Corn Export Sales Surge, Bean, Wheat & Cotton Sales Also Impress

March 6, 2014 02:01 AM
 

The Weekly Export Sales Report for the week ended Feb. 27, 2014, reflected strong demand for nearly all categories. Corn, soybean, wheat and soymeal export sales topped expectations. Cotton export sales were also up sharply from recent weeks. While the soybean old-crop sales did include a minor cancellation to China, overall demand remains strong.

USDA Weekly Export Sales Report
Week Ended Feb. 27, 2014

Corn

Actual Sales (in metric tons -- MT)

Combined: 1,682,500 MT

<​b><​strong>2013-14: 1,518,000 MT<​/b>

2014-15: 164,500 MT

Trade Expectations

600,000 MT to 850,000 MT

Weekly Sales Details

Net sales of 1,518,000 MT for 2013-14 were up 81% from the previous week and 35% from the prior 4-week average. Increases were reported for Mexico (437,400 MT), Japan (342,400 MT, including 89,100 MT switched from unknown destinations and decreases of 1,500 MT), unknown destinations (207,100 MT), Colombia (179,400 MT), South Korea (134,300 MT, including 65,000 MT switched from China), and Taiwan (75,900 MT). Decreases were reported for China (71,500 MT), Spain (55,000 MT), and the French West Indies (9,000 MT). Net sales of 164,500 MT for 2014-15 were reported for Japan.

Weekly Export Details

Exports of 1,138,100 MT were up 33% from the previous week and 38% from the prior 4-week average. The primary destinations were South Korea (256,700 MT), Mexico (224,300 MT), Japan (190,600 MT), Egypt (135,000 MT), and Peru (83,300 MT).

Comments and Performance Indicators

Sales were well above expectations. Export commitments for the 2013-14 marketing year are running 159% ahead of year-ago, which compares to 148% ahead of year ago the week before. USDA projects exports in 2013-14 to be 118.9% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)

Combined: 600,500 MT

2013-14: 556,100 MT

2014-15: 44,400 MT

Trade Expectations
250,000 MT to 450,000 MT
Weekly Sales Details
Net sales of 556,100 MT for delivery during the 2013-14 marketing year were up 52% from the previous week and 10% from the prior 4-week average. Increases were reported for Mexico (213,100 MT), Brazil (93,100 MT), unknown destinations (63,600 MT), China (60,000 MT), Taiwan (53,400 MT), Chile (38,500 MT), and Vietnam (30,900 MT, including 28,600 MT switched from unknown destinations). Decreases were reported for Egypt (52,300 MT) and Nigeria (49,300 MT). Net sales of 44,400 MT for 2014-15 were reported for the Philippines (30,000 MT), Venezuela (6,500 MT), Mexico (5,000 MT), and Colombia (2,900 MT).
Weekly Export Details
Exports of 633,000 MT were up 16% from the previous week and 59% from the prior 4-week average. The primary destinations were Brazil (88,600 MT), the Philippines (68,800 MT), Egypt (57,800 MT), Taiwan (53,400 MT), and Mexico (48,200 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the 2013-14 marketing year are running 23% ahead of year-ago, compared to 24% ahead the week prior. USDA projects exports in 2013-14 to be up 16.7% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)

Combined: 1,029,400 MT

2013-14: 772,700 MT

2014-15: 256,700 MT

Trade Expectations
450,000 MT to 750,000 MT
Weekly Sales Details
Net sales of 772,700 MT for 2013-14 were up noticeably from the previous week and the prior 4-week average. Increases reported for unknown destinations (469,100 MT), Mexico (197,600 MT), Indonesia (82,100 MT, including 72,600 MT switched from unknown destinations and decreases of 9,400 MT), Germany (74,500 MT), and Spain (63,100 MT, including 65,000 MT switched from unknown destinations and decreases of 1,900 MT), were partially offset by decreases for China (268,300 MT). Net sales of 256,700 MT for 2014-15 were reported primarily for China (183,000 MT), Egypt (60,000 MT), and Spain (55,000 MT). Decreases were reported for unknown destinations (60,000 MT).
Weekly Export Details
Exports of 1,173,600 MT were down 35% from the previous week and 21% from the prior 4-week average. The primary destinations were China (645,000 MT), Indonesia (135,700 MT), Mexico (77,700 MT), Germany (74,500 MT), and Spain (63,100 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 27% ahead of year-ago compared to 26% ahead the week prior. USDA projects exports in 2013-14 to be 14.4% above the previous marketing year.

