Few Surprises in Weekly Export Sales Report

April 10, 2014 02:55 AM
 

The Weekly Export Sales Report for the week ended April 3, 2014, held little by way of surprises, with most figures coming within the range of pre-report trade guesses. Corn and soybean export sales as well as exports continue to point to solid demand, especially considering the time of year. Beef export sales hit a marketing year high, while pork exports hit a low for the marketing year.

USDA Weekly Export Sales Report
Week Ended April 3, 2014
Corn
Actual Sales (in metric tons -- MT)
Combined: 716,700
2013-14: 658,700 MT​<​/strong>
2014-15: 58,000 MT
Trade Expectations
700,000 MT to 1,100,000 MT
Weekly Sales Details
Net sales of 658,700 MT for 2013-14 were down 31% from the previous week and 30% from the prior four-week average. Increases were reported for South Korea (253,000 MT, including 118,700 MT switched from unknown destinations and decreases of 2,200 MT), Japan (171,600 MT, including 102,900 MT switched from unknown destinations and decreases of 26,800 MT), Colombia (72,900 MT, including 54,000 MT switched from unknown destinations), Israel (52,000 MT), Guatemala (48,600 MT, including 21,000 MT switched from unknown destinations), Costa Rica (44,300 MT), and Egypt (39,500 MT, including 38,000 MT switched from China). Decreases were reported for unknown destinations (83,400 MT), China (58,000 MT), and Brazil (35,000 MT). Net sales of 58,000 MT for 2014-15 were reported for Japan.
Weekly Export Details
Exports of 1,217,400 MT were down 15% from the previous week, but up 10% from the prior 4-week average. The primary destinations were Japan (365,400 MT), Mexico (250,200 MT), South Korea (177,900 MT), Colombia (96,700 MT), Taiwan (76,900 MT), and Venezuela (64,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the 2013-14 marketing year are running 167% ahead of year-ago, which compares to 166% 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: 390,900 MT
2013-14: 41,800 MT
2014-15: 349,100 MT
Trade Expectations
400,000 MT to 675,000 MT
Weekly Sales Details
Net sales of 41,800 metric tons--a marketing-year low--for delivery during the 2013-14 marketing year were down 88% from the previous week and 90% from the prior 4-week average. Increases for the Philippines (60,200 MT, including 25,000 MT switched from unknown destinations), Mexico (43,900 MT), Peru (40,400 MT, including 35,000 MT switched from unknown destinations and decreases of 20,000 MT), Algeria (29,000 MT), Brazil (25,000 MT), Guatemala (21,900 MT, including 19,100 MT switched from unknown destinations), and Indonesia (21,500 MT, including 17,500 MT switched from unknown destinations and decreases of 2,400 MT), were partially offset by decreases for unknown destinations (232,000 MT) and Vietnam (6,000 MT). Net sales of 349,100 MT for 2014-15 were primarily for unknown destinations (241,400 MT), Guatemala (32,100 MT), El Salvador (27,700 MT), and Colombia (18,000 MT).
Weekly Export Details
Exports of 553,600 MT were up 6% from the previous week and 14% from the prior 4-week average. The primary destinations were Nigeria (98,700 MT), Peru (74,400 MT), Mexico (71,800 MT), Thailand (55,300 MT), the Philippines (42,500 MT), and Guatemala (34,000 MT).
Comments and Performance Indicators
Sales were well above expectations. Export commitments for the 2013-14 marketing year are running 18% ahead of year-ago, compared to 19% 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: 289,500 MT
2013-14: 79,100 MT
2014-15: 210,400 MT
Trade Expectations
100,000 MT to 450,000 MT
Weekly Sales Details
Net sales of 79,100 MT for 2013-14 were up 20% from the previous week, but down 8% from the prior 4-week average. Increases for Mexico (59,000 MT), South Korea (25,300 MT, including 25,000 MT switched from unknown destinations), Taiwan (21,300 MT), Japan (18,700 MT, including 13,300 MT switched from unknown destinations and decreases of 1,500 MT), and Indonesia (18,000 MT), were partially offset by decreases for unknown destinations (114,600 MT). Net sales of 210,400 MT for 2014-15 were primarily for China (180,000 MT), Indonesia (15,000 MT), and Mexico (10,000 MT).
Weekly Export Details
Exports of 700,400 MT were up 6% from the previous week, but down 15% from the prior 4-week average. The primary destinations were China (325,900 MT), Japan (85,600 MT), Mexico (84,000 MT), Egypt (62,500 MT), Indonesia (50,700 MT), and South Korea (25,800 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are running 23% ahead of year-ago compared to 24% ahead the week prior. USDA projects exports in 2013-14 to be 19.7% above the previous marketing year.
