Corn & Soybean Export Sales Impress

December 12, 2013 02:42 AM
 

The Weekly Export Sales Report for the week ended Dec. 5, reflected a growing appetite for U.S. corn and soybeans, but wheat export demand remains unimpressive.

USDA Weekly Export Sales Report
Week Ended Dec. 5, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 804,800

<​b><​strong>2013​-14: 695,400 MT

2014-15: 109,400 MT

Trade Expectations

600,000 MT to 750,000 MT

Weekly Sales Details

Net sales of 695,400 MT for 2013-14 were up 17% from the previous week, but down 26% from the prior 4-week average. Increases were reported for Mexico (519,700 MT), Japan (201,100 MT, including 93,500 MT switched from unknown destinations and decreases of 6,000 MT), China (111,700 MT, including 54,000 MT switched from unknown destinations and decreases of 9,000 MT), Peru (63,500 MT), Venezuela (50,100 MT, including 30,000 MT switched from unknown destinations), and Guatemala (14,100 MT, including 13,300 MT switched from unknown destinations and decreases of 700 MT). Decreases were reported for unknown destinations (297,900 MT) and Colombia (13,500 MT). Net sales of 109,400 MT for 2014-15 were reported for Mexico.

Weekly Export Details

Exports of 977,400 MT were primarily to China (370,700 MT), Mexico (278,100 MT), Japan (93,500 MT), Peru (60,100 MT), and Venezuela (49,100 MT).

Comments and Performance Indicators

Sales topped expectations. Export commitments for the 2013-14 marketing year are running 114% ahead of year-ago, which compares to 113% ahead of year ago the week before. USDA projects exports in 2013-14 to be 98.4% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2013-14: 372,200 MT
Trade Expectations
300,000 MT to 500,000 MT
Weekly Sales Details
Net sales of 372,200 MT for delivery during the 2013-14 marketing year were up 62% from the previous week, but down 12% from the prior 4-week average. Increases reported for Nigeria (95,000 MT), Brazil (54,500 MT, including 50,000 MT switched from unknown destinations and decreases of 1,200 MT), Mexico (51,700 MT), Japan (47,200 MT), and Taiwan (44,200 MT), were partially offset by decreases for unknown destinations (73,400 MT), China (3,400 MT), and Costa Rica (1,200 MT).
Weekly Export Details
Exports of 563,200 MT were up 53% from the previous week and 38% from the prior 4-week average. The primary destinations were China (116,600 MT), Brazil (107,000 MT), the Philippines (79,600 MT), Japan (65,300 MT), and South Korea (55,600 MT).
Comments and Performance Indicators

Sales within expectations. Export commitments for the 2013-14 marketing year are running 35% ahead of year-ago, compared to 37% ahead the week ended Oct. 3. USDA projects exports in 2013-14 to be up 9.2% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)

Combined: 1,522,500 MT

 

2013-14: 1,108,600 MT


2014-15: 413,900 MT


Trade Expectations
750,000 MT to 950,000 MT
Weekly Sales Details
Net sales of 1,108,600 MT for 2013-14 were up 38% from the previous week and 2% from the prior 4-week average. Increases were reported for China (558,100 MT, including 58,200 MT switched from unknown destinations and decreases of 9,200 MT), Mexico (108,400 MT), Germany (74,800 MT), Saudi Arabia (70,000 MT, switched from unknown destinations), and South Korea (59,800 MT, including 55,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (102,500 MT) and the United Kingdom (7,400 MT). Net sales of 413,900 MT for 2014-15 were reported for unknown destinations (300,900 MT), China (111,000 MT), and Japan (2,000 MT).
Weekly Export Details
Exports of 1,711,200 MT were primarily to China (1,029,900 MT), Germany (74,800 MT), Mexico (74,300 MT), Saudi Arabia (70,000 MT), South Korea (59,800 MT), and the United Kingdom (58,600 MT).
Comments and Performance Indicators

Sales were WELL above expectations. Export commitments for the new marketing year are running 30% ahead of year-ago compared to 32% ahead the week prior. USDA projects exports in 2013-14 to be 11.7% above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

