Corn, Soybean Export Sales Fall Short of Lofty Expectations

August 22, 2013 02:51 AM
 

The Weekly Export Sales Report for the week ended Aug. 15, 2013, showed corn and soybean export sales falling short of expectations, though both tallies were fairly strong. Wheat export sales came within the average pre-report trade guess.

USDA Weekly Export Sales Report
Week Ended Aug. 15, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 492,600 MT
2012-13: 58,200 MT
2013-14:
434,400 MT

Trade Expectations

550,000 to 950,000 MT

Weekly Sales Details

Net sales of 58,200 MT for 2012/2013 resulted as increases for Mexico (35,800 MT), Japan (18,400 MT, including 18,100 MT switched from unknown destinations), Honduras (13,500 MT, including 12,300 MT switched from unknown destinations), Venezuela (10,000 MT), and Taiwan (5,100 MT), were partially offset by decreases for unknown destinations (30,400 MT) and Canada (1,600 MT). Net sales of 434,400 MT for 2013/2014 were primarily for Mexico (166,300 MT), Japan (101,600 MT), and Guatemala (59,100 MT).

Weekly Export Details

Exports of 173,500 MT were down 54 percent from the previous week and 50 percent from the prior 4-week average. The primary destinations were Mexico (103,600 MT), Japan (28,600 MT), Panama (15,400 MT), and Honduras (13,500 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are 52% behind year ago compared to 52% behind last week. USDA projects exports in 2012-13 to be 53.7% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​b><​b>2013-14: 494,000 MT<​/strong>
Trade Expectations
400,000 to 650,000 MT
Weekly Sales Details
Net sales of 494,000 MT for delivery in the 2013/2014 marketing year were up 1 percent from the previous week, but down 20 percent from the prior 4-week average. Increases were reported for Brazil (188,800 MT, including 50,000 MT switched from unknown destinations), China (52,300 MT, including 60,000 MT switched from unknown destinations and decreases of 9,800 MT), Thailand (52,000 MT), South Korea (50,200 MT), Taiwan (47,900 MT), and Nigeria (39,900 MT). Decreases were reported for unknown destinations (69,600 MT).
Weekly Export Details

Exports of 871,300 MT were up 23 percent from the previous week and 30 percent from the prior 4-week average. The primary destinations were China (240,600 MT), Nigeria (133,000 MT), Brazil (110,800 MT), Japan (74,900 MT), Yemen (47,300 MT), the Philippines (45,300 MT), Indonesia (44,000 MT), and Taiwan (39,100 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 40% 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)
Co​mbined: 946,900 MT
2012-13: 20,900 MT
2013-14:
926,000 MT
Trade Expectations
1,350,000 to 2,000,000 MT
Weekly Sales Details
Net sales of 20,900 MT for 2012/2013 resulted as increases for Indonesia (107,200 MT, including 107,100 MT switched from unknown destinations), Japan (23,300 MT, including 22,000 MT switched from unknown destinations), Taiwan (15,800 MT), and Thailand (3,000 MT), were partially offset by decreases for unknown destinations (129,100 MT). Net sales of 926,000 MT for 2013/2014 were primarily for China (681,000 MT), unknown destinations (159,500 MT), and Mexico (68,200 MT).
Weekly Export Details
Exports of 147,000 MT were up 56 percent from the previous week and 94 percent from the prior 4-week average. The primary destinations were Indonesia (111,300 MT), Japan (27,400 MT), Taiwan (3,800 MT), Vietnam (1,600 MT), and Malaysia (1,000 MT).
Comments and Performance Indicators

Sales fell short of lofty expectations. Export commitments for the new marketing year are running 4% behind year-ago compared to 4% behind year-ago last week. USDA projects exports in 2012-13 to be 3.7% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
Combined: 178,700 MT
2012-13: 75,700 MT
2013-14:
101,000 MT
Trade Expectations
150,000 to 400,000 MT
Weekly Sales Details
Net sales of 75,700 MT for 2012/2013 were down 38 percent from the previous week and 21 percent from the prior 4-week average. Increases were reported for Mexico (31,200 MT), Turkey (24,000 MT), Venezuela (9,000 MT), Canada (7,800 MT), and Honduras (6,000 MT, including 5,100 MT switched from unknown destinations). Decreases were reported for unknown destinations (3,900 MT). Net sales of 101,000 MT for 2013/2014 were primarily for Honduras (32,600 MT), Guatemala (26,000 MT), Venezuela (25,000 MT), and the Dominican Republic (9,000 MT).
Weekly Export Details
Exports of 79,600 MT were down 45 percent from the previous week and 29 percent from the prior 4-week average. The primary destinations were Mexico (37,900 MT), Canada (15,600 MT), the Dominican Republic (7,100 MT), Panama (7,100 MT), and Honduras (5,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 17% ahead of last year's pace compared to 18% ahead of year-ago last week. USDA projects exports in 2012-13 to be up 11.9% from the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

Combined: 9,700 MT 2012-13: 8,400 MT 2013-14: 1,300 MT

Trade Expectations
0 MT to 20,000 MT
Weekly Sales Details
Net sales of 8,400 MT for 2012/2013 were for Germany (4,000 MT), Colombia (3,000 MT), Mexico (1,000 MT), and Canada (300 MT). Net sales of 1,300 MT for 2013/2014 were reported for Mexico.
Weekly Export Details
Exports of 2,800 MT were down 44 percent from the previous week, but up 10 percent from the prior 4-week average. The primary destinations were Mexico (2,000 MT) and Canada (700 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 61% ahead of year-ago, compared to 61% ahead last week. USDA projects exports in 2012-13 to be 46.9% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
<​b>2013-14: 81,000 RB<​/strong>
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 81,000 RB for 2013/2014 were primarily for Turkey (19,400 RB), China (13,500 RB, including 400 RB switched from South Korea), El Salvador (12,100 RB), Colombia (10,500 RB, switched from Mexico) and Vietnam (6,500 RB, including 5,400 RB switched from China).
Weekly Export Details
Exports of 240,500 RB were primarily to Mexico (58,700 RB), China (51,000 RB), Vietnam (47,300 RB), Turkey (27,300 RB), and Thailand (12,000 RB).
Comments and Performance Indicators
Export commitments are 22% behind year-ago compared to 22% behind year-ago last week. USDA projects exports in 2013-14 to be 19.1% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 16,100 MT<​/strong>
Weekly Sales Details
Net sales of 16,100 MT for 2013 were primarily for Japan (3,600 MT), Mexico (3,600 MT), South Korea (3,300 MT), Hong Kong (3,000 MT), and Canada (1,100 MT)
Weekly Export Details
Exports of 13,900 MT were down 14 percent from the previous week and 9 percent from the prior 4-week average. The primary destinations were Japan (4,000 MT), Mexico (2,600 MT), South Korea (2,000 MT), Canada (1,800 MT), and Hong Kong (1,800 MT).
Comments and Performance Indicators
Exports compare to 16,100 MT last week. USDA projects exports in 2013 to be 3.7% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
2013: 7,100 MT
Weekly Sales Details
Net sales of 7,100 MT for 2013 were primarily for Canada (2,400 MT), Mexico (1,600 MT), the Philippines (900 MT), Japan (600 MT), and Ukraine (500 MT). .
Weekly Export Details
Exports of 8,100 MT were down 34 percent from the previous week and 15 percent from the prior 4-week average. The primary destinations were Mexico (2,800 MT), Hong Kong (1,500 MT), Japan (1,100 MT), Canada (1,100 MT), and the Philippines (400 MT).
Comments and Performance Indicators
Exports compare to 12,400 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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