Soymeal
Actual Sales
Combined: 259,700 MT
2013-14: 179,600 MT
2014-15: 80,100 MT
Trade Expectations
100,000 MT to 400,000 MT
Weekly Sales Details
Net sales of 179,600 MT for 2013-14 were down 42% from the previous week and 17% from the prior 4-week average. Increases were reported for unknown destinations (70,100 MT), the Philippines (43,000 MT), Guatemala (20,100 MT, including 7,300 MT switched from unknown destinations, 500 MT switched from El Salvador, and decreases of 800 MT), Canada (15,900 MT), Mexico (11,700 MT), and Thailand (5,900 MT). Decreases were reported for Trinidad (16,200 MT). Net sales of 80,100 MT for 2014-15 were reported for unknown destinations (80,000 MT) and Canada (100 MT).
Weekly Export Details
Exports of 265,800 MT were down 32% from the previous week, but unchanged from the prior 4-week average. The primary destinations were Thailand (60,900 MT), Mexico (49,600 MT), Vietnam (38,300 MT), Canada (24,500 MT), Venezuela (18,000 MT), and Guatemala (14,600 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for 2013-14 are running 7% ahead of last year's pace, compared to 8% 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: 3,400 MT
Trade Expectations
0 MT to 40,000 MT
Weekly Sales Details
Net sales of 3,400 MT for 2013-14 were down 46% from the previous week and 31% from the prior 4-week average. Increases for China (40,000 MT, switched from unknown destinations), Mexico (3,000 MT), and Israel (200 MT), were partially offset by decreases for unknown destinations (40,000 MT) and Canada (100 MT).
Weekly Export Details
Exports of 52,900 MT were up noticeably from the previous week and from the prior 4-week average. The primary destinations were China (40,000 MT), Mexico (5,500 MT), Jamaica (3,500 MT), the Dominican Republic (3,000 MT), and Canada (700 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: 108,400 RB
2013-14: -10,900 RB
2014-15: 119,300 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales reductions of 10,900 RB--a marketing-year-low--resulted as increases for Turkey (28,600 RB), China (7,200 RB), Colombia (6,900 RB, including 14,500 RB switched from Mexico and decreases of 7,700 RB), South Korea (3,900 RB), Taiwan (3,800 RB), and Vietnam (3,700 RB, including 400 RB switched from Japan), were more than offset by decreases for Thailand (25,300 RB), Mexico (13,800 RB), Bangladesh (10,400 RB), and Indonesia (10,200 RB). Net sales of 119,300 RB for 2014-15 were primarily for Turkey (45,100 RB), Thailand (22,200 RB), Indonesia (17,100 RB), and Bangladesh (13,200 RB).
Weekly Export Details
Exports of 303,900 RB were up 23% from the previous week and 11% from the prior 4-week average. The primary destinations were Turkey (83,000 RB), China (64,500 RB), Vietnam (32,200 RB), Thailand (21,900 RB), Indonesia (17,500 RB), and South Korea (14,700 RB).
Comments and Performance Indicators
Export commitments are 8% behind year-ago compared to 6% behind the week prior. USDA projects exports in 2013-14 to be 17.9% behind of the previous marketing year.
Beef
Actual Sales
2014: 18,500 MT
Weekly Sales Details
Net sales of 18,500 MT for 2014--a marketing-year high--were up 34% from the previous week and 21% from the prior 4-week average. Increases were reported for Hong Kong (4,800 MT), South Korea (4,100 MT), Japan (3,900 MT), Mexico (2,400 MT), and Taiwan (1,300 MT).
Weekly Export Details
Exports of 12,400 MT were up 1% from the previous week, but down 4% from the prior 4-week average. The primary destinations were Japan (3,700 MT), Hong Kong (2,500 MT), Mexico (2,100 MT), South Korea (1,800 MT), and Canada (800 MT).
Comments and Performance Indicators
Exports compare to 13,800 MT the week before. USDA projects exports in 2014 to be 2.6% below last year's total.
Pork
Actual Sales
2014: 4,200 MT
Weekly Sales Details
Net sales of 4,200 MT for 2014--a marketing-year low-were down 69% from the previous week and 48% from the prior 4-week average. Increases were reported for Canada (1,000 MT), Honduras (600 MT), Japan (600 MT), Mexico (600 MT), and China (500 MT).
Weekly Export Details
Exports of 9,100 MT were primarily to Mexico (3,300 MT), Japan (1,500 MT), Hong Kong (1,100 MT), South Korea (1,000 MT), and Canada (700 MT).
Comments and Performance Indicators
Exports compare to 13,600 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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