Corn & Wheat Export Sales Top 1 MMT

July 11, 2013 02:58 AM
 

The Weekly Export Sales Report for the week ended July 4, 2013, corn and wheat export sales reflected some value buying after the recent price break, as both totals surged compared to recent weeks to top the 1 MMT (by a wide margin for wheat). Soybean export sales were far less impressive, but the net total still met expectations. Cotton export sales were again light. Beef export sales improved from week-ago, while pork export sales fell from the week prior.

USDA Weekly Export Sales Report
Week Ended July 4, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 1,049,800 MT
2012-13: 392,0​00 MT
2013-14: 657,800 MT

Trade Expectations

300,000 to 600,000 MT

Weekly Sales Details

Net sales of 392,000 MT for 2012-13 were up 68% from the previous week and up noticeably from the prior 4-week average. Increases for Japan (178,500 MT), Mexico (115,100 MT), Venezuela (58,000 MT, including 32,000 MT switched from Brazil), Taiwan (32,200 MT), Colombia (15,100 MT), and unknown destinations (14,600 MT), were partially offset by decreases for Brazil (32,000 MT). Net sales of 657,800 MT for 2013-14 were primarily for Mexico (352,300 MT), unknown destinations (158,000 MT), and China (122,500 MT).

Weekly Export Details

Exports of 265,800 MT were down 25% from the previous week, but unchanged from the prior 4-week average. The primary destinations were Mexico (117,500 MT), Japan (87,000 MT), Venezuela (26,000 MT), and Jamaica (15,700 MT).

Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are 53% behind year ago compared to 53% behind last week. USDA projects exports in 2012-13 to be 54.6% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2013-14: 1,473,300 MT
Trade Expectations
600,000 to 1,000,000 MT
Weekly Sales Details
Net sales of 1,473,300 MT for delivery in the 2013-14 marketing year were primarily for China (1,023,700 MT), Brazil (179,300 MT), Mexico (58,700 MT), Indonesia (57,800 MT), and Peru (56,500 MT, including 25,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (77,500 MT), Canada (20,400 MT), Japan (18,400 MT), and Barbados (5,000 MT).
Weekly Export Details

Exports of 714,700 MT were primarily to Brazil (189,300 MT), China (174,800 MT), Mexico (64,500 MT), Indonesia (57,800 MT), Yemen (54,700 MT), Chile (31,500 MT), and Peru (27,500 MT).

Comments and Performance Indicators

Sales were well above expectations. Export commitments for the 2013-14 marketing year are running 43% ahead of year-ago, compared to 28% ahead last week. USDA projects exports in 2013-14 to be down 3.5% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 339,000 MT
2012-13: -70,900 MT
2013-14: 410,800 MT
Trade Expectations
150,000 to 500,000 MT
Weekly Sales Details
Net sales reductions of 70,900 MT for 2012-13 resulted as increases for Thailand (6,100 MT), Vietnam (6,100 MT), Taiwan (5,100 MT), Indonesia (3,900 MT), and China (2,500 MT), were more than offset by decreases for Mexico (58,000 MT) and unknown destinations (38,300 MT). Net sales of 410,800 MT for 2013-14 were primarily for China (295,000 MT) and unknown destinations (102,300 MT).
Weekly Export Details
Exports of 77,400 MT--a marketing-year low--were down 33% from the previous week and 45% from the prior 4-week average. The primary destinations were Mexico (42,400 MT), Japan (15,100 MT), Taiwan (6,300 MT), Indonesia (4,900 MT), and Barbados (3,600 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are running 3% behind year-ago compared to 2% behind year-ago last week. USDA projects exports in 2012-13 to be 2.3% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
Combined: 44,600 MT
2012-13: 33,700
MT
2013-14: 10,900 MT
<​/b>
Trade Expectations
75,000 to 150,000 MT
Weekly Sales Details
Net sales of 33,700 MT for 2012-13 resulted as increases for Venezuela (47,800 MT, including 21,900 MT switched from unknown destinations), the Philippines (8,600 MT), Columbia (6,600 MT, including 1,500 MT switched from Nicaragua), Canada (5,300 MT), Belgium (3,500 MT), and Mexico (2,700 MT), were partially offset by decreases for Trinidad (22,500 MT), unknown destinations (21,900 MT), and Nicaragua (1,500 MT). Net sales of 10,900 MT for 2013-14 were for Canada (7,700 MT), the Dominican Republic (2,000 MT), and Nicaragua (1,200 MT).
Weekly Export Details
Exports of 99,800 MT were up 16% from the previous week, but down 11% from the prior 4-week average. The primary destinations were Venezuela (23,800 MT), Mexico (20,300 MT), Morocco (19,600 MT), Colombia (11,800 MT), and Canada (10,400 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 23% ahead of last year's pace compared to 24% ahead of year-ago last week. USDA projects exports in 2012-13 to be 4.9% ahead of the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b><​strong> 2012-13: 2,300 MT<​/b>

