Corn & Wheat Export Sales Slow, Soymeal & Pork Movement Improves

February 21, 2014 02:54 AM
 

 

 

The Weekly Export Sales Report for the week ended Feb. 13, 2014, reflect a decline in corn and wheat sales with Japan as the lead buyer for both. Soybean sales were buoyed by strong 2014/2015 sales to China at 476,000 MT, but sales of 2013/14 soybeans were also brisk in the Netherlands, Mexico and Indonesia. Cotton, beef and soyoil all fell below the prior week's sales tallies while soymeal and pork export sales improved noticeably.

USDA Weekly Export Sales Report
Week Ended Feb. 13, 2014

Corn

Actual Sales (in metric tons -- MT)

Combined: 691,400 MT

<​b><​strong>2013-14: 691,400 MT<​/b>

2014-15: 00 MT

Trade Expectations

700,000 MT to 1,250,000 MT

Weekly Sales Details

Net sales of 691,400 MT for 2013/2014 were down 46 percent from the previous week and 50 percent from the prior 4-week average. Increases were reported for Japan (454,100 MT, including 156,100 MT switched from unknown destinations), Peru (99,300 MT, including 62,000 MT switched from unknown destinations), Egypt (74,800 MT, including 18,000 MT switched from unknown destinations), Venezuela (46,000 MT, including 5,000 MT switched from unknown destinations), and Guatemala (30,200 MT). Decreases were reported for unknown destinations (127,500 MT), China (18,800 MT), and the Dominican Republic (8,800 MT).

Weekly Export Details

Exports of 745,000 MT were down 22 percent from the previous week and 15 percent from the prior 4-week average. The primary destinations were Japan (330,200 MT), Mexico (146,700 MT), Peru (99,300 MT), South Korea (60,600 MT), and Colombia (29,600 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the 2013-14 marketing year are running 148 percent ahead of year-ago, which compares to 149 percent ahead of year ago the week before. USDA projects exports in 2013-14 to be 118.9 percent above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)

Combined: 491,500 MT

<​strong><​b><​strong>2013-14:<​b> 424,500 MT<​/strong><​/strong><​/b>

2014-15: 67,000 MT

Trade Expectations
400,000 MT to 700,000 MT
Weekly Sales Details
Net sales of 424,500 MT for delivery during the 2013/2014 marketing year were down 29 percent from the previous week and from the prior 4-week average. Increases were reported for Japan (148,400 MT), unknown destinations (89,100 MT), the Philippines (78,000 MT), Uruguay (50,000 MT), and Colombia (23,300 MT). Decreases were reported for Egypt (27,000 MT) and Honduras (8,300 MT). Net sales of 67,000 MT for 2014/2015 were reported for unknown destinations (40,000 MT), Nicaragua (24,000 MT), and China (3,000 MT).
Weekly Export Details
Exports of 277,300 MT--a marketing-year low--were down 31 percent from the previous week and 29 percent from the prior 4-week average. The primary destinations were Brazil (60,000 MT), Japan (55,800 MT), South Korea (33,000 MT), Mexico (32,500 MT), and Nigeria (30,500 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 24 percent ahead of year-ago, compared to 26 percent ahead the week prior. USDA projects exports in 2013-14 to be up 16.7 percent compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)

Combined: 835,400 MT

<​strong><​strong>2013-14:<​b> 86,300 MT<​/strong><​/strong>

2014-15: 749,100 MT

Trade Expectations
150,000 MT to 500,000 MT
Weekly Sales Details
Net sales of 86,300 MT for 2013/2014 --a marketing-year low--resulted as increases for the Netherlands (150,100 MT, including 140,000 MT switched from unknown destinations), Mexico (131,600 MT), Indonesia (100,200 MT), Japan (87,000 MT, including 27,000 MT switched from unknown destinations), and Vietnam (13,800 MT), were partially offset by decreases for unknown destinations (268,500 MT) and China (145,600 MT). Net sales of 749,100 MT for 2014/2015 were reported for China (476,000 MT), unknown destinations (180,000 MT), Mexico (69,100 MT), and Japan (24,000 MT).
Weekly Export Details
Exports of 1,339,500 MT were down 10 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were China (881,800 MT), the Netherlands (150,100 MT), Vietnam (76,600 MT), Indonesia (74,300 MT), and Mexico (53,500 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 27 percent ahead of year-ago compared to 27 percent ahead the week prior. USDA projects exports in 2013-14 to be 14.4 percent above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

