Grain and Soybean Export Sales Pick Up Notably

June 27, 2013 02:52 AM
 

The Weekly Export Sales Report for the week ended June 20, 2013, reflected marked improvement in grain and soy demand as well as meat exports. Weekly corn and soybean export sales more than doubled the sales tallies from the previous week, and wheat exports also picked up notably to top expectations. Beef and pork exports surged this week. But cotton and soyoil and meal fell short of expectations.

USDA Weekly Export Sales Report
Week Ended June 20, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 490,300 MT
2012-13: 336,700 MT
2013-14: 153,600 MT

Trade Expectations

200,000 to 500,000 MT

Weekly Sales Details

Net sales of 336,700 MT for 2012-13 resulted as increases for unknown destinations (140,100 MT), Japan (72,100 MT), Venezuela (58,000 MT, including 20,000 MT switched from unknown destinations), Costa Rica (25,000 MT), and Mexico (11,400 MT), were partially offset by decreases for Canada (1,400 MT). Net sales of 153,600 MT for 2013-14 were primarily for Mexico (77,400 MT), unknown destinations (62,900 MT), and Japan (7,100 MT).

Weekly Export Details

Exports of 151,200 MT were down 53% from the previous week and 52% from the prior 4-week average. The primary destinations were Venezuela (58,000 MT), Mexico (46,400 MT), Japan (25,500 MT), and Honduras (13,900 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are 54% behind year ago compared to 55% behind last week. USDA projects exports in 2012-13 to be 54.6% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​b><​b>2013-14:​ 731,800 MT<​/b><​/strong>
Trade Expectations
300,000 to 600,000 MT
Weekly Sales Details
Net sales of 731,800 MT for delivery in the 2013-14 marketing year were primarily for Brazil (119,300 MT, including 55,000 MT switched from unknown destinations), Taiwan (113,400 MT, including 26,600 MT switched from unknown destinations), Peru (99,000 MT), Japan (89,500 MT), Nigeria (82,300 MT, including 30,000 MT switched from unknown destinations), and unknown destinations (76,600 MT, including 25,000 MT switched from China). Decreases were reported for China (24,500 MT) and Panama (1,700 MT).
Weekly Export Details

Exports of 479,000 MT were primarily to Brazil (137,300 MT), Nigeria (104,100 MT), Mexico (58,300 MT), Egypt (58,100 MT), Taiwan (27,900 MT), and Japan (25,700 MT).

Comments and Performance Indicators

Sales were well above expectations. Export commitments to start the 2013-14 marketing year are running 27% ahead of year-ago, compared to 22% ahead last week. USDA projects exports in 2013-14 to be down 3.5% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 465,600 MT
2012-13: 14,500<​/b> MT
2013-14: 451,100 MT
Trade Expectations
100,000 to 400,000 MT
Weekly Sales Details
Net sales of 14,500 MT for 2012-13 resulted as increases for Indonesia (87,700 MT, including 83,000 MT switched from unknown destinations), Malaysia (25,000 MT, including 24,000 MT switched from unknown destinations), Colombia (4,000 MT), Taiwan (3,000 MT), and Guatemala (2,600 MT), were partially offset by decreases for unknown destinations (107,000 MT) and Mexico (4,500 MT). Net sales of 451,100 MT for 2013-14 were primarily for China (360,000 MT), Mexico (53,000 MT), and Indonesia (15,000 MT).
Weekly Export Details
Exports of 223,000 MT were up noticeably from the previous week and 95% from the prior 4-week average. The primary destinations were Indonesia (87,900 MT), Mexico (61,900 MT), Japan (26,900 MT), Malaysia (25,000 MT), and Morocco (10,500 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are running 2% behind year-ago compared to 1% behind year-ago last week. USDA projects exports in 2012-13 to be 2.3% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
Combined: 9,300 MT
2012-13: 9,200
MT
2013-14: 100 MT
Trade Expectations
50,000 to 150,000 MT
Weekly Sales Details
Net sales of 9,200 MT for 2012-13--a marketing-year low--were down 65% from the previous week and 91% from the prior 4-week average. Increases reported for Trinidad (25,000 MT), Mexico (24,900 MT), Guatemala (17,000 MT, including 16,000 MT switched from unknown destinations), Venezuela (14,300 MT, including 13,000 MT switched from unknown destinations), and El Salvador (12,000 MT, including 3,000 MT switched from unknown destinations), were partially offset by decreases for Panama (36,300 MT), unknown destinations (32,900 MT), Colombia (30,000 MT), and the Dominican Republic (10,400 MT). Net sales of 100 MT for 2013-14 were for Canada.
Weekly Export Details
Exports of 140,800 MT were up noticeably from the previous week and 10% from the prior 4-week average. The primary destinations were Mexico (37,300 MT), Venezuela (28,300 MT), Guatemala (17,000 MT), Canada (16,200 MT), the Dominican Republic (10,800 MT), and Nicaragua (6,300 MT).
Comments and Performance Indicators
Sales were well below expectations. Export commitments are running 25% ahead of last year's pace compared to 29% ahead of year-ago last week. USDA projects exports in 2012-13 to be 4.9% ahead of the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b><​strong> 2012-13: 2,900 MT<​/b>

