Corn, Wheat Export Sales Top Expectations

May 31, 2013 02:56 AM
 

The Weekly Export Sales Report for the week ended May 23, 2013, reflected improved demand for most commodities. Corn, soybean and wheat export sales were strong, with corn and wheat export sales topping expectations. Beef and pork exports sales also reflect improving demand. Cotton export sales were the outlier as they were relatively light.

USDA Weekly Export Sales Report
Week Ended May 23, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 875,300 MT
2012-13: 85,700
MT
2013-14: 789,600 MT

Trade Expectations

500,000 to 800,000 MT

Weekly Sales Details

Net sales of 85,700 MT for 2012-13 were down 18% from the previous week and 56% from the prior 4-week average. Increases reported for Japan (66,100 MT, including 66,600 MT switched from unknown destinations and decreases of 6,800 MT), South Korea (57,400 MT, including 55,000 MT switched from unknown destinations), Mexico (45,800 MT), Venezuela (30,000 MT), and Taiwan (5,100 MT), were partially offset by decreases for unknown destinations (112,400 MT), Honduras (4,300 MT), and Panama (4,000 MT). Net sales of 789,600 MT for 2013-14 were for China (483,000 MT), unknown destinations (242,000 MT), and Mexico (64,600 MT).

Weekly Export Details

Exports of 354,700 MT were up 31% from the previous week and 22% from the prior 4-week average. The primary destinations were Japan (212,700 MT), Mexico (58,700 MT), South Korea (57,600 MT), and Venezuela (15,000 MT).

Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are 55% behind year ago compared to 55% behind last week. USDA projects exports in 2012-13 to be 51.4% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 764,200 MT
2012-13: 35,900 MT
2013-14: 728,300 MT
Trade Expectations
300,000 to 700,000 MT
Weekly Sales Details
Net sales of 35,900 MT--a marketing-year low--for delivery in the 2012-13 marketing year were down 85% from the previous week and 82% from the prior 4-week average. Increases reported for Nigeria (78,400 MT, including 12,100 MT switched from unknown destinations), Yemen (55,000 MT), Italy (52,500 MT, including 24,800 MT switched from unknown destinations and decreases of 2,100 MT), Brazil (45,700 MT, including 25,000 MT switched from Uruguay and 15,000 MT switched from unknown destinations), Japan (18,600 MT, including 24,400 MT switched from unknown destinations and decreases of 6,200 MT), and Canada (17,000 MT), were partially offset by decreases for unknown destinations (152,100 MT), Mexico (43,900 MT), Guatemala (41,500 MT), Uruguay (25,000 MT), and China (9,100 MT). Net sales of 728,300 MT for delivery in the 2013-14 marketing year were primarily for Brazil (233,000 MT), China (180,400 MT), Mexico (107,800 MT), Japan (103,900 MT), and unknown destinations (84,600 MT). Decreases were reported for South Korea (55,000 MT), Uruguay (54,000 MT), and Venezuela (1,500 MT).
Weekly Export Details

Exports of 592,500 MT were up 34% from the previous week, but down 7% from the prior 4-week average. The primary destinations were Japan (88,600 MT), Nigeria (83,400 MT), Peru (79,200 MT), Brazil (75,700 MT), Yemen (55,000 MT), and Italy (52,500 MT).

