Corn & Wheat Export Sales Fail to Impress, Soybeans Within Expectations

December 5, 2013 03:25 AM
 

The Weekly Export Sales Report for the week ended Nov. 28, show corn sales fell below expectations with no movement for the 2014-15 crop on the week. Wheat sales also fell well below expectations but remain ahead of the prior year, and soybean export sales were at the high end of expectations with strong sales to an unknown destination leading export sales.

USDA Weekly Export Sales Report
Week Ended Nov. 28, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 593,600

<​b><​strong>2013-14: 593,600 MT​<​/b>

2014-15: 00 MT

Trade Expectations

850,000 MT to 950,000 MT

Weekly Sales Details

Net sales of 593,600 MT for 2013/2014 marketing year were reported for China (362,600 MT, including 306,000 MT switched from unknown destinations and decreases of 4,000 MT), South Korea (123,000 MT, including 60,000 MT switched from unknown destinations), Cuba (100,000 MT), Mexico (62,100 MT), Japan (34,000 MT), and Peru (30,000 MT). Decreases were reported for unknown destinations (158,800 MT) and Guatemala (1,900 MT).

Weekly Export Details

Exports of 1,042,100 MT were primarily to China (587,900 MT), Mexico (172,400 MT), Japan (130,200 MT), South Korea (66,900 MT), and Guatemala (20,900 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the 2013-14 marketing year are running 113% ahead of year-ago, which compares to 109% ahead of year ago the week before. USDA projects exports in 2013-14 to be 91.5% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​b>2013-14: 229,200 MT<​/strong>​<​/strong><​/b>
Trade Expectations
450,000 MT to 550,000 MT
Weekly Sales Details
Net sales of 229,200 MT--a marketing-year low--were reported for the 2013/2014 marketing year. Increases were reported for Thailand (65,700 MT, including 60,000 MT switched from unknown destinations), Japan (44,200 MT), Mexico (38,700 MT), the Philippines (31,000 MT), and Colombia (13,600 MT), were partially offset by decreases for Jamaica (9,100 MT), unknown destinations (4,700 MT), Germany (1,400 MT), and Brazil (1,300 MT).
Weekly Export Details
Exports of 369,400 MT were primarily to Thailand (65,700 MT), Nigeria (65,300 MT), China (62,500 MT), Taiwan (42,900 MT), and Brazil (32,100 MT).
Comments and Performance Indicators

Sales were well below expectations. Export commitments for the 2013-14 marketing year are running 37% ahead of year-ago, compared to 38% 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: 1,160,800 MT

<​b><​strong><​strong>2013-14: 805,200 MT​<​/b><​/strong>

2014-15: 355,600 MT

Trade Expectations
900,000 MT to 1,200,000 MT
Weekly Sales Details
Net sales of 805,200 MT for 2013/2014 marketing year were reported for unknown destinations (298,500 MT), Spain (132,100 MT), Mexico (86,600 MT), the Netherlands (75,200 MT, including 70,000 MT switched from unknown destinations), and Thailand (66,100 MT, including 60,000 MT switched from China). Decreases were reported for Canada (11,200 MT). Net sales of 355,600 MT for 2014/2015 were reported for unknown destinations (175,000 MT), China (170,000 MT), and Mexico (10,600 MT).
Weekly Export Details
Exports of 1,878,100 MT were primarily to China (1,420,100 MT), Thailand (87,600 MT), the Netherlands (75,200 MT), Spain (72,100 MT), Japan (39,200 MT), and Taiwan (37,800 MT).
Comments and Performance Indicators

