Corn & Soybean Export Sales to Start New Marketing Year Fall Short

September 12, 2013 03:00 AM
 

The Weekly Export Sales Report for the week ended Sept. 5, 2013, showed corn and soybean export sales falling short of expectations, while wheat export sales were again solid and within expectations. Cotton export sales were strong, as were beef export sales. Pork export sales improved from last week's light total.

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

Corn

Actual Sales (in metric tons -- MT)

Combined: 273,200 MT
2012-13: -59,400 MT
2013-14: 332,600 MT

Trade Expectations

400,000 to 500,000 MT

Weekly Sales Details

Net sales of 332,600 MT for the 2013-14 marketing year (which began Sept. 1) were primarily for Mexico (181,200 MT), Japan (44,300 MT, including 29,600 MT switched from unknown destinations and decreases of 4,500 MT), Costa Rica (31,600 MT, including 3,000 MT switched from El Salvador), Peru (30,000 MT), Venezuela (20,000 MT, including 10,000 MT switched from Colombia), and unknown destinations (8,800 MT). Decreases were reported for El Salvador (4,100 MT). Net sales reductions of 59,400 MT for delivery in 2012-13 resulted as increases for Japan (24,900 MT, including 46,500 MT switched from unknown destinations and decreases of 21,600 MT), Jamaica (400 MT), and Hong Kong (100 MT), were more than offset by decreases for unknown destinations (46,500 MT), Mexico (21,600 MT), and Taiwan (16,700 MT). A total of 876,100 MT in sales were outstanding on Aug. 31 (the end of the 2012-13 marketing year) and carried over to the 2013-14 marketing year.

