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Soybean Export Sales Top Expectations and 1.4 MMT

April 26, 2012
By: Meghan Pedersen, Pro Farmer Associate Editor
 
 

The Weekly Export Sales Report for the week ended April 19, 2012, reflected global appetite for soybeans remain strong. Total bean export sales topped lofty expectations and 1.4 million metric tons. Wheat sales also exceeded expectations. Corn sales matched expectations, with strong buying seen of old-crop supplies. This signals prices have not been high enough to encourage rationing. Cotton sales improved this week, though they are still nothing to write home about. Beef export sales were also decent.

USDA Weekly Export Sales Report
Week Ended April 19, 2012

Corn

Actual Sales (in metric tons -- MT)

Combined: 826,200 MT
2011-12: 645,600 MT
2012-13:
180,600 MT

Trade Expectations

800,000 to 1,000,000 MT

Weekly Sales Details

Net sales of 645,600 MT were up noticeably from the previous week and 11 percent from the prior 4-week average. Increases were reported for Japan (356,700 MT, including 82,700 MT switched from unknown destinations and decreases of 3,100 MT), unknown destinations (79,000 MT), South Korea (63,200 MT), Mexico (47,800 MT), China (37,300 MT), and Canada (15,400 MT). Net sales of 180,600 MT for the 2012-13 marketing year were reported primarily for unknown destinations (180,000 MT).

Weekly Export Details

Exports of 700,200 MT were down 37 percent from the previous week and 13 percent from the prior 4-week average. The primary destinations were Mexico (236,700 MT), Japan (192,500 MT), China (66,800 MT), Saudi Arabia (63,200 MT), Egypt (39,100 MT), and Venezuela (34,000 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments are 12% below year ago, compared to 13% below last week. USDA projects exports in 2011-12 to be 7.4% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 744,00 MT
2011-12: 386,700 MT
2012-13: 357,300 MT
Trade Expectations
400,000 to 650,000 MT
Weekly Sales Details
Net sales of 386,700 MT were up 6 percent from the previous week and 7 percent from the prior 4-week average. Increases were reported for Egypt (68,300 MT), Japan (65,300 MT), Mexico (54,500 MT), Taiwan (41,700 MT), Nigeria (31,500 MT), and Guatemala (31,300 MT, switched from unknown destinations). Decreases were reported for Israel (2,000 MT) and Belize (1,100 MT). Net sales of 357,300 MT for delivery in the 2012-13 marketing year were primarily for unknown destinations (127,400 MT), South Korea (62,700 MT), China (58,000 MT), and Mexico (55,900 MT).
Weekly Export Details
Exports of 617,700 MT were down 2 percent from the previous week, but up 29 percent from the prior 4-week average. The primary destinations were Egypt (188,300 MT), Mexico (80,000 MT), the Philippines (75,600 MT), South Korea (63,000 MT), Thailand (44,000 MT), and Japan (42,600 MT).
Comments and Performance Indicators
Sales were above trade expectations. Export commitments are 21% behind year-ago, compared to 22% behind last week. USDA projects exports in 2011-12 to be 22.4% below the previous marketing year.

Soybeans

Actual Sales (in metric tons -- MT)

Combined: 1,409,200 MT
2011-12: 926,200 MT
2012-13: 483,000 MT

Trade Expectations
900,000 to 1,250,000 MT
Weekly Sales Details
Net sales of 926,200 MT were up noticeably from the previous week and from the prior 4-week average. Increases were primarily for China (603,800 MT, including 60,000 MT switched from unknown destinations and decreases of 2,000 MT), unknown destinations (136,500 MT), Mexico (100,800 MT), Japan (40,000 MT), and Taiwan (16,300 MT). Net sales of 483,000 MT for delivery in the 2012-13 marketing year were primarily for China (365,000 MT) and unknown destinations (115,000 MT).
Weekly Export Details
Exports of 346,600 MT were reported primarily to China (185,700 MT), Egypt (65,600 MT), Mexico (51,000 MT), Taiwan (11,400 MT), Indonesia (7,400 MT), and Cuba (7,200 MT). NOTE: Accumulated exports were adjusted down for China (61,100 MT).
Comments and Performance Indicators

