Corn & Wheat Export Sales Impress, Soybeans & Meal Miss Expectations

December 19, 2013 02:35 AM
 

 

The Weekly Export Sales Report for the week ended Dec. 12, reflected strong sales for corn with unknown destinations, China and Mexico the top three buyers. Wheat sales also exceeded expectations with increases reported for Japan, Nigeria and Mexico. Soybeans and soymeal fell below expectations but soyoil managed to fall within expectations. Beef sales fell behind the previous week, but pork sales were strong.

USDA Weekly Export Sales Report
Week Ended Dec. 12, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 872,300 MT

<​b>2013-14: 827,100 MT<​/b>
2014-15: 45,200 MT

Trade Expectations

550,000 MT to 750,000 MT

Weekly Sales Details

Net sales of 827,100 MT for 2013/2014 were up 19 percent from the previous week and 2 percent from the prior 4-week average. Increases were reported for unknown destinations (238,700 MT), Mexico (135,100 MT), China (124,000 MT, including 180,000 MT switched from unknown destinations, 60,000 MT switched to South Korea, and decreases of 4,700 MT), Taiwan (99,300 MT), South Korea (62,400 MT, including 60,000 MT switched from China), and the Dominican Republic (59,000 MT). Decreases were reported for Guatemala (10,100 MT). Net sales of 45,200 MT for 2014/2015 were reported for Japan.

Weekly Export Details

Exports of 693,400 MT were down 29 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were China (245,500 MT), Mexico (115,700 MT), Colombia (88,100 MT), South Korea (63,000 MT), Japan (54,700 MT), and Peru (45,800 MT).

Comments and Performance Indicators

Sales topped expectations. Export commitments for the 2013-14 marketing year are running 118% ahead of year-ago, which compares to 114% 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)

Combined: 659,100 MT

2013-14: 656,100 MT<​/strong><​/strong>

2013-14: 656,100
2014-15: 3,000

Trade Expectations
300,000 MT to 400,000 MT
Weekly Sales Details
Net sales of 656,100 MT for delivery during the 2013/2014 marketing year were up 76 percent from the previous week and 47 percent from the prior 4-week average. Increases reported for Japan (129,400 MT), Nigeria (110,000 MT), Mexico (103,900 MT), Brazil (50,500 MT, including 25,000 MT switched from unknown destinations), and South Korea (42,700 MT), were partially offset by decreases for Panama (2,800 MT) and China (2,600 MT). Net sales of 3,000 MT for 2014/2015 were reported for Mexico.
Weekly Export Details
Exports of 376,500 MT were down 33 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were Japan (74,000 MT), Brazil (69,400 MT), China (52,400 MT), Israel (36,300 MT), and Mexico (29,600 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the 2013-14 marketing year are running 34% ahead of year-ago, compared to 35% 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: 495,700 MT

<​b>2013-14: 415,500 MT<​/b>

2013-14: 415,500 MT
2014-15: 80,200 MT

Trade Expectations
700,000 MT to 900,000 MT
Weekly Sales Details
Net sales of 415,500 MT for 2013/2014--a marketing-year low--were down 63 percent from the previous week and 64 percent from the prior 4-week average. Increases were reported for China (306,400 MT, including 222,800 MT switched from unknown destinations and decreases of 72,300 MT), the Netherlands (219,100 MT, including 200,000 MT switched from unknown destinations), Spain (122,800 MT, including 65,000 MT switched from unknown destinations and 56,400 MT switched from China), Indonesia (122,100 MT, including 59,900 MT switched from unknown destinations and decreases of 5,400 MT), and Mexico (86,700 MT). Decreases were reported for unknown destinations (576,300 MT). Net sales of 80,200 MT for 2014/2015 were reported for China (55,000 MT), Japan (11,100 MT), unknown destinations (9,200 MT), and Hong Kong (5,000 MT).
Weekly Export Details
Exports of 1,569,200 MT were down 8 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were China (899,900 MT), the Netherlands (219,100 MT), Spain (122,800 MT), Indonesia (83,500 MT), Egypt (64,100 MT), and Mexico (42,800 MT). NOTE: Accumulated exports were adjusted down 74,800 MT for the Netherlands.
Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are running 29% 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)