Soymeal

Actual Sales

Combined: 268,600 MT

<​strong>2013-14: 232,800 MT

2014-15: 35,800 MT

Trade Expectations
75,000 MT to 150,000 MT
Weekly Sales Details
Net sales of 232,800 MT were up noticeably from the previous week and 44% from the prior 4-week average. Increases were reported for Mexico (84,700 MT), Latvia (25,600 MT, including 24,000 MT switched from unknown destinations), Venezuela (25,000 MT), Canada (22,100 MT), Poland (16,000 MT, switched from unknown destinations), and Guatemala (14,800 MT, including 4,000 MT switched from unknown destinations). Decreases were reported for the French West Indies (4,200 MT). Net sales of 35,800 MT for 2014-15 were reported for Mexico (27,300 MT) and Canada (8,500 MT).
Weekly Export Details
Exports of 334,100 MT were up 21% from the previous week and 23% from the prior 4-week average. The primary destinations were Vietnam (50,000 MT), the Philippines (49,600 MT), Thailand (49,100 MT), Mexico (37,400 MT), Venezuela (32,000 MT), and Canada (30,700 MT).
Comments and Performance Indicators
Sales were well above expectations. Export commitments for 2013-14 are running 2% ahead of last year's pace, compared to 1% ahead last week. USDA in September projected exports in 2013-14 will be down 1.9% from the previous marketing year.

Soyoil

Actual Sales

2013-14: 16,900 MT

Trade Expectations
0 MT to 30,000 MT
Weekly Sales Details
Net sales of 16,900 MT for 2013-14 were up noticeably from the previous week, but down 27% from the prior 4-week average. Increases were reported for Canada (14,700 MT), the Dominican Republic (2,200 MT, including 1,900 MT switched from unknown destinations), Mexico (900 MT), and Peru (700 MT). Decreases were reported for unknown destinations (1,900 MT).
Weekly Export Details
Exports of 79,300 MT were up noticeably from the previous week and the prior 4-week average. The primary destinations were China (35,000 MT), Peru (22,800 MT), the Dominican Republic (11,900 MT), and Hong Kong (6,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 29% behind compared to 33% behind year-ago last week. USDA in September projected exports in 2013-14 to be 33.0% behind the previous marketing year.

Cotton

Actual Sales

Combined: 207,700 RB

 

2013-14: 159,500 RB

 

2014-15: 48,200 RB

Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 159,500 RB for 2013-14 were up noticeably from the previous week and 60% from the prior 4-week average. Increases were reported for China (46,100 RB, including 2,200 RB switched from Indonesia), Turkey (42,900 RB), Vietnam (27,600 RB), South Korea (8,600 RB), Japan (7,300 RB), and Thailand (6,100 RB). Net sales of 48,200 RB for 2014-15 were reported for Thailand (10,600 RB), Pakistan (9,200 RB), Peru (6,600 RB), and Turkey (6,400 RB). Decreases were reported for Indonesia (3,200 RB).
Weekly Export Details
Exports of 363,800 RB--a marketing-year high--were up 31% from the previous week and 12% from the prior 4-week average. The primary destinations were China (84,300 RB), Turkey (83,700 RB), Vietnam (38,800 RB), South Korea (22,600 RB), and Thailand (19,300 RB).
Comments and Performance Indicators
Export commitments are 8% behind year-ago compared to 6% behind the week prior. USDA projects exports in 2013-14 to be 19.4% behind of the previous marketing year.

Beef

Actual Sales
2014: 11,100 MT
Weekly Sales Details
Net sales of 11,100 MT for 2014 were down 5% from the previous week and 4% from the prior 4-week average. Increases were reported for Japan (3,300 MT), Hong Kong (2,300 MT), South Korea (1,400 MT), Mexico (1,200 MT), and Taiwan (800 MT).
Weekly Export Details
Exports of 11,500 MT were primarily to Japan (3,300 MT), Mexico (2,200 MT), South Korea (2,000 MT), Hong Kong (1,700 MT), Canada (1,000 MT), and Taiwan (500 MT).
Comments and Performance Indicators
Exports compare to 11,700 MT the week before. USDA projects exports in 2014 to be 9.6% below last year's total.

Pork

Actual Sales
2014: 9,500 MT
Weekly Sales Details
Net sales of 9,500 MT for 2014 were down 27% from the previous week and 21% from the prior 4-week average. Increases were reported for Mexico (3,800 MT), Japan (1,900 MT), South Korea (1,400 MT), Canada (600 MT), and China (400 MT).
Weekly Export Details
Exports of 10,800 MT were primarily to Mexico (3,900 MT), South Korea (1,600 MT), Japan (1,200 MT), Canada (900 MT), and Hong Kong (700 MT).
Comments and Performance Indicators
Exports compare to 12,900 MT the week prior. USDA projects exports in 2014 to be 3.0% above last year's total.

Link to USDA report.

 


 

 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close