Exporters Took Full Advantage of Gov't Closure to Buy Corn & Beans

October 31, 2013 02:56 AM
 

The Weekly Export Sales Report for the weeks ended Oct. 10, Oct. 17 and Oct. 24, showed buyers took full advantage of the government shutdown and dollar weakness during the period to book corn and soybean needs. Wheat and pork export sales were nothing to write home about, but cotton and beef sales were solid.

* Going forward, export sales reports will be released as scheduled.

USDA Weekly Export Sales Report
Weeks Ended Oct. 10, 17 and 24, 2013

Corn

Actual Sales (in metric tons -- MT)

<​strong>Combined: 5,293,500 MT
2013-14: <​/strong> 4,555,500 MT
2014-15: 738,000 MT​
<​/strong>

Trade Expectations

1.8 MMT to 3.0 MMT

Weekly Sales Details

Net sales of 4,555,500 MT for 2013-14 were reported for Mexico (1,689,400 MT, including 33,400 MT switched from unknown destinations and decreases of 7,300 MT), Japan (862,700 MT, including 122,000 MT switched from unknown destinations and decreases of 19,900 MT), China (777,600 MT, including 373,000 MT switched from unknown destinations and decreases of 24,500 MT), unknown destinations (434,900 MT), and Colombia (242,400 MT, including 30,000 MT switched from unknown destinations and decreases of 2,800 MT). Decreases were reported for Panama (9,600 MT) and El Salvador (2,000 MT). Net sales of 738,000 MT for the 2014-15 marketing year were reported for Mexico (734,400 MT) and Nicaragua (3,600 MT).

Weekly Export Details

Exports of 2,094,400 MT were primarily to Mexico (708,300 MT), China (677,900 MT), Japan (255,600 MT), Colombia (123,300 MT), and Saudi Arabia (68,200 MT).

