Corn Export Sales Surge to More Than 1.341 MMT

October 24, 2013 02:56 AM
 

The Weekly Export Sales Report for the week ended Oct. 3, 2013, showed exporters took advantage of the reporting blackout the first week of the government shutdown by booking needs. Soybean export sales were also solid that week, but soymeal sales were highly impressive. Wheat sales did pull back from recent weeks, but keep in mind, this was ahead of the major plunge in the U.S. dollar index. Cotton sales were very light, though exports of the fiber were solid.

* On Oct. 31 at 7:30 a.m. CT, USDA will update export sales data for the weeks ended Oct. 10, Oct. 17 and Oct. 24. Subsequent reports will be released as scheduled.

USDA Weekly Export Sales Report
Week Ended Oct. 3, 2013

Corn

Actual Sales (in metric tons -- MT)

2013-14: 1,341,400 MT

Trade Expectations

650,000 to 850,000 MT

Weekly Sales Details

Net sales of 1,341,400 MT for 2013-14 were reported for unknown destinations (428,100 MT), China (230,600 MT, including 60,000 MT switched from unknown destinations), Japan (179,300 MT, including 48,500 MT switched from unknown destinations), Colombia (145,400 MT, including 61,700 MT switched from unknown destinations), and Mexico (129,400 MT). Decreases were reported for Vietnam (2,700 MT).

Weekly Export Details

Exports of 618,000 MT were primarily to China (184,600 MT), Mexico (162,900 MT), Colombia (90,600 MT), Japan (82,500 MT), and Taiwan (36,800 MT).

Comments and Performance Indicators

Sales were well above expectations. Export commitments for the 2013-14 marketing year are running 53% ahead of year-ago, which compares to 40% ahead of year ago last week. USDA projects exports in 2013-14 to be 66.7% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​strong>2013-14: 653,600 MT<​/strong><​/b>
Trade Expectations
600,000 to 850,000 MT
Weekly Sales Details
Net sales of 653,600 MT for delivery in the 2013-14 marketing year were down 22% from the previous week and 3% from the prior 4-week average. Increases were reported for Brazil (192,500 MT, including 50,000 MT switched from unknown destinations and decreases of 1,000 MT), South Korea (173,600 MT, including 90,000 MT switched from Singapore), Nigeria (101,500 MT, including 10,000 MT switched from unknown destinations), the Philippines (62,000 MT, including 51,500 MT switched from unknown destinations), Taiwan (56,400 MT), and China (48,200 MT, including 55,000 MT switched from unknown destinations and decreases of 6,800 MT). Decreases were reported for unknown destinations (152,300 MT) and Singapore (90,000 MT).
Weekly Export Details
Exports of 835,400 MT were unchanged from the previous week and down16% from the prior 4-week average. The primary destinations were China (170,200 MT), Brazil (132,500 MT), Mexico (126,400 MT), Indonesia (85,200 MT), the Philippines (81,200 MT), and Taiwan (56,400 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 43% ahead of year-ago, compared to 41% ahead last week. USDA projects exports in 2013-14 to be up 9.2% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
<​b>Combined: 947,800 MT
2013-14: 929,800 MT
2014-15: 18,000 MT
Trade Expectations
850,000 MT to 1.05 MMT
Weekly Sales Details
Net sales of 929,800 MT for 2013-14 were reported for China (242,300 MT, including 118,000 MT switched from unknown destinations and decreases of 193,800 MT), unknown destinations (122,400 MT), Japan (96,100 MT, including 37,800 MT switched from unknown destination and decreases of 1,700 MT), Germany (74,300 MT, including 65,000 MT switched from unknown destinations), and Saudi Arabia (66,000 MT). Net sales of 18,000 MT for 2014-15 were reported for Morocco (15,000 MT) and Japan (3,000 MT).
Weekly Export Details
Exports of 851,700 MT were primarily to China (425,900 MT), Mexico (125,600 MT), Germany (74,300 MT), and Spain (58,800 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are running 15% ahead of year-ago compared to 13% ahead last week. USDA projects exports in 2013-14 to be 4.2% above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
2013-14: 850,100 MT​
Trade Expectations
150,000 to 250,000 MT
Weekly Sales Details
Net sales of 850,100 MT for the 2013-14 marketing year (which began Oct. 1) were primarily for unknown destinations (383,000 MT), Spain (72,500 MT), the Philippines (71,500 MT), and Egypt (59,500 MT). Decreases were reported for the Dominican Republic (8,500 MT), Nicaragua (5,600 MT), and Guatemala (3,800 MT).
Weekly Export Details
Exports for October 1-3 of 15,100 MT were primarily to Canada (8,400 MT), Mexico (2,400 MT), Jamaica (2,000 MT), and Belgium (1,200 MT). Net sales reductions of 32,700 MT for (Sept. 27-30) resulted as increases for Canada (6,600 MT), Nicaragua (6,200 MT), and Guatemala (5,800 MT, including 8,400 MT switched from unknown destinations and decreases of 2,600 MT), were more than offset by decreases for Mexico (19,900 MT), the Philippines (17,300 MT), and unknown destinations (15,000 MT). A total of 339,100 MT in sales were outstanding on Sept. 30 (the end of the 2012-13 marketing year) and carried over to the 2013-14 marketing year. Exports of 49,100 MT were reported for September 27-30. The primary destinations were Canada (14,300 MT), Honduras (8,900 MT), Mexico (6,400 MT), and Nicaragua (6,200 MT). Accumulated exports for the 2012-13 marketing year were 9,712,300 MT, up 14% from the 8,501,100 MT reported in 2011/2012.
Comments and Performance Indicators
Sales were WELL above expectations. Export commitments for 2013-14 are running 21% ahead of last year's pace. USDA in September projected exports in 2013-14 will be down 19.1% from the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

