Corn Export Sales Top 1.7 MMT

July 18, 2013 02:55 AM
 

The Weekly Export Sales Report for the week ended July 11, 2013, reflected a surge in corn demand, with sales in excess of 1.7 MMT building on last week's impressive 1-million-plus tally. China was the lead buyer. Wheat export sales were also strong, though they fell short of lofty expectations. Bean export sales also improved notably from recent tallies and topped expectations. Cotton export sales were again light. Beef export sales were strong and up from week-ago, while pork export sales fell from week ago to a light 4,100 MT.

USDA Weekly Export Sales Report
Week Ended July 11, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 1,743,700 MT
2012-13: 152,900 MT
2013-14: 1,590,800 MT

Trade Expectations

600,000 to 950,000 MT

Weekly Sales Details

Net sales of 152,900 MT for 2012-13 were down 61% from the previous week and 44% from the prior 4-week average. Increases for Japan (178,000 MT, including 132,800 MT switched from unknown destinations and decreases of 5,600 MT), Venezuela (70,600 MT, including 63,600 MT switched from unknown destinations), Mexico (68,800 MT), El Salvador (5,200 MT, including 4,800 MT switched from Guatemala), and Taiwan (4,100 MT), were partially offset by decreases for unknown destinations (176,500 MT) and Guatemala (3,600 MT). Net sales of 1,590,800 MT for 2013-14 were primarily for China (1,263,000 MT), unknown destinations (212,600 MT), and Japan (61,000 MT).

Weekly Export Details

Exports of 407,300 MT were up 53% from the previous week and 49% from the prior 4-week average. The primary destinations were Japan (174,000 MT), Venezuela (102,600 MT), Mexico (50,700 MT), and Costa Rica (27,500 MT).

Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are 52% 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: <​b>996,600 MT<​/b>
Trade Expectations
1,000,000 to 1,300,000 MT
Weekly Sales Details
Net sales of 996,600 MT for delivery in the 2013-14 marketing year were primarily for China (420,000 MT), Brazil (124,000 MT, including 50,000 MT switched from unknown destinations and decreases of 40,200 MT), South Korea (95,000 MT), Chile (69,700 MT), and Indonesia (68,300 MT). Decreases were reported for El Salvador (9,100 MT), unknown destinations (5,800 MT), the Philippines (1,100 MT), and Costa Rica (800 MT).
Weekly Export Details

Exports of 726,000 MT were primarily to Brazil (172,000 MT), Mexico (90,300 MT), Peru (90,100 MT), Indonesia (68,300 MT), Guatemala (52,600 MT), Japan (48,000 MT), and Chile (31,700 MT).

Comments and Performance Indicators

Sales were just below expectations. Export commitments for the 2013-14 marketing year are running 44% ahead of year-ago, compared to 43% ahead last week. USDA projects exports in 2013-14 to be up 6.5% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 702,300 MT
2012-13: 110,600 MT
2013-14: 591,700 MT
Trade Expectations
350,000 to 700,000 MT
Weekly Sales Details
Net sales of 110,600 MT for 2012-13 were up noticeably from the previous week and from the prior 4-week average. Increases for Mexico (69,400 MT), Thailand (20,000 MT), South Korea (13,000 MT), Japan (9,400 MT, including 9,000 MT switched from unknown destinations and decreases of 300 MT), and Taiwan (5,400 MT), were partially offset by decreases for unknown destinations (9,000 MT) and Indonesia (600 MT). Net sales of 591,700 MT for 2013-14 were primarily for unknown destinations (257,600 MT) and China (240,500 MT).
Weekly Export Details
Exports of 121,300 MT were up 57% from the previous week, but down 5% from the prior 4-week average. The primary destinations were Mexico (75,700 MT), Japan (14,700 MT), Vietnam (10,400 MT), Taiwan (6,200 MT), and Indonesia (6,100 MT).
Comments and Performance Indicators