Combined: 292,500 MT

2013-14:<​b> 227,500 MT

2014-15: 65,000 MT

Trade Expectations
75,000 MT to 200,000 MT
Weekly Sales Details
Net sales of 227,500 MT were up noticeably from the previous week and 49 percent from the prior 4-week average. Increases were reported for Canada (80,500 MT), Poland (43,600 MT, including 40,000 MT switched from unknown destinations), Ecuador (37,100 MT), Panama (31,200 MT), Spain (19,100 MT), and Mexico (16,300 MT). Decreases were reported for unknown destinations (56,400 MT) and Italy (25,000 MT). Net sales of 65,000 MT for 2014/2015 were reported for unknown destinations.
Weekly Export Details
Exports of 252,600 MT were down 13 percent from the previous week and 23 percent from the prior 4-week average. The primary destinations were the Philippines (45,500 MT), Poland (43,600 MT), Spain (39,100 MT), Ecuador (37,100 MT), the Dominican Republic (18,400 MT), and Canada (17,000 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments for 2013-14 are running 3 percent ahead of last year's pace, compared to 3 percent ahead last week. USDA in September projected exports in 2013-14 will be down 1.9 percent from the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b><​strong>2013-14: 11,700 MT​<​/strong><​/b>

Trade Expectations
10,000 MT to 50,000 MT
Weekly Sales Details
Net sales of 11,700 MT for 2013/2014 were down 78 percent from the previous week and 56 percent from the prior 4-week average. Increases were reported for Mexico (6,400 MT), the Dominican Republic (4,800 MT), and unknown destinations (1,000 MT). Decreases were reported for Canada (600 MT).
Weekly Export Details
Exports of 24,300 MT were down 1 percent from the previous week and 10 percent from the prior 4-week average. The primary destinations were Morocco (15,000 MT), Mexico (4,000 MT), Guatemala (4,000 MT), and Canada (1,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 33 percent behind compared to 39 percent behind year-ago last week. USDA in September projected exports in 2013-14 to be 33.0 percent behind the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)

Combined: 274,200 MT

<​b><​strong>2013-14:<​strong> 70,500 MT<​/strong><​/b>​<​/strong>

2014-15: 203,700 MT

Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 70,500 RB for 2013/2014 were down 41 percent from the previous week and 78 percent from the prior 4-week average. Increases were reported for Mexico (44,200 RB), Turkey (13,400 RB), Peru (8,900 RB), South Korea (8,500 RB), and Taiwan (6,000 RB). Decreases were reported for Vietnam (12,100 RB), China (11,800 RB), and Singapore (4,200 RB). Net sales of 203,700 RB for 2014/2015 were reported for Mexico (58,000 RB), Morocco (53,000 RB), South Korea (36,000 RB), and Turkey (18,000 RB).
Weekly Export Details
Exports of 324,500 RB were down 4 percent from the previous week, but up 5 percent from the prior 4-week average. The primary destinations were Turkey (78,900 RB), China (71,400 RB), Vietnam (36,100 RB), Mexico (35,900 RB), and Indonesia (19,100 RB).
Comments and Performance Indicators
Export commitments are 8 percent behind year-ago compared to 14 percent behind the week prior. USDA projects exports in 2013-14 to be 19.4 percent behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2014: 9,900 MT
Weekly Sales Details
Net sales of 9,900 MT for 2014 were down 41 percent from the previous week and 19 percent from the prior 4-week average. Increases were reported for Hong Kong (3,900 MT), South Korea (3,200 MT), Mexico (2,200 MT), Canada (1,000 MT), and Taiwan (300 MT). Decreases were reported for Japan (1,200 MT) and Chile (100 MT).
Weekly Export Details
Exports of 11,500 MT were primarily to Japan (2,400 MT), Mexico (2,200 MT), Hong Kong (2,200 MT), South Korea (2,000 MT), and Canada (1,400 MT).
Comments and Performance Indicators
Exports compare to 16,600 MT the week before. USDA projects exports in 2014 to be 9.6 percent below last year's total.

Pork

Actual Sales (in metric tons -- MT)
2014: 16,000 MT
Weekly Sales Details
Net sales of 16,000 MT for 2014 were up 26 percent from the previous week and 50 percent from the prior 4-week average. Increases were reported for Japan (5,800 MT), Mexico (3,900 MT), Australia (2,100 MT), Canada (1,900 MT), and the Philippines (600 MT).
Weekly Export Details
Exports of 13,000 MT--a marketing-year high--were primarily to Mexico (5,100 MT), South Korea (2,300 MT), Japan (1,400 MT), Canada (1,100 MT), and Australia (700 MT).
Comments and Performance Indicators
Exports compare to 12,600 MT the week prior. USDA projects exports in 2014 to be 3.0 percent above last year's total.

Link to USDA report.

 


 

 

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