Grain and Soybean Export Sales Disappoint

March 21, 2013 02:48 AM
 

The Weekly Export Sales Report for the week ended March 14, 2013, reflected disappointing corn, soybean and wheat export tallies. In contrast, sales of soymeal came within expectations while soyoil sales topped expectations. Beef and cotton export sales were decent, though not impressive.

USDA Weekly Export Sales Report
Week Ended March 14, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 275,500 MT
2012-13: 92,200 MT
2013-14: 183,300 MT

Trade Expectations

300,000 to 600,000 MT

Weekly Sales Details

Net sales of 92,200 MT for the 2012-13 marketing year were down 67% from the previous week and 59% from the prior 4-week average. Increases reported for China (110,000 MT, including 120,000 MT switched from unknown destinations and decreases of 11,000 MT), Japan (86,000 MT, including 39,800 MT switched from unknown destinations and decreases of 1,500 MT), Mexico (53,500 MT, including 34,100 MT switched from unknown destinations and decrease of 1,000 MT), Brazil (27,500 MT), and Taiwan (8,200 MT), were partially offset by decreases for unknown destinations (178,800 MT) Panama (10,400 MT), and the Leeward Windward Islands (9,700 MT). Net sales of 183,300 MT for the 2013-14 marketing year were primarily for unknown destinations (110,000 MT) and China (67,000 MT).

Weekly Export Details

Exports of 418,500 MT were up 3% from the previous week and 26% from the prior 4-week average. The primary destinations were Japan (137,100 MT), Mexico (118,500 MT), China (109,000 MT), Guatemala (15,200 MT), and Taiwan (12,400 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are 55% behind year ago compared to 54% behind last week. USDA projects exports in 2012-13 to be 46.5% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​strong>Combined: 573,300 MT
2012-13: 484,500 MT
2013-14: 88,800 MT
Trade Expectations
800,000 to 1,100,000 MT
Weekly Sales Details
Net sales of 484,500 MT for the 2012-13 marketing year were down 46% from the previous week and 25% from the prior 4-week average. Increases reported for Nigeria (93,000 MT, including 34,600 MT switched from unknown destinations), Spain (69,200 MT, including 63,000 MT switched from unknown destinations), Turkey (65,600 MT, including 60,000 MT switched from unknown destinations), Japan (65,400 MT), Yemen (55,000 MT, switched from unknown destinations), and China (55,000 MT), were partially offset by decreases for unknown destinations (100,500 MT). Net sales of 88,800 MT for the 2013-14 marketing year were reported primarily for unknown destinations (30,000 MT), Mexico (28,900 MT), South Korea (27,500 MT), and Japan (20,000 MT). Decreases were reported for China (55,000 MT).
Weekly Export Details
Exports of 636,800 MT were down 19% from the previous week and 4% from the prior 4-week average. The primary destinations were Nigeria (111,900 MT), Spain (69,200 MT), Egypt (68,000 MT), Turkey (65,600 MT), Japan (59,400 MT), the Philippines (55,000 MT), and Taiwan (46,400 MT).
Comments and Performance Indicators
Sales were well below expectations. Export commitments for the 2012-13 marketing year are 3% behind year-ago, compared to 2% behind last week. USDA projects exports in 2012-13 to be down 2.4% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 341,800 MT
2012-13: 107,800 MT
2013-14: 234,000 MT
Trade Expectations
600,000 to 800,000 MT
Weekly Sales Details
Net sales of 107,800 MT for the 2012-13 marketing year were down 84% from the previous week and 71% from the prior 4-week average. Increases were reported for China (127,300 MT, including 60,000 MT switched from Hong Kong), Mexico (38,000 MT), Taiwan (27,000 MT), Indonesia (22,500 MT), Vietnam (15,200 MT), and Morocco (12,000 MT). Decreases were reported for unknown destinations (93,000 MT) and Hong Kong (60,000 MT). Net sales of 234,000 MT for delivery in the 2013-14 marketing year were primarily for China (225,000 MT).
Weekly Export Details
Exports of 226,800 MT were down 70% from the previous week and 74% from the prior 4-week average. The primary destinations were China (77,500 MT), Indonesia (31,500 MT), Mexico (29,200 MT), Taiwan (26,900 MT), Egypt (19,800 MT), Vietnam (8,800 MT), and Cuba (8,800 MT).
Comments and Performance Indicators