Combined: 83,000

2013-14: 82,700 MT<​/b>

2014-15: 300 MT

Trade Expectations
100,000 MT to 200,000 MT
Weekly Sales Details
Net sales of 82,700 MT for 2013-14 were down 31% from the previous week and 60% from the prior 4-week average. Increases were reported for France (51,500 MT, including 49,000 MT switched from unknown destinations), Turkey (39,700 MT), Morocco (24,000 MT), and Venezuela (21,000 MT). Decreases were reported for unknown destinations (57,600 MT) and Colombia (44,300 MT). Net sales of 300 MT for 2014-15 were reported for Mexico.
Weekly Export Details
Exports of 334,300 MT were up 5% from the previous week and 23% from the prior 4-week average. The primary destinations were France (51,500 MT), Thailand (49,500 MT), Egypt (42,900 MT), Spain (31,600 MT), and Italy (27,500 MT).
Comments and Performance Indicators
Sales were just below expectations. Export commitments for 2013-14 are running 12% ahead of last year's pace, compared to 15% ahead last week. USDA in September projected exports in 2013-14 will be down 7.2% from the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)
2013-14: 2,300 MT
Trade Expectations
0 MT to 30,000 MT
Weekly Sales Details
Net sales of 2,300 MT for 2013-14 resulted as increases for the Dominican Republic (1,800 MT), Mexico (1,100 MT), Guatemala (500 MT), and El Salvador (500 MT), were partially offset by decreases for Canada (2,100 MT).
Weekly Export Details
Exports of 29,300 MT were up 1% from the previous week and up noticeably from the prior 4-week average. The primary destinations were China (16,100 MT), Mexico (4,200 MT), Senegal (4,200 MT), and Hong Kong (2,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 56% behind compared to 55% behind year-ago last week. USDA in September projected exports in 2013-14 to be 5.5% behind the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 174,500 RB
2013-14: 174,100 RB
2014-15: 400 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 174,100 RB for 2013-14 were down 30% from the previous week and 46% from the prior 4-week average. Increases were reported for China (50,700 RB, including 900 RB switched from South Korea and decreases of 300 RB), Turkey (37,400 RB), Taiwan (20,900 RB), Indonesia (18,900 RB, including 1,000 RB switched from Japan), and Brazil (14,000 RB). Decreases were reported for Japan (300 RB). Net sales of 400 RB for 2014-15 were reported for Indonesia.
Weekly Export Details
Exports of 165,200 RB were up 55% from the previous week and 94% from the prior 4-week average. The primary destinations were China (63,500 RB), Turkey (30,300 RB), Mexico (12,300 RB), Indonesia (10,100 RB), and South Korea (9,500 RB).
Comments and Performance Indicators
Export commitments are 19% behind year-ago compared to 18% behind the week prior. USDA projects exports in 2013-14 to be 20.2% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

<​b><​b>2013: 10,100 MT<​/b><​/strong>

Weekly Sales Details
Net sales of 10,100 MT for 2013 were reported for Japan (2,800 MT), Hong Kong (2,200 MT), Mexico (1,600 MT), Canada (1,300 MT), and South Korea (1,100 MT). Net sales of 9,300 MT for 2014 were for Japan (6,500 MT), Hong Kong (1,000 MT), and South Korea (800 MT).
Weekly Export Details
Exports of 14,100 MT were primarily to Hong Kong (3,000 MT), Mexico (2,900 MT), Japan (2,900 MT), South Korea (2,500 MT), and Canada (1,700 MT).
Comments and Performance Indicators
Exports compare to 11,700 MT the week before. USDA projects exports in 2013 to be 2.1% above last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 5,300 MT<​/b>
Weekly Sales Details
Net sales of 5,300 MT for 2013 were reported for South Korea (1,300 MT), Japan (1,200 MT), Mexico (800 MT), Canada (800 MT), and the United Kingdom (200 MT).
Weekly Export Details
Exports of 12,700 MT were primarily to Mexico (4,700 MT), South Korea (1,900 MT), Japan (1,700 MT), Hong Kong (1,300 MT), and Canada (1,100 MT).
Comments and Performance Indicators
Exports compare to 9,900 MT the week prior. USDA projects exports in 2013 to be 7.6% below last year's total.

Link to USDA report.

 


 

 

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