2013-14:<​b> 77,100 MT


Trade Expectations
150,000 MT to 300,000 MT
Weekly Sales Details
Net sales of 77,100 MT for 2013/2014--a marketing-year low--were reported for Mexico, (54,100 MT), France (32,900 MT, including 30,000 MT switched from unknown destinations), the Philippines (24,900 MT), the Dominican Republic (20,100 MT), and Colombia (14,400 MT, including 6,000 MT switched from unknown destinations and decreases of 1,400 MT). Decreases were reported for unknown destinations (102,500 MT) and Guatemala (4,200 MT).
Weekly Export Details
Exports of 263,100 MT were down 21 percent from the previous week and 6 percent from the prior 4-week average. The primary destinations were the Philippines (102,200 MT), France (32,900 MT), Canada (27,400 MT), the Dominican Republic (27,300 MT), and Colombia (25,600 MT).
Comments and Performance Indicators
Sales were well below expectations. Export commitments for 2013-14 are running 5% ahead of last year's pace, compared to 12% 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>2013-14: 27,000 MT<​/b>

<​b><​strong><​strong>013-14: 415,500 MT<​/b><​/strong>

2013-14: 27,000 MT

Trade Expectations
10,000 MT to 30,000 MT
Weekly Sales Details
Net sales of 27,000 MT for 2013/2014 were up noticeably from the previous week, but down 9 percent from the prior 4-week average. Increases were reported for Canada (16,400 MT), Colombia (4,000 MT), Mexico (3,300 MT), and Malaysia (3,000 MT).
Weekly Export Details
Exports of 14,100 MT were down 52 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were the Dominican Republic (7,800 MT), Mexico (5,000 MT), Canada (1,000 MT), and the Philippines (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 56% behind compared to 52% 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)
<​b><​strong>Combined: 24​<​/strong>

Combined: 242,600 RB

2013-14: 415,500 MT​<​/b>

2013-14: 236,000 RB
2014-15:
6,600 RB

<​b>2,600 RB 2013-14: 236,000 RB 2014-15: 6,600 RB<​/b>
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 236,000 RB for 2013/2014 were up 36 percent from the previous week, but down 5 percent from the prior 4-week average. Increases were reported for Turkey (80,400 RB), China (26,600 RB), South Korea (26,500 RB), and Colombia (25,400 RB, including 15,800 RB switched from Mexico). Decreases were reported for Mexico (12,100 RB). Net sales of 6,600 RB for 2014/2015 were reported for Turkey.
Weekly Export Details
Exports of 150,400 RB were down 9 percent from the previous week, but up 37 percent from the prior 4-week average. The primary destinations were China (45,200 RB), Turkey (22,100 RB), Mexico (12,900 RB), Vietnam (11,500 RB), and Indonesia (11,300 RB).
Comments and Performance Indicators
Export commitments are 19% behind year-ago compared to 19% 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: 6,600 MT

<​strong><​strong>2013: 4,800 MT<​/b>

2014: 1,800 MT

Weekly Sales Details
Net sales of 4,800 MT for 2013 were down 52 percent from the previous week and 59 percent from the prior 4-week average. Increases were reported for Japan (1,300 MT), Mexico (1,100 MT), South Korea (800 MT), Hong Kong (600 MT), and Canada (500 MT). Net sales of 1,800 MT for 2014 were for South Korea (1,000 MT), Hong Kong (800 MT), and Mexico (400 MT).
Weekly Export Details
Exports of 11,100 MT were primarily to Japan (2,800 MT), Hong Kong (2,400 MT), South Korea (2,000 MT), Mexico (1,800 MT), and Canada (1,100 MT).
Comments and Performance Indicators
Exports compare to 10,100 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)
2013: 9,700 MT
Weekly Sales Details
Net sales of 9,700 MT for 2013 were up 84 percent from the previous week and 18 percent from the prior 4-week average. Increases were reported for Mexico (2,300 MT), South Korea (1,300 MT), Japan (1,100 MT), Hong Kong (1,000 MT), and Australia (900 MT).
Weekly Export Details
Exports of 12,100 MT were primarily to Mexico (4,300 MT), South Korea (1,600 MT), Canada (1,300 MT), Japan (1,200 MT), and Hong Kong (700 MT).
Comments and Performance Indicators
Exports compare to 5,300 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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