Sales were well below expectations. Export commitments for the new marketing year are running 15% ahead of year-ago compared to 16% ahead last week. USDA projects exports in 2012-13 to be 1.2% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
2012-13: 143,400<​/b> MT<​/strong>
Trade Expectations
50,000 to 150,000 MT
Weekly Sales Details
Net sales of 143,400 MT for the 2012-13 marketing year were up noticeably from the previous week, but down 13% from the prior 4-week average. Increases were reported for Mexico (80,000 MT), Guatemala (24,800 MT, including 8,900 MT switched from unknown destinations and decreases of 500 MT), Egypt (17,600 MT, including 16,000 MT switched from unknown destinations), Canada (10,400 MT), and the Philippines (9,100 MT). Decreases were reported for unknown destinations (38,800 MT).
Weekly Export Details
Exports of 183,600 MT were down 32% from the previous week and 34% from the prior 4-week average. The primary destinations were the Philippines (38,600 MT), Spain (22,700 MT), Canada (17,900 MT), Egypt (17,600 MT), Mexico (15,700 MT), and Colombia (15,700 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 42% ahead of last year's pace compared to 41% ahead of year-ago last week. USDA projects exports in 2012-13 to be 8.6% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 19,600 MT​<​/strong>

Trade Expectations
0 to 15,000 MT
Weekly Sales Details
Net sales of 19,600 MT for the 2012-13 were up noticeably from the previous week and from the previous 4-week average. Increases were reported for Canada (13,200 MT), the Dominican Republic (3,800 MT), Mexico (1,700 MT), and Colombia (500 MT).
Weekly Export Details
Exports of 11,700 MT were up 21% from the previous week, but down 63% from the prior 4-week average. The primary destinations were Mexico (4,300 MT), Colombia (3,500 MT)the Dominican Republic (2,700 MT), and Canada (800 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments for the new marketing year are 146% ahead of year-ago, compared to 171% ahead last week. USDA projects exports in 2012-13 to be 57.1% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 188,300 RB
2012-13: 114,100 RB
2013-14: 74,200 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 114,100 running bales for the 2012-13 marketing year were down 39% from the previous week and 31% from the prior 4-week average. Increases were reported for Turkey (37,400 RB), China (28,600 RB), Vietnam (17,300 RB), Indonesia (6,300 RB), and Japan (4,700 RB). Decreases were reported for Pakistan (1,400 RB), El Salvador (500 RB), and Peru (500 RB). Net sales of 74,200 RB for delivery in the 2013-14 marketing year were primarily for Mexico (35,600 RB), Thailand (16,300 RB), and South Korea (15,300 RB).
Weekly Export Details
Exports of 278,400 RB were down 21% from the previous week and 34% from the prior 4-week average. The primary destinations were China (86,800 RB), Turkey (50,000 RB), Vietnam (31,700 RB), Pakistan (29,200 RB), Mexico (15,500 RB), and Thailand (12,700 RB).
Comments and Performance Indicators
Export commitments are 4% behind year-ago compared to 3% behind last week. USDA projects exports in 2012-13 to be 8.9% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 15,300 MT<​/strong>
Weekly Sales Details
Net sales of 15,300 MT were down 51% from the previous week and 16% from the prior 4-week average. Increases were reported for Japan (5,200 MT), Canada (3,000 MT), Mexico (2,400 MT), Hong Kong (1,200 MT), and South Korea (900 MT).
Weekly Export Details
Exports of 15,500 MT were primarily to Japan (3,500 MT), Canada (3,300 MT), Mexico (3,000 MT), South Korea (1,500 MT), and Vietnam (1,000 MT).
Comments and Performance Indicators
Exports compare to 31,500 MT last week. USDA projects exports in 2013 to be 0.6% below last year's total.

Link to USDA report.

 


 

 

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