Combined: 9,100

2012-13 -18,400

2013-14: 27,500

Trade Expectations
10,000 MT to 20,000 MT
Weekly Sales Details
Net sales of 27,500 MT for the 2013-14 marketing year (which began Oct. 1) were primarily for Canada (13,000 MT), Venezuela (8,000 MT)and Colombia (4,400 MT). Net sales reductions of 18,400 MT for Sept. 27-30 resulted as increases for Mexico (5,000 MT), were more than offset by decreases for Canada (15,500 MT) and Venezuela (8,000 MT). A total of 10,600 MT in sales were outstanding on Sept. 30 (the end of the 2012-13 marketing year) and carried over to the 2013-14 marketing year.
Weekly Export Details
Exports of 6,200 MT were reported for September 27-30. Increases were reported for Mexico (5,400 MT) and Canada (800 MT). Exports for October 1-3 of 800 MT were to Canada (400 MT) and Mexico (400 MT). Accumulated exports for the 2012-13 marketing year were 935,600 MT, up 60% from the 585,900 MT reported in 2011/2012. 
Comments and Performance Indicators
Sales fell short of expectations. Export commitments for the new marketing year are 68% behind year-ago. USDA in September projected exports in 2013-14 to be 4.8% behind the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)

Combined: 39,600 RB

2013-14: 44,000 RB

2014-15: -4,400

Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 44,000 RB for 2013-14 were down 32% from the previous week and 52% from the prior 4-week average. Increases were reported for China (16,900 RB), Vietnam (15,100 RB), Indonesia (8,000 RB), Colombia (7,000 RB), and Thailand (5,200 RB, including 800 RB switched from Indonesia). Decreases were reported for Turkey (25,300 RB) and Mexico (2,000 RB). Net sales reductions of 4,400 RB for 2014-15 were reported for Turkey.
Weekly Export Details
Exports of 129,000 RB were up 28% from the previous week and 19% from the prior 4-week average. The primary destinations were Mexico (29,200 RB), China (22,500 RB), Turkey (21,500 RB), Thailand (8,700 RB), and Morocco (7,900 RB).
Comments and Performance Indicators
Export commitments are 27% behind year-ago compared to 27% behind year-ago last week. USDA projects exports in 2013-14 to be 20.2% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

<​b><​strong><​b>2013:​ 10,400 MT<​/b>

Weekly Sales Details
Net sales of 10,400 MT for 2013 were primarily for Japan (2,600 MT), Hong Kong (2,600 MT), South Korea (2,100 MT), Canada (1,400 MT), and Chile (700 MT).
Weekly Export Details
Exports of 14,800 MT were up 7% from the previous week and 14% from the prior 4-week average. The primary destinations were Japan (3,500 MT), Hong Kong (3,000 MT), South Korea (2,300 MT), Mexico (2,300 MT), and Canada (2,000 MT).
Comments and Performance Indicators
Exports compare to 12,800 MT last week. USDA projects exports in 2013 to be 1.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b><​strong>2013: 8,600 MT
Weekly Sales Details
Net sales of 8,600 MT for 2013 were primarily for Mexico (1,800 MT), South Korea (1,700 MT), Canada (1,600 MT), Japan (1,000 MT), and Hong Kong (800 MT).
Weekly Export Details
Exports of 8,400 MT were down 7% from the previous week and 1% from the prior 4-week average. The primary destinations were Mexico (3,100 MT), Japan (1,500 MT), Canada (1,000 MT), South Korea (800 MT), and Hong Kong (600 MT).
Comments and Performance Indicators
Exports compare to 21,800 MT last week. USDA projects exports in 2013 to be 5.1% below last year's total.

Link to USDA report.

 


 

 

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