Grain & Soybean Export Sales Slow over the Holidays

January 9, 2014 01:58 AM
 

The Weekly Export Sales Report for the week ended Jan. 2, 2014, showed a slowdown in demand for grain and soybeans over the holidays, which is not unusual. Cotton and beef export sales were also on the light side. In contrast, pork export sales surged that week, with Mexico as the lead buyer.

USDA Weekly Export Sales Report
Week Ended Jan. 2, 2014

Corn

Actual Sales (in metric tons -- MT)

<​b><​strong>2013-14: 155,300 MT<​/strong>

Trade Expectations

200,000 MT to 700,000 MT

Weekly Sales Details

Net sales of 155,300 MT for2013-14 were up 1% from the previous week, but down 79% from the prior 4-week average. Increases were reported for Japan (100,200 MT, including 63,900 MT switched from China and 35,300 MT switched from unknown destinations), Mexico (70,700 MT), South Korea (55,000 MT, switched from China) and China (6,100 MT). Decreases were reported for unknown destinations (88,300 MT).

Weekly Export Details

Exports of 603,300 MT were down 29% from the previous week and 34% from the prior 4-week average. The primary destinations were Japan (160,200 MT), China (155,600 MT), Mexico (151,000 MT), Saudi Arabia (63,100 MT), and Colombia (36,300 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the 2013-14 marketing year are running 124% ahead of year-ago, which compares to 124% ahead of year ago the week before. USDA projects exports in 2013-14 to be 98.4% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)

Combined: 294,800 MT

 

2013-14: 110,800 MT

2014-15: 184,000

Trade Expectations
200,000 MT to 500,000 MT
Weekly Sales Details
Net sales of 110,800 MT--a marketing-year low--for delivery during the2013-14 marketing year were down 55% from the previous week and 76% from the prior 4-week average. Increases were reported for the Philippines (62,200 MT, including 45,000 MT switched from unknown destinations), Italy (31,500 MT), Brazil (30,000 MT, including 25,000 MT switched from unknown destinations), Japan (21,700 MT), and Mexico (11,400 MT). Decreases were reported for unknown destinations (60,000 MT). Net sales of 184,000 MT for2014-15 were reported for unknown destinations (160,000 MT) and China (24,000 MT).
Weekly Export Details
Exports of 436,500 MT were up 55% from the previous week and 4% from the prior 4-week average. The primary destinations were the Philippines (108,400 MT), Japan (98,800 MT), Taiwan (57,100 MT), Brazil (55,000 MT), and Italy (31,900 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 27% ahead of year-ago, compared to 28% ahead the week prior. 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: 155,500 MT
Trade Expectations
450,000 MT to 950,000 MT
Weekly Sales Details
Net sales of 155,500 MT--a marketing-year low--for2013-14 were down 84% from the previous week and 80% from the prior 4-week average. Increases were reported for China (387,900 MT, including 299,800 MT switched from unknown destinations and decreases of 49,200 MT), the Netherlands (65,300 MT, including 70,000 MT switched from unknown destinations and decreases of 4,700 MT), Tunisia (30,000 MT), Indonesia (22,900 MT), and Japan (15,500 MT, including 14,000 MT switched from unknown destinations and decreases of 400 MT). Decreases were reported for unknown destinations (394,800 MT), Singapore (8,900 MT), and Mexico (5,000 MT).
Weekly Export Details
Exports of 1,675,300 MT were up 10% from the previous week and 9% from the prior 4-week average. The primary destinations were China (1,217,800 MT), Thailand (73,400 MT), Saudi Arabia (72,600 MT), the Netherlands (65,300 MT), and Mexico (51,300 MT).
Comments and Performance Indicators

Sales were well below expectations. Export commitments for the new marketing year are running 31% ahead of year-ago compared to 32% ahead the week prior. USDA projects exports in 2013-14 to be 11.7% above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

<​strong>2013-14: 62,8​00 MT​<​/b>

Trade Expectations
50,000 MT to 175,000 MT
Weekly Sales Details
Net sales of 62,800 MT--a marketing-year low--for 2013-14 resulted as increases for Venezuela (35,700 MT), Syria (29,600 MT, switched from unknown destinations), Turkey (25,400 MT, including 14,000 MT switched from China and 10,400 MT switched from unknown destinations and decreases of 400 MT), Denmark (25,000 MT, switched from unknown destinations), and Morocco (15,000 MT), were partially offset by decreases for unknown destinations (89,000 MT), China (14,000 MT), and Colombia (7,300 MT).
Weekly Export Details
Exports of 341,900 MT were up 46% from the previous week and 22% from the prior 4-week average. The primary destinations were Denmark (49,000 MT), Egypt (41,200 MT), Venezuela (29,700 MT), Syria (29,600 MT), and Spain (28,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for 2013-14 are running 5% ahead of last year's pace, compared to 6% ahead last week. USDA in September projected exports in 2013-14 will be down 7.2% from the previous marketing year.

