Export Sales of Soybeans & Soy Products Remain Strong

September 20, 2012 02:52 AM
 

The Weekly Export Sales Report for the week ended Sept. 13, 2012, showed a marked decline in corn sales, while demand for soybeans and soy products remains strong. Wheat export sales were decent and matched expectations. Cotton export sales improved over recent weeks, while beef export sales slowed notably.

USDA Weekly Export Sales Report
Week Ended Sept. 13, 2012

Corn

Actual Sales (in metric tons -- MT)

2012-13: 69,900 MT

Trade Expectations

350,000 to 450,000 MT

Weekly Sales Details

Net sales of 69,900 MT for the 2012-13 marketing year resulted as increases for Japan (178,700 MT, including 158,200 MT switched from unknown destinations and decreases of 27,700 MT), Mexico (55,600 MT, including 30,500 MT switched from unknown destinations and decreases of 15,900 MT), Colombia (30,000 MT), and China (25,400 MT, switched from unknown destinations), were partially offset by decreases for unknown destinations (226,300 MT)Costa Rica (23,000 MT), and Nicaragua (9,800 MT).

Weekly Export Details

Exports of 740,000 MT were primarily to Japan (266,400 MT), China (220,600 MT), Mexico (137,100 MT), Venezuela (57,500 MT), and Panama (23,100 MT).

Comments and Performance Indicators

Sales fell well short of expectations. Export commitments for the new marketing year are 33% behind year ago compared to 30% behind last week. USDA projects exports in 2012-13 to be 18.8% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2012-13: 488,900 MT
Trade Expectations
350,000 to 550,000 MT
Weekly Sales Details
Net sales of 488,900 MT for the 2012-13 marketing year were up 28 percent from the previous week and 3 percent from the prior 4-week average. Increases were reported for Mexico (128,300 MT), Japan (87,200 MT), Thailand (45,300 MT), Panama (43,300 MT), Nigeria (36,000 MT), and Venezuela (34,000 MT). Decreases were reported for Brazil (4,000 MT), Trinidad (3,500 MT), and Belgium (1,300 MT).
Weekly Export Details
Exports of 776,000 MT were up 59 percent from the previous week and 33 percent from the prior 4-week average. The primary destinations were Japan (145,400 MT), Mexico (131,400 MT), Nigeria (105,400 MT), China (57,800 MT), the Philippines (51,200 MT), Indonesia (44,400 MT), and Malaysia (35,400 MT).
Comments and Performance Indicators
Sales met expectations. Export commitments for the new marketing year are 11% behind year-ago, compared to 10% behind last week. USDA projects exports in 2012-13 to be 14.3% ahead of the previous marketing year.

Soybeans

Actual Sales (in metric tons -- MT)

Combined: 717,700 MT
2012-13: 712,200 MT
2013-14: 5,500 MT

Trade Expectations
550,000 to 750,000 MT
Weekly Sales Details
Net sales of 712,200 MT for the 2012-13 marketing year were reported for China (237,200 MT), unknown destinations (134,400 MT), the Netherlands (65,300 MT, including 70,000 MT switched from unknown destinations and decreases of 4,700 MT), Egypt (60,000 MT), and Japan (45,800 MT, including 28,100 MT switched from unknown destinations and decreases of 1,400 MT). Net sales of 5,500 MT for delivery in 2013-14 were reported for Japan.
Weekly Export Details
Exports of 272,600 MT were reported to China (119,200 MT), the Netherlands (65,300 MT), Japan (30,700 MT), Mexico (27,700 MT), and Taiwan (15,300 MT).
Comments and Performance Indicators

Sales met expectations. Export commitments for the new marketing year are running 42% ahead of year-ago compared to 41% ahead last week. USDA projects exports in 2012-13 to be 22.4% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

Combined: 234,300 MT
2011-12: 177,900 MT
2012-13: 56,400 MT

Trade Expectations
150,000 to 200,000 MT
Weekly Sales Details
Net sales of 177,900 MT were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Canada (74,100 MT), Mexico (35,000 MT), Venezuela (27,500 MT), the Philippines (14,900 MT), and the Dominican Republic (9,000 MT). Decreases were reported for unknown destinations (9,900 MT). Net sales of 56,400 MT for delivery in the 2012-13 marketing year resulted as increases for the Philippines (62,000 MT), Egypt (34,000 MT), Morocco (15,000 MT), and unknown destinations (15,000 MT), were partially offset by decreases for Canada (64,200 MT), Mexico (37,200 MT), and Trinidad (2,200 MT).
Weekly Export Details
Exports of 223,100 MT were up noticeably from the previous week and 52 percent from the prior 4-week average. The primary destinations were the Philippines (46,900 MT), Mexico (38,300 MT), Venezuela (34,000 MT), and Ecuador (30,000 MT).
Comments and Performance Indicators
Sales topped expectations. Export commitments are running 14% ahead of year-ago, compared to 11% ahead last week. USDA projects exports in 2011-12 to be 4.6% ahead of the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

Combined: 36,300 MT
2011-12: 5,500 MT
2012-13: 30,800 MT

Trade Expectations
10,000 to 20,000 MT
Weekly Sales Details
Net sales of 5,500 MT for the 2011-12 marketing year were down 62 percent from the previous week and 64 percent from the prior 4-week average. Increases were reported for Mexico (3,500 MT), Nicaragua (800 MT), and Canada (600 MT). Net sales of 30,800 MT for delivery in the 2012-13 marketing year were reported for China (16,500 MT) and Mexico (14,300 MT).
Weekly Export Details
Exports of 8,700 MT were down 81 percent from the previous week and 53 percent from the prior 4-week average. The primary destinations were Nicaragua (4,200 MT), Mexico (2,200 MT), and El Salvador (1,200 MT).
Comments and Performance Indicators
Sales were well above expectations. Export commitments are 54% below year-ago, compared to 54% below last week. USDA projects exports in 2011-12 to be 55.2% below the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 211,900 RB
2012-13: 197,100 RB
2013-14: 14,800 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 197,100 running bales for the 2012-13 marketing year were primarily for China (85,600 RB), Turkey (37,700 RB), Mexico (26,400 RB), Hong Kong (15,400 RB), Peru (8,200 RB), and Taiwan (7,500 RB). Net sales of 14,800 RB for delivery in the 2013-14 were reported for Turkey.
Weekly Export Details
Exports of 179,300 RB were primarily to China (93,000 RB), Mexico (20,200 RB), Turkey (17,400 RB), and Taiwan (11,400 RB).
Comments and Performance Indicators
Export commitments are 21% behind year-ago compared to 24% behind last week. USDA projects exports in 2012-13 to be 0.8% above the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

2012: 10,900 MT

Weekly Sales Details
Net sales of 10,900 MT were down 35 percent from the previous week and 33 percent from the prior 4-week average. Increases were reported for Mexico (2,200 MT), Vietnam (1,700 MT), Russia (1,500 MT), Canada (1,400 MT), and South Korea (900 MT).
Weekly Export Details
Exports of 16,700 MT were primarily to Mexico (3,200 MT), Japan (2,600 MT), Russia (1,800 MT), South Korea (1,700 MT), and Canada (1,700 MT).
Comments and Performance Indicators
Exports compare to 16,800 MT last week. USDA projects exports in 2012 to be 11.0% below last year's total.

Link to USDA report.

 


 

 

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