Weekly Export Details

Exports of 64,700 MT were reported for August 31. The primary destinations were Japan (46,500 MT) and Mexico (11,100 MT). Accumulated exports for the 2012-13 marketing year were 18,044,200 MT, down 52% from the prior year’s total of 37,914,800 MT. Exports for September 1-5 of 171,200 MT were primarily for Japan (77,700 MT), Mexico (54,800 MT), Guatemala (12,200 MT), and Venezuela (10,000 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the 2013-14 marketing year are running 27% ahead of year ago. USDA projects exports in 2013-14 to be 71.3% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 551,900 MT
2013-14: 543,900 MT
2014-15: 8,000 MT
Trade Expectations
450,000 to 650,000 MT
Weekly Sales Details
Net sales of 543,900 MT for delivery in the 2013-14 marketing year were down 19% from the previous week and 1% from the prior 4-week average. Increases were reported for Brazil (210,800 MT, including 50,000 MT switched from unknown destinations), the Philippines (103,500 MT, including 45,000 MT switched from unknown destinations), Nigeria (97,500 MT), South Korea (51,100 MT), Chile (36,900 MT), and Mexico (36,300 MT). Decreases were reported for unknown destinations (60,900 MT). Net sales of 8,000 MT for 2014-15 were for Mexico (5,500 MT) and Malaysia (2,500 MT).
Weekly Export Details
Exports of 911,900 MT were down 5% from the previous week, but up 9% from the prior 4-week average. The primary destinations were China (300,800 MT), Brazil (176,800 MT), the Philippines (128,500 MT), South Korea (54,500 MT), Taiwan (53,300 MT), Mexico (47,800 MT), and Japan (42,100 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 38% ahead of year-ago, compared to 38% ahead last week. USDA projects exports in 2013-14 to be up 9.2% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
2013-14: 478,100 MT
Trade Expectations
650,000 to 800,000 MT
Weekly Sales Details
Net sales of 478,100 MT for the 2013-14 marketing year (which began Sept. 1) were primarily for China (205,000 MT), unknown destinations (73,900 MT), Indonesia (43,300 MT, including 24,100 MT switched from unknown destinations), Costa Rica (41,000 MT), and Mexico (37,500 MT). A total of 928,500 MT in sales were outstanding on August 31 (the end of the 2012-13 marketing year) and carried over to the 2013-14 marketing year.
Weekly Export Details
Exports of 22,900 MT were reported for August 31. The primary destinations were Venezuela (12,000 MT), Cuba (4,600 MT), Japan (2,900 MT), and Taiwan (1,100 MT). Accumulated exports for the 2012-13 marketing year were 36,243,000 MT, down 1% from the prior year’s total of 36,739,200 MT. Exports of 60,100 MT were reported for September 1-5. The primary destinations were Indonesia (37,700 MT), South Korea (10,500 MT), Malaysia (3,100 MT), Taiwan (2,900 MT), and Vietnam (2,400 MT).
Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are running 6% ahead of year-ago. USDA projects exports in 2013-14 to be 5.3% above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
<​strong>Combined: 128,000 MT
2012-13:
17,000 MT
2013-14: 111,700 MT
Trade Expectations
70,000 to 230,000 MT
Weekly Sales Details
Net sales of 17,000 MT for 2012-13 resulted as increases for Canada (12,600 MT), Venezuela (9,000 MT, including 10,000 MT switched from Colombia and decreases of 1,000 MT), Guatemala (2,100 MT, switched from El Salvador), the Philippines (1,500 MT), and Japan (1,400 MT), were partially offset by decreases for Colombia (10,000 MT) and El Salvador (2,900 MT). Net sales of 111,700 MT for 2013-14 were primarily for unknown destinations (40,000 MT), Denmark (24,000 MT), Mexico (23,100 MT), and Colombia (12,500 MT). Decreases were reported for Hong Kong (100 MT).
Weekly Export Details
Exports of 102,200 MT were down 36% from the previous week and 8% from the prior 4-week average. The primary destinations were Mexico (24,300 MT), Canada (22,600 MT), Venezuela (18,000 MT), Turkey (17,600 MT), and El Salvador (7,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 16% ahead of last year's pace compared to 17% ahead of year-ago last week. USDA projects exports in 2012-13 to be up 11.9% from the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)
Combined: 6,200 MT
2012-13: 1,700 MT
2013-14: 4,500 MT
Trade Expectations
10,000 MT to 20,000 MT
Weekly Sales Details
Net sales of 1,700 MT for 2012-13 were primarily for Mexico (1,200 MT), Canada (100 MT), and Trinidad (100 MT). Net sales of 4,500 MT for 2013-14 were reported for Mexico.
Weekly Export Details
Exports of 30,400 MT were up noticeably from the previous week and from the prior 4-week average. The primary destinations were Germany (20,000 MT), Norway (5,000 MT), and Mexico (4,700 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments for the new marketing year are 50% ahead of year-ago, compared to 53% ahead last week. USDA projects exports in 2012-13 to be 46.9% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 154,200 RB
2013-14: 134,400 RB
2014-15: 19,800 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 134,400 RB for 2013-14 were primarily for China (57,100 RB), Turkey (32,900 RB), Peru (10,100 RB), Thailand (6,500 RB), and Mexico (5,500 RB). Net sales of 19,800 RB for 2014-15 were reported for Turkey.
Weekly Export Details
Exports of 123,500 RB were primarily to Vietnam (26,300 RB), China (25,700 RB), Mexico (20,300 RB), Turkey (20,100 RB), and Indonesia (6,200 RB).
Comments and Performance Indicators
Export commitments are 23% behind year-ago compared to 20% behind year-ago last week. USDA projects exports in 2013-14 to be 19.1% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

2013: 18,900 MT

Weekly Sales Details
Net sales of 18,900 MT for 2013 were primarily for Hong Kong (12,400 MT), Mexico (1,600 MT), Japan (1,300 MT), Canada (1,200 MT), and South Korea (1,000 MT).
Weekly Export Details
Exports of 11,800 MT were down 18% from the previous week and 19% from the prior 4-week average. The primary destinations were Japan (3,000 MT), Hong Kong (2,300 MT), Mexico (2,100 MT), South Korea (1,800 MT), and Canada (1,200 MT).
Comments and Performance Indicators
Exports compare to 17,900 MT last week. USDA projects exports in 2013 to be 3.7% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
2013: 7,300 MT​<​/td>
Weekly Sales Details
Net sales of 7,300 MT for 2013 were primarily for Japan (2,000 MT), Ukraine (1,100 MT), South Korea (900 MT), Australia (800 MT), and Mexico (800 MT).
Weekly Export Details
Exports of 7,900 MT were up 10% from the previous week, but down 20% from the prior 4-week average. The primary destinations were Mexico (2,300 MT), Ukraine (1,100 MT), Japan (1,000 MT), Australia (900 MT), and Canada (900 MT).
Comments and Performance Indicators
Exports compare to 4,600 MT last week. USDA projects exports in 2013 to be 6.6% below last year's total.

Link to USDA report.

 


 

 

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