Sales nearly exceeded expectations. Export commitments for the new marketing year are running 32% ahead of year-ago compared to 35% ahead the week prior. USDA projects exports in 2013-14 to be 9.8% above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
2013-14: 120,400 MT
Trade Expectations
250,000 MT to 300,000 MT
Weekly Sales Details
Net sales of 120,400 MT for 2013/2014 were reported for Mexico (41,200 MT), Denmark (39,000 MT, including 40,000 MT switched from unknown destinations and decreases of 1,000 MT), Poland (25,600 MT, including 19,000 MT switched from unknown destinations), and Israel (12,000 MT). Decreases were reported for unknown destinations (34,000 MT) and the Dominican Republic (2,500 MT). Net sales of 10,500 MT for 2014/2015 were reported for Mexico.
Weekly Export Details
Exports of 317,900 MT were primarily to the Philippines (104,300 MT), Vietnam (50,100 MT), Denmark (39,000 MT), Poland (25,600 MT), and Canada (17,000 MT).
Comments and Performance Indicators
Sales were far below expectations. Export commitments for 2013-14 are running 15% ahead of last year's pace, compared to 24% 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)

<​b><​strong><​b>2013-14: 1,400 MT<​/strong><​/strong><​/b>​<​/strong>

Trade Expectations
20,000 MT to 40,000 MT
Weekly Sales Details
Net sales of 1,400 MT for 2013/2014 resulted as increases for the Dominican Republic (4,600 MT, switched from unknown destinations), Mexico (1,300 MT), and Nicaragua (400 MT). Decreases were reported for unknown destinations (4,600 MT) and Canada (400 MT).
Weekly Export Details
Exports of 29,000 MT were primarily to China (20,000 MT), the Dominican Republic (4,600 MT), Mexico (3,200 MT), and Canada (600 MT).
Comments and Performance Indicators
Sales were well below expectations. Export commitments for the new marketing year are 55% behind compared to 53% behind year-ago last week. USDA in September projected exports in 2013-14 to be 47.7% behind the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
<​b><​strong><​b><​b><​strong>Combined: 266,600 RB
2013-14: 248,​600 RB
2014-15:
18,000 RB
<​/b>
​<​/b>​<​/strong>​<​/b>
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 248,600 RB for 2013/2014 were reported for Turkey (114,700 RB), China (51,400 RB), Indonesia (31,900 RB, including 200 RB switched from Japan), Brazil (21,700 RB), and Peru (8,800 RB). Decreases were reported for El Salvador (1,200 RB). Net sales of 18,000 RB for 2014/2015 were reported for Turkey.
Weekly Export Details
Exports of 106,500 RB were primarily to China (48,900 RB), Mexico (8,900 RB), Turkey (8,000 RB), Indonesia (6,700 RB), and Vietnam (4,600 RB).
Comments and Performance Indicators
Export commitments are 18% behind year-ago compared to 17% 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)

Combined: 11,700 MT

2013: 11,500 MT​​<​/strong>

2014: 200 MT

Weekly Sales Details
Net sales of 11,500 MT for 2013 were reported for South Korea (2,600 MT), Hong Kong (2,400 MT), Mexico (2,300 MT), Japan (2,000 MT), and Canada (1,300 MT). Net sales of 200 MT for 2014 resulted as increases for Hong Kong (500 MT), Mexico (400 MT), Taiwan (300 MT), and South Korea (100 MT), were more than offset by decreases for Japan (1,200 MT).
Weekly Export Details
Exports of 12,500 MT were primarily to Japan (3,100 MT), Hong Kong (2,700 MT), Mexico (2,600 MT), South Korea (1,800 MT), and Canada (1,300 MT).
Comments and Performance Indicators
Exports compare to 9,500 MT the week before. USDA projects exports in 2013 to be 0.2% above last year's total.

Pork

Actual Sales (in metric tons -- MT)
2013: 9,900 MT
Weekly Sales Details
Net sales of 9,900 MT for 2013 were primarily for Mexico (3,600 MT), South Korea (2,500 MT), Japan (700 MT), Australia (700 MT), and Canada (500 MT). Exports of 9,700 MT were reported to Mexico (3,600 MT), South Korea (1,300 MT), Canada (1,200 MT), Japan (1,200 MT), and Hong Kong (600 MT).
Weekly Export Details
Exports of 9,700 MT were reported to Mexico (3,600 MT), South Korea (1,300 MT), Canada (1,200 MT), Japan (1,200 MT), and Hong Kong (600 MT).
Comments and Performance Indicators
Exports compare to 8,700 MT the week prior. USDA projects exports in 2013 to be 6.1% below last year's total.

Link to USDA report.

 


 

 

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