Comments and Performance Indicators

Sales were above expectations. Export commitments for the 2012-13 marketing year are 3% behind year-ago, compared to 3% behind last week. USDA projects exports in 2012-13 to be up 16.8% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 648,600 MT
2012-13: -108,000 MT
2013-14: 756,600 MT
Trade Expectations
300,000 to 800,000 MT
Weekly Sales Details
Net sales reductions of 108,000 MT for 2012-13 resulted as increases for Japan (74,600 MT, including 28,800 MT switched from unknown destinations and decreases of 1,700 MT), Venezuela (12,000 MT), Mexico (11,100 MT), Vietnam (9,800 MT), and Indonesia (6,000 MT), were more than offset by decreases for China (207,500 MT) and unknown destinations (28,800 MT). Net sales of 756,600 MT for 2013-14 were primarily for China (587,000 MT), unknown destinations (128,000 MT), Italy (30,000 MT), and Mexico (10,900 MT).
Weekly Export Details
Exports of 112,500 MT were up 12% from the previous week, but down 44% from the prior 4-week average. The primary destinations were Japan (52,200 MT), Indonesia (17,400 MT), Mexico (11,700 MT), Taiwan (10,100 MT), and Vietnam (9,800 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are running 1% ahead of year-ago compared to 2% ahead last week. USDA projects exports in 2012-13 to be 0.9% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
Combined: 190,100 MT
2012-13: 149,200​ MT
2013-14: 40,900 MT<​/strong>
Trade Expectations
100,000 to 250,000 MT
Weekly Sales Details
Net sales of 149,200 MT for 2012-13 were up 21% from the previous week and 79% from the prior 4-week average. Increases were reported for the Philippines (64,300 MT), Mexico (37,600 MT), Venezuela (12,000 MT, switched from unknown destinations), unknown destinations (9,600 MT), Honduras (7,800 MT), and Canada (7,700 MT). Decreases were reported for Panama (3,200 MT). Net sales of 40,900 MT for delivery in 2013-14 were for the Philippines (40,000 MT) and Canada (900 MT).
Weekly Export Details
Exports of 178,400 MT were up 36% from the previous week and 53% from the prior 4-week average. The primary destinations were the Philippines (49,800 MT), Mexico (28,600 MT), the Dominican Republic (21,900 MT), Canada (17,000 MT), Morocco (15,200 MT), and Venezuela (15,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 34% ahead of last year's pace compared to 33% ahead of year-ago last week. USDA projects exports in 2012-13 to be 1.6% ahead of the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 2,900 MT​<​/strong>

Trade Expectations
0 to 15,000 MT
Weekly Sales Details
Net sales of 2,900 MT for 2012-13 were down 70% from the previous week, but up 81% from the prior 4-week average. Increases were reported for Mexico (1,800 MT), Nicaragua (600 MT), and Canada (300 MT).
Weekly Export Details
Exports of 12,200 MT were up 6% from the previous week and 44% from the prior 4-week average. The primary destinations were Mexico (5,400 MT), Venezuela (5,000 MT), and Canada (1,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 94% ahead of year-ago, compared to 99% 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: 153,000 RB
2012-13: 117,500 RB
2013-14: 35,500 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 117,500 running bales for 2012-13 were up 16% from the previous week, but down 23% from the prior 4-week average. Increases were reported for China (64,800 RB), Vietnam (13,700 RB), Turkey (9,800 RB), Taiwan (6,000 RB), and Colombia (5,200 RB). Decreases were reported for Japan (2,100 RB). Net sales of 35,500 RB for 2013-14 were reported primarily for China (30,800 RB).
Weekly Export Details
Exports of 301,800 RB were up 30% from the previous week and 2% from the prior 4-week average. The primary destinations were China (121,500 RB), Turkey (46,300 RB), Mexico (30,400 RB), Thailand (17,400 RB), South Korea (13,300 RB), and Vietnam (12,300 RB).
Comments and Performance Indicators
Export commitments are 6% ahead of year-ago compared to 6% ahead last week. USDA projects exports in 2012-13 to be 13.2% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 19,000 MT
Weekly Sales Details
Net sales of 19,000 MT for 2013 were primarily for Hong Kong (5,900 MT), Japan (3,600 MT), Mexico (3,600 MT), Canada (2,500 MT), and South Korea (2,100 MT).
Weekly Export Details
Exports of 14,300 MT--a marketing-year high--were up 3% from the previous week and 14% from the prior 4-week average. The primary destinations were Japan (5,000 MT), Mexico (2,600 MT), Canada (1,800 MT), Hong Kong (1,700 MT), and South Korea (1,000 MT).
Comments and Performance Indicators
Exports compare to 20,400 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>2013: 15,100 MT
Weekly Sales Details
Net sales of 15,100 MT for 2013 were primarily for Mexico (7,300 MT), Canada (2,000 MT), Japan (900 MT), Hong Kong (800 MT), and South Korea (700 MT).
Weekly Export Details
Exports of 8,900 MT were primarily to Mexico (3,700 MT), Canada (1,200 MT), Japan (1,100 MT), Hong Kong (800 MT), and South Korea (600 MT).
Comments and Performance Indicators
Exports compare to 7,200 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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