Soyoil

 
Actual Sales (in metric tons -- MT)

 

2013-14: 33,600 MT

Trade Expectations
0 MT to 60,000 MT
Weekly Sales Details
Net sales of 33,600 MT for2013-14 were primarily for China (35,000 MT, switched from unknown destinations), Egypt (9,000 MT, switched from India), Peru (5,200 MT), and Nicaragua (2,500 MT). Decreases were reported for India (20,000 MT).
Weekly Export Details
Exports of 3,500 MT were down 90% from the previous week and 87% from the prior 4-week average. The primary destinations were Mexico (2,700 MT), Canada (500 MT), and Panama (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 41% behind compared to 40% behind year-ago last week. USDA in September projected exports in 2013-14 to be 5.5% behind the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
 
2013-14: 68,100 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 68,100 RB for2013-14 were down 21% from the previous week and 62% from the prior 4-week average. Increases were reported for Turkey (16,300 RB), Taiwan (15,000 RB), Pakistan (12,900 RB), South Korea (4,800 RB), and China (4,500 RB). Decreases were reported for Japan (300 RB).
Weekly Export Details
Exports of 211,300 RB were up 48% from the previous week and 37% from the prior 4-week average. The primary destinations were Turkey (46,200 RB), China (35,400 RB), Vietnam (32,700 RB), Thailand (17,800 RB), and Mexico (15,700 RB).
Comments and Performance Indicators
Export commitments are 21% behind year-ago compared to 20% behind the week prior. USDA projects exports in 2013-14 to be 20.2% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

Combined: 6,400 MT

<​strong><​strong><​b>2013: 600 MT<​/b>

2014: 5,800 MT

Weekly Sales Details
Net sales of 5,800 MT for the 2014 marketing year (which began Jan. 1) were primarily for Hong Kong (2,600 MT), Japan (1,100 MT), Canada (600 MT), and Taiwan (500 MT). Exports of 2,300 MT were mainly for Hong Kong (600 MT), South Korea (600 MT), and Japan (400 MT). Net sales of 600 MT for Dec. 27-31 resulted as increases for Mexico (500 MT), South Korea (400 MT), Canada (300 MT), and Taiwan (100 MT), were partially offset by decreases for Japan (600 MT). A total of 30,600 MT were outstanding on Dec. 31 and carried over to the 2014 marketing year.
Weekly Export Details
Exports of 8,700 MT were for Dec. 27-31, were for Japan (2,000 MT), South Korea (1,900 MT), and Mexico (1,800 MT). Accumulated exports for 2013 of 695,000 MT were down 5% from the 731,800 MT exported during the previous year.
Comments and Performance Indicators
Exports compare to 11,700 MT the week before. USDA projects exports in 2014 to be 7.7% below last year's total.

Pork

Actual Sales (in metric tons -- MT)

Combined: 22,200 MT

<​b><​strong>2013: 1,100 MT

2014: 21,100 MT

Weekly Sales Details

Net sales of 21,100 MT for the 2014 marketing year (which began Jan. 1) were primarily for Mexico (6,300 MT), South Korea (4,800 MT), Canada (2,300 MT), and Australia (2,100 MT). Net sales of 1,100 MT for Dec. 27-31 were for Mexico (700 MT), Japan (300 MT), and Honduras (100 MT).

Weekly Export Details
Exports of 1,900 MT were mainly for Japan (700 MT), Mexico (500 MT), and South Korea (200 MT). A total of 24,200 MT were outstanding on Dec. 31 and carried over to the 2014 marketing year. Exports of 6,500 MT were for Dec. 27-31, were for Mexico (2,700 MT), Japan (1,100 MT), and South Korea (700 MT). Accumulated exports for 2013 of 382,300 MT were reported during the year.
Comments and Performance Indicators
Exports compare to 16,900 MT the week prior. USDA projects exports in 2013 to be 4.1% below last year's total.

Link to USDA report.

 


 

 

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