Exports of 523,100 MT were down 1% from the previous week, but up 2% from the prior 4-week average. The primary destinations were Japan (105,200 MT), Mexico (72,700 MT), Indonesia (68,300 MT), Egypt (63,000 MT), South Korea (55,400 MT), and Nigeria (51,000 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the 2013-14 marketing year are running 19% 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: 85,500 MT

2013-14: 66,200 MT

2014-15: 19,300 MT

Trade Expectations
0 to 200,000 MT
Weekly Sales Details
Net sales of 66,200 MT for 2013-14 resulted as increases for China (51,200 MT), Mexico (30,400 MT), Malaysia (25,300 MT, Including 24,000 MT switched from unknown destinations), Japan (22,300 MT, including 8,500 MT switched from unknown destinations), and Indonesia (8,300 MT), were partially offset by decreases for unknown destinations (92,500 MT). Net sales of 19,300 MT for 2014-15 were reported for Mexico (10,900 MT), China (5,000 MT), the Philippines (1,800 MT), Vietnam (1,000 MT), and Canada (700 MT).
Weekly Export Details
Exports of 659,400 MT were down 8% from the previous week and 31% from the prior 4-week average. The primary destinations were China (312,000 MT), Mexico (99,200 MT), Turkey (69,200 MT), Indonesia (52,800 MT), and Malaysia (32,800 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are running 24% ahead of year-ago compared to 25% ahead the week prior. USDA projects exports in 2013-14 to be 15.9% above the previous marketing year.

Soymeal

Actual Sales

Combined: 332,800 MT

2013-14: 307,800 MT<​/b>

2014-15: 25,000 MT

Trade Expectations
100,000 MT to 200,000 MT
Weekly Sales Details
Net sales of 307,800 MT for 2013-14 were up 94% from the previous week and 55% from the prior 4-week average. Increases were reported for Denmark (60,500 MT, including 55,000 MT switched from unknown destinations), Mexico (52,800 MT), Guatemala (42,400 MT, including 8,000 MT switched from unknown destinations), Egypt (25,500 MT), Portugal (24,500 MT), and Cuba (20,900 MT). Decreases were reported for unknown destinations (40,300 MT). Net sales of 25,000 MT for 2014-15 were reported for Costa Rica (10,100 MT), Indonesia (10,000 MT), and Canada (4,900 MT).
Weekly Export Details
Exports of 388,500 MT were up noticeably from the previous week and 54% from the prior 4-week average. The primary destinations were Denmark (60,500 MT), the Philippines (48,300 MT), Thailand (48,100 MT), Mexico (42,300 MT), France (33,000 MT), and Ecuador (30,000 MT).
Comments and Performance Indicators
Sales were well above expectations. Export commitments for 2013-14 are running 8% ahead of last year's pace, compared to 5% 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: 6,200 MT

Trade Expectations
0 MT to 30,000 MT
Weekly Sales Details
Net sales of 6,200 MT for 2013-14 were up 58% from the previous week, but down 17% from the prior 4-week average. Increases reported for Guatemala (3,500 MT, switched from the Dominican Republic) and Mexico (3,300 MT), were partially offset by decreases for Canada (500 MT) and the Dominican Republic (300 MT).
Weekly Export Details
Exports of 14,800 MT were up noticeably from the previous week, but down 37% from the prior 4-week average. The primary destinations were the Dominican Republic (8,500 MT), Guatemala (3,500 MT), Mexico (1,600 MT), Canada (900 MT), and Lebanon (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 30% behind compared to 31% 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: 114,200 RB

 

2013-14: 42,700 RB

 

2014-15: 71,500 RB

Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 42,700 RB for 2013-14 were down 36% from the previous week and 49% from the prior 4-week average. Increases were reported for Taiwan (13,800 RB,), China (13,000 RB), Japan (9,500 RB), Peru (3,000 RB), Turkey (3,000 RB), and Vietnam (2,200 RB). Decreases were reported for Indonesia (6,400 RB) and South Korea (1,400 RB). Net sales of 71,500 RB for 2014-15 were primarily for Turkey (42,200 RB), Thailand (11,400 RB), Pakistan (5,300 RB), and Japan (5,300 RB). Decreases were reported for South Korea (2,000 RB) and El Salvador (200 RB).
Weekly Export Details
Exports of 246,700 RB were down 5% from the previous week and 19% from the prior 4-week average. The primary destinations were Turkey (58,700 RB), China (47,600 RB), Indonesia (25,900 RB), Vietnam (20,500 RB), Mexico (14,900 RB), and Thailand (14,300 RB).
Comments and Performance Indicators
Export commitments are 6% 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: 13,800 MT

Weekly Sales Details
Net sales of 13,800 MT for 2014 were up 4% from the previous week, but down 6% from the prior 4-week average. Increases were reported for Japan (5,500 MT), Hong Kong (2,900 MT), Mexico (1,700 MT), South Korea (1,600 MT), and Taiwan (800 MT). Decreases were reported for the Philippines (300 MT).
Weekly Export Details
Exports of 12,200 MT were up 5% from the previous week, but down 4% from the prior 4-week average. The primary destinations were Japan (3,700 MT), Hong Kong (2,600 MT), Mexico (2,200 MT), South Korea (1,700 MT), and Canada (600 MT).
Comments and Performance Indicators
Exports compare to 13,200 MT the week before. USDA projects exports in 2014 to be 5.7% below last year's total.

Pork

Actual Sales
2014: 13,600 MT
Weekly Sales Details
Net sales of 13,600 MT were up noticeably from the previous week and 91% from the prior 4-week average. Increases were reported for Mexico (6,700 MT), Hong Kong (2,600 MT), South Korea (1,100 MT), Japan (1,000 MT), and China (800 MT).
Weekly Export Details
Exports of 11,500 MT were primarily to Mexico (3,900 MT), South Korea (1,800 MT), Japan (1,300 MT), Hong Kong (1,100 MT), and Canada (700 MT).
Comments and Performance Indicators
Exports compare to 6,600 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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