Trade Expectations
0 MT to 10,000 MT
Weekly Sales Details
Net sales of 2,900 MT for 2012-13 were up noticeably from the previous week, but down 76% and from the prior 4-week average. Increases were reported for Venezuela (2,500 MT), Canada (100 MT), and Lebanon (100 MT).
Weekly Export Details
Exports of 1,400 MT--a marketing-year--low were down 48% from the previous week and 81% from the prior 4-week average. The primary destinations were Mexico (700 MT) and Canada (600 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 84% ahead of year-ago, compared to 87% 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: 49,900 RB
2012-13: 57,000 RB
2013-14: -7,100 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 57,000 running bales for 2012-13 were down 18% from the previous week and 52% from the prior 4-week average. Increases were reported for China (24,500 RB, including 400 RB switched from South Korea), Turkey (10,400 RB), Brazil (6,400 RB), Vietnam (4,000 RB), and Japan (2,200 RB). Decreases were reported for South Korea (1,300 RB). Net sales reductions of 7,100 RB for 2013-14 resulted as increases for Indonesia (6,400 RB) and Peru (1,600 RB), were more than offset by decreases for South Korea (8,500 RB), Turkey (4,200 RB)Mexico (1,600 RB), and Morocco (1,400 RB).
Weekly Export Details
Exports of 130,500 RB were down 31% from the previous week and 48% from the prior 4-week average. The primary destinations were China (41,600 RB), Turkey (17,700 RB), Mexico (15,900 RB), Thailand (11,700 RB), and Indonesia (8,900 RB).
Comments and Performance Indicators
Export commitments are 6% ahead of year-ago compared to steady with year-ago last week. USDA projects exports in 2012-13 to be 16.1% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
<​strong>2013: 20,000 MT
Weekly Sales Details
Net sales of 20,000 MT for 2013 were primarily for Hong Kong (5,600 MT), Mexico (4,700 MT), South Korea (4,000 MT), Canada (2,100 MT), and Japan (1,900 MT).
Weekly Export Details
Exports of 15,200 MT were down 4% from the previous week, but up 7% from the prior 4-week average. The primary destinations were Japan (4,800 MT), Hong Kong (2,900 MT), Canada (2,400 MT), Mexico (2,300 MT), and South Korea (1,500 MT).
Comments and Performance Indicators
Exports compare to 9,000 MT last week. USDA projects exports in 2013 to be 5.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 18,600 MT
Weekly Sales Details
Net sales of 18,600 MT for 2013 were primarily for Mexico (9,600 MT), Japan (2,700 MT), Hong Kong (2,500 MT), Canada (1,400 MT), and Chile (500 MT).
Weekly Export Details
Exports of 10,100 MT were primarily to Mexico (2,600 MT), Japan (1,900 MT), Hong Kong (1,500 MT), Canada (1,200 MT), and South Korea (800 MT).
Comments and Performance Indicators
Exports compare to 8,300 MT last week. USDA projects exports in 2013 to be 6.6% below last year's total.

Link to USDA report.

 


 

 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close