Sales were just above expectations. Export commitments for the new marketing year are running 3% behind year-ago compared to 3% 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)
<​strong>Combined: 79,600 MT
2012-13: 41,600 MT
2013-14: 38,000 MT
<​/strong>
Trade Expectations
50,000 to 150,000 MT
Weekly Sales Details
Net sales of 41,600 MT for 2012-13 resulted as increases for Mexico (30,900 MT), Venezuela (30,000 MT, including 22,500 MT switched from unknown destinations), Honduras (16,100 MT, including 13,000 MT switched from unknown destinations and decreases of 300 MT), the Philippines (14,800 MT), Guatemala (9,600 MT, including 8,700 MT switched from El Salvador), and Canada (8,500 MT), were partially offset by decreases for Colombia (50,000 MT), unknown destinations (22,500 MT), and El Salvador (8,300 MT). Net sales of 38,000 MT for 2013-14 were primarily for unknown destinations (22,000 MT) and Turkey (14,000 MT).
Weekly Export Details
Exports of 215,500 MT were up noticeably from the previous week and from the prior 4-week average. The primary destinations were the Philippines (58,500 MT), Mexico (41,600 MT), Venezuela (27,000 MT), Honduras (20,500 MT), and Canada (16,900 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 21% ahead of last year's pace compared to 23% ahead of year-ago last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​strong> 2012-13: 10,600 MT​<​/b>

Trade Expectations
0 MT to 20,000 MT
Weekly Sales Details
Net sales of 10,600 MT for 2012-13 resulted as increases for Mexico (9,500 MT), Nicaragua (900 MT), and Canada 700 MT), were partially offset by decreases for unknown destinations (600 MT).
Weekly Export Details
Exports of 11,200 MT were down 48% from the previous week, but up 44% from the prior 4-week average. The primary destinations were Mexico (7,800 MT), Canada (2,400 MT), Nicaragua (900 MT), and Australia (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 67% ahead of year-ago, compared to 69% 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)
<​b>Combined: 90,500 RB
2012-13: 50,400 RB
2013-14: 40,100 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 50,400 running bales for 2012-13 were up 54% from the previous week and 4% from the prior 4-week average. Increases were reported for China (21,600 RB, including 400 RB switched from Japan), Turkey (6,800 RB), Taiwan (4,500 RB), Bangladesh (4,400 RB), and South Korea (4,300 RB). Decreases were reported for Indonesia (2,500 RB), Japan (1,600 RB), and El Salvador (1,200 RB). Net sales of 40,100 RB for 2013-14 were reported primarily for Brazil (19,800 RB), Mexico (15,600 RB), and Turkey (12,300 RB). Decreases were reported for Vietnam (11,000 RB) and Morocco (1,400 RB).
Weekly Export Details
Exports of 128,700 RB were up 1% from the previous week, but down 20% from the prior 4-week average. The primary destinations were China (35,000 RB), Turkey (28,500 RB), Mexico (15,100 RB), South Korea (9,100 RB), and Vietnam (8,700 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 13.6% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
<​strong>2013: 15,200 MT
Weekly Sales Details
Net sales of 15,200 MT for 2013 were primarily for Hong Kong (3,900 MT), Canada (2,800 MT), South Korea (2,700 MT), Japan (2,600 MT), and Mexico (2,000 MT).
Weekly Export Details
Exports of 15,800 MT were up 21% from the previous week and 6% from the prior 4-week average. The primary destinations were Japan (4,300 MT), Hong Kong (3,300 MT), Mexico (2,600 MT), Canada (2,400 MT), and South Korea (1,600 MT).
Comments and Performance Indicators
Exports compare to 14,600 MT last week. USDA projects exports in 2013 to be 5.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
2013: 4,100 MT
Weekly Sales Details
Net sales of 4,100 MT for 2013 were primarily for Canada (1,400 MT), Japan (1,400 MT), Hong Kong (400 MT), South Korea (200 MT), and Mexico (200 MT).
Weekly Export Details
Exports of 9,000 MT were primarily to Mexico (3,300 MT), Hong Kong (1,500 MT), Japan (1,200 MT), Canada (1,100 MT), and Australia (400 MT).
Comments and Performance Indicators
Exports compare to 6,400 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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