Sales well above expectations. Export commitments are running 19% behind year-ago, which compares to 20% behind last week. USDA projects exports in 2011-12 to be 14.1% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

Combined: 232,800 MT
2011-12: 221,100 MT
2012-13: 11,700 MT

Trade Expectations
150,000 to 300,000 MT
Weekly Sales Details
Net sales of 221,100 MT were down 27 percent from the previous week, but up 38 percent from the prior 4-week average. Increases were reported for the Philippines (46,600 MT), Ireland (33,000 MT), Peru (31,000 MT), Latvia (27,000 MT, switched from unknown destinations)and Venezuela (26,500 MT). Decreases were reported for unknown destinations (4, 900 MT) and Panama (4,900 MT). Net sales of 11,700 MT for delivery in the 2012-13 marketing year were reported for Canada (5,000 MT), Panama (4,900 MT), and Jamaica (1,800 MT).
Weekly Export Details
Exports of 124,700 MT were down 41 percent from the previous week and 30 percent from the prior 4-week average. Exports were reported to Mexico (34,100 MT), Ecuador (31,700 MT), Canada (18,800 MT), Egypt (16,100 MT), and the Dominican Republic (8,900 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 6% behind year-ago, compared to 8% behind last week. USDA projects exports in 2011-12 to be 2.2% below the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2011-12: 700 MT

Trade Expectations
5,000 to 15,000 MT
Weekly Sales Details
Net sales of 700 MT resulted as increases for Nicaragua (1,000 MT) and El Salvador (200 MT), were partially offset by decreases for Canada (600 MT).
Weekly Export Details
Exports of 2,900 MT were down 50 percent from the previous week and 68 percent from the prior 4-week average. Exports were reported to Mexico (1,100 MT), Nicaragua (1,000 MT), and Canada (600 MT).
Comments and Performance Indicators
Sales were well below expectations. Export commitments are 69% below year-ago, compared to 69% below last week. USDA projects exports in 2011-12 to be 62.9% below the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 200,800 RB
2011-12: 144,800 RB
2012-13: 56,000 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 144,800 running bales for the 2011-12 marketing year were up noticeably from the previous week and from the prior 4-week average. Increases were for China (91,000 RB), Turkey (14,900 RB), Mexico (10,100 RB), and Indonesia (7,000 RB). Net sales of 56,000 RB for delivery in the 2012-13 marketing year were primarily for China (22,800 RB) and El Salvador (22,500 RB).
Weekly Export Details
Exports of 274,700 RB were up 5 percent from the previous week, but down 7 percent from the prior 4-week average. The primary destinations were China (147,000 RB), Turkey (28,500 RB), Vietnam (23,200 RB), and South Korea (10,700 RB).
Comments and Performance Indicators
Export commitments are 25% behind year-ago compared to 26% behind last week. USDA projects exports in 2011-12 to be 20.7% below the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

2012: 15,500 MT

Weekly Sales Details
Net sales of 15,500 MT were down 25 percent from the previous week, but up 30 percent from the prior 4-week average. Increases were reported for Mexico (3,900 MT), South Korea (2,900 MT), Russia (2,600 MT), Japan (1,700 MT), and Canada (1,500 MT).
Weekly Export Details
Exports of 17,600 MT were primarily to Mexico (4,000 MT), South Korea (3,300 MT), Japan (2,600 MT), Russia (2,100 MT), and Canada (1,700 MT).
Comments and Performance Indicators
Exports compare to 20,700 MT last week. USDA projects exports in 2012 to be 2.3% below last year's total.

Link to USDA report.

 


 

 

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