Comments and Performance Indicators

Sales were WELL expectations. Export commitments for the 2013-14 marketing year are running 88% ahead of year-ago, which compares to 53% ahead of year ago the week ended Oct. 3. USDA projects exports in 2013-14 to be 66.7% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​b><​b>2013-14: 1,308,800 MT<​/b>​<​/strong>
Trade Expectations
1.2 MMT to 2.0 MMT
Weekly Sales Details
Net sales of 1,308,800 MT for delivery in the 2013-14 marketing year were reported for Brazil (393,300 MT, including 75,000 MT switched from unknown destinations and decreases of 19,200 MT), unknown destinations (181,900 MT), the Philippines (132,300 MT, including 25,000 MT switched from unknown destinations and decreases of 1,800 MT), Nigeria (121,900 MT), Japan (97,500 MT), South Korea (80,100 MT), and Mexico (66,200 MT). Decreases were reported for Guatemala (11,700 MT), the Dominican Republic (4,400 MT), and Yemen (3,100 MT).
Weekly Export Details
Exports of 1,621,800 MT were reported for China (409,700 MT), Brazil (381,900 MT), Japan (169,700 MT), the Philippines (106,700 MT), Nigeria (80,700 MT), and Mexico (64,500 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 39% ahead of year-ago, compared to 43% ahead the week ended Oct. 3. USDA projects exports in 2013-14 to be up 9.2% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
2013-14: 4,742,000 MT
Trade Expectations
2.1 MMT to 3.0 MMT
Weekly Sales Details
Net sales of 4,742,000 MT for 2013-14 were reported for China (2,112,300 MT, including 644,100 MT switched from unknown destinations and decreases of 226,300 MT), unknown destinations (550,800 MT), Mexico (284,100 MT), Russia (270,600 MT), Indonesia (238,900 MT, including 91,000 MT switched from unknown destinations), and Taiwan (202,000 MT).
Weekly Export Details
Exports of 5,123,200 MT were primarily to China (3,821,300 MT), Mexico (281,400 MT), Japan (146,900 MT), Spain (137,800 MT), and Indonesia (135,400 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 25% ahead of year-ago compared to 15% ahead the week ended Oct. 3. USDA projects exports in 2013-14 to be 4.2% above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
<​b>2013-14: 805,200 MT
Trade Expectations
700,000 MT to 1.5 MMT
Weekly Sales Details
Net sales of 805,200 MT for 2013-14 were reported for Canada (127,500 MT), Spain (84,000 MT, including 60,000 MT switched from unknown destinations), unknown destinations (80,100 MT), and Vietnam (61,900 MT, including 45,000 MT switched from unknown destinations). Decreases were reported for Norway (8,000 MT), Mozambique (4,900 MT), Panama (4,400 MT), and Nicaragua (2,300 MT). Net sales reductions of 500 MT were reported for Canada.
Weekly Export Details
Exports of 530,800 MT were primarily to Mexico (66,500 MT), Venezuela (64,000 MT), Spain (64,000 MT), and Canada (61,400 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for 2013-14 are running 30% ahead of last year's pace, compared to 21% ahead the week ended Oct. 3. 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)
2013-14: 14,500 MT
Trade Expectations
40,000 MT to 180,000 MT
Weekly Sales Details
Net sales of 14,500 MT for the 2013-14 were reported for Mexico (6,100 MT), unknown destinations (4,400 MT), Canada (4,200 MT), and Jamaica (3,500 MT). Decreases were reported for Norway (8,000 MT).
Weekly Export Details
Exports of 22,800 MT were primarily for Mexico (15,100 MT) and Canada (7,500 MT).
Comments and Performance Indicators
Sales well below expectations. Export commitments for the new marketing year are 70% behind compared to 68% behind year-ago the week ended Oct. 3. 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: 625,600 RB
2013-14: 612,300 RB
2014-15: 13,300 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 612,300 RB for 2013-14 were reported for China (238,600 RB, including 900 RB switched from South Korea and decreases of 1,000 RB), Turkey (151,000 RB), Indonesia (51,600 RB, including 2,300 RB switched from China), Mexico (30,700 RB), and Vietnam (30,500 RB). Decreases were reported for unknown destinations (100 RB). Net sales of 13,300 RB for 2014-15 were reported for Thailand (9,300 RB) and Turkey (4,000 RB).
Weekly Export Details
Exports of 231,400 RB were to China (47,500 RB), Mexico (41,600 RB), Turkey (35,200 RB), Indonesia (18,300 RB), and Vietnam (18,200 RB).
Comments and Performance Indicators
Export commitments are 21% behind year-ago compared to 27% behind the week ended Oct. 3. USDA projects exports in 2013-14 to be 20.2% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

<​strong>2013: 55,500 MT​<​/strong>

Weekly Sales Details
Net sales of 55,500 MT for 2013 were primarily for Mexico (15,000 MT), Hong Kong (13,300 MT), South Korea (8,900 MT), Japan (6,600 MT), and Canada (4,600 MT). Net sales of 4,900 MT for 2014 were for Japan (3,800 MT), Mexico (600 MT), and Canada (400 MT).
Weekly Export Details
Exports of 35,900 MT were primarily to Hong Kong (8,300 MT), Japan (7,700 MT), Mexico (5,800 MT), South Korea (5,000 MT), and Canada (5,000 MT).
Comments and Performance Indicators
Exports compare to 10,400 MT the week ended Oct. 3. USDA projects exports in 2013 to be 1.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 23,500 MT
Weekly Sales Details
Net sales of 23,500 MT for 2013 were primarily for Mexico (7,700 MT), South Korea (3,200 MT), Japan (3,100 MT), Australia (3,000 MT), and Canada (1,900 MT).
Weekly Export Details
Exports of 26,300 MT were primarily to Mexico (9,900 MT), Japan (3,700 MT), Canada (3,000 MT), Hong Kong (2,800 MT), and South Korea (2,000 MT).
Comments and Performance Indicators
Exports compare to 8,600 MT the week ended Oct. 3. USDA projects exports in 2013 to be 5.1% below last year's total.

Link to USDA report.

 


 

 

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