Trade Expectations
0 MT to 10,000 MT
Weekly Sales Details
Net sales reductions of 2,300 MT for 2012-13 resulted as increases for Singapore (100 MT), were more than offset by decreases for Mexico (1,800 MT) and Canada (600 MT).
Weekly Export Details
Exports of 21,400 MT were up noticeably from the previous week and from the prior 4-week average. The primary destinations were Germany (20,000 MT), Canada (800 MT), Mexico (400 MT), and Singapore (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 69% ahead of year-ago, compared to 82% ahead last week. USDA projects exports in 2012-13 to be 50.3% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 90,700 RB
2012-13: 32,700 RB
2013-14: 58,00 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 32,700 running bales for 2012-13--a marketing-year low--were down 5% from the previous week and 50% from the prior 4-week average. Increases were reported for China (14,400 RB, including 400 RB switched from South Korea and decreases of 2,400 MT), Vietnam (9,000 RB), South Korea (4,400 RB), Hong Kong (4,200 RB), and Taiwan (3,300 RB). Decreases were reported for Thailand (8,000 RB) and Japan (300 RB). Net sales of 58,000 RB for 2013-14 were reported primarily for Mexico (20,100 RB), Vietnam (11,800 RB), Thailand (6,800 RB), and Turkey (6,600 RB).
Weekly Export Details
Exports of 127,500 RB were down 35% from the previous week and 32% from the prior 4-week average. The primary destinations were China (27,200 RB), Turkey (18,500 RB), Mexico (13,900 RB), South Korea (13,500 RB), and Bangladesh (11,300 RB).
Comments and Performance Indicators
Export commitments are 6% ahead of year-ago compared to 6% ahead with year-ago last week. USDA projects exports in 2012-13 to be 16.1% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
201​3: 14,600 MT
Weekly Sales Details
Net sales of 14,600 MT for 2013 were primarily for Japan (6,500 MT), Mexico (2,100 MT), Canada (1,900 MT), South Korea (1,600 MT), and Taiwan (1,200 MT).
Weekly Export Details
Exports of 13,100 MT were down 16% from the previous week and 15% from the prior 4-week average. The primary destinations were Japan (3,900 MT), Hong Kong (2,500 MT), Mexico (2,200 MT), Canada (2,100 MT), and South Korea (1,300 MT).
Comments and Performance Indicators
Exports compare to 12,400 MT last week. USDA projects exports in 2013 to be 5.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 6,400 MT
Weekly Sales Details
Net sales of 6,400 MT for 2013 were primarily for Japan (1,600 MT), Hong Kong (1,400 MT), Mexico (800 MT), Canada (500 MT), and China (500 MT).
Weekly Export Details
Exports of 8,000 MT were primarily to Mexico (2,600 MT), Japan (1,200 MT), Canada (1,100 MT), Hong Kong (1,000 MT), and Australia (300 MT).
Comments and Performance Indicators
Exports compare to 10,000 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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