Highly Disappointing Corn Export Sales

June 6, 2013 02:56 AM
 

The Weekly Export Sales Report for the week ended May 30, 2013, reflected a marked slowdown in corn export sales from an already slow pace. China was notably absent from the list of buyers. Meanwhile, wheat export sales topped expectations as strong 2013-14 sales more than made up for a net sales reduction for 2012-13. Weekly soybean and soy sales were solid, and cotton export sales surged. Beef and pork exports slowed notably from the week prior.

USDA Weekly Export Sales Report
Week Ended May 30, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 158,800 MT
2012-13: 107,200 MT
2013-14: 51,600 MT

Trade Expectations

500,000 to 800,000 MT

Weekly Sales Details

Net sales of 107,200 MT for 2012-13 were up 25% from the previous week, but down 19% from the prior 4-week average. Increases reported for Japan (165,800 MT, including 86,700 MT switched from unknown destinations and decreases of 4,600 MT), Mexico (7,400 MT), Canada (5,400 MT), and Venezuela (5,000 MT), were partially offset by decreases for unknown destinations (77,600 MT). Net sales of 51,600 MT for 2013-14 were for Mexico.

Weekly Export Details

Exports of 359,800 MT were up 1% from the previous week and 29% from the prior 4-week average. The primary destinations were Japan (202,700 MT), Mexico (107,300 MT), Venezuela (20,000 MT), and Jamaica (18,500 MT).

Comments and Performance Indicators

Sales were well below expectations. Export commitments for the new marketing year are 55% behind year ago compared to 55% behind last week. USDA projects exports in 2012-13 to be 51.4% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 631,700 MT
2012-13: -33,200 MT
2013-14: 664,900 MT
<​/b>
Trade Expectations
300,000 to 600,000 MT
Weekly Sales Details
Net sales reductions of 33,200 MT for delivery in the 2012-13 marketing year were down noticeably from the previous week and from the prior 4-week average. Increases reported for Chile (64,900 MT), Brazil (41,500 MT, including 40,000 MT switched from unknown destinations), Portugal (13,900 MT, including 15,000 MT switched from unknown destinations and decreases of 1,100 MT), the Philippines (12,600 MT, including 10,000 MT switched from unknown destinations), Algeria (12,000 MT), and Israel (11,600 MT), were more than offset by decreases for unknown destinations (150,000 MT), South Korea (24,000 MT), Mexico (23,000 MT), and the French West Indies (4,000 MT). Net sales of 664,900 MT for delivery in the 2013-14 marketing year were primarily for Mexico (117,600 MT), unknown destinations (112,500 MT), South Korea (93,500 MT), Japan (78,300 MT), and Brazil (75,000 MT).
Weekly Export Details

Exports of 528,500 MT were down 11% from the previous week and 9% from the prior 4-week average. The primary destinations were Japan (67,300 MT), Chile (66,900 MT), Mexico (58,800 MT), Nigeria (43,400 MT), Israel (36,200 MT), and Peru (33,000 MT).

Comments and Performance Indicators

Sales were above expectations. Export commitments for the 2012-13 marketing year are 4% behind year-ago, compared to 3% behind last week. USDA projects exports in 2012-13 to be up 16.8% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 638,300 MT
2012-13: <​strong>48,400 MT
2013-14: 589,900 MT
Trade Expectations
300,000 to 700,000 MT
Weekly Sales Details
Net sales of 48,400 MT for 2012-13 were up noticeably from the previous week, but down 32% from the prior 4-week average. Increases reported for Germany (66,000 MT, including 60,000 MT switched from the Netherlands), Mexico (21,700 MT), Taiwan (10,700 MT), Morocco (10,000 MT), and Vietnam (9,300 MT), were partially offset by decreases for the Netherlands (60,000 MT) and Syria (27,000 MT). Net sales of 589,900 MT for 2013-14 were primarily for China (486,300 MT), unknown destinations (60,000 MT), Mexico (26,900 MT), and Malaysia (10,000 MT).
Weekly Export Details
Exports of 122,700 MT were up 9% from the previous week, but down 11% from the prior 4-week average. The primary destinations were Germany (66,000 MT), Mexico (11,400 MT), Israel (9,400 MT), Japan (8,900 MT), and Vietnam (6,000 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are running 1% ahead of year-ago compared to 1% ahead last week. USDA projects exports in 2012-13 to be 0.9% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
<​b>Combined: 271,300 MT
2012-13: 134,200 MT
2013-14: 137,100 MT
Trade Expectations
75,000 to 175,000 MT
Weekly Sales Details
Net sales of 134,200 MT for 2012-13 were down 10% from the previous week, but up 38% from the prior 4-week average. Increases were reported for unknown destinations (64,500 MT), Colombia (27,000 MT), Venezuela (11,000 MT), the Philippines (9,800 MT), Canada (9,600 MT), and Israel (8,000 MT). Decreases were reported for Sri Lanka (2,100 MT). Net sales of 137,100 MT for 2013-14 were for unknown destinations (135,000 MT), the Philippines (2,000 MT), and Canada (100 MT).
Weekly Export Details
Exports of 110,800 MT were down 38% from the previous week and 16% from the prior 4-week average. The primary destinations were Canada (24,200 MT), Mexico (23,700 MT), Venezuela (23,000 MT), Guatemala (9,500 MT), Israel (6,500 MT), and Jamaica (6,500 MT).
Comments and Performance Indicators
Sales were well above expectations. Export commitments are running 35% ahead of last year's pace compared to 34% ahead of year-ago last week. USDA projects exports in 2012-13 to be 1.6% ahead of the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b> 2012-13: 30,500 MT​<​/strong>

Trade Expectations
30,000 MT to 40,000 MT
Weekly Sales Details
Net sales of 30,500 MT for 2012-13 resulted as increases for Germany (30,000 MT) and Mexico (1,000 MT), were partially offset by decreases for Canada (700 MT).
Weekly Export Details
Exports of 1,900 MT--a marketing-year low--were down 84% from the previous week and 82% from the prior 4-week average. The primary destinations were Mexico (900 MT), Canada (800 MT), and Trinidad (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 95% ahead of year-ago, compared to 94% 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: 322,600 RB
2012-13: 184,200 RB
2013-14: 138,400 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 184,200 running bales for 2012-13 were up 57% from the previous week and 80% from the prior 4-week average. Increases were reported for Vietnam (65,900 RB), China (36,700 RB), Turkey (25,800 RB), Taiwan (15,500 RB), and Indonesia (12,400 RB). Net sales of 138,400 RB for 2013-14 were reported primarily for China (98,100 RB), Vietnam (16,900 RB), and Mexico (14,900 RB).
Weekly Export Details
Exports of 276,600 RB were down 8% from the previous week and 1% from the prior 4-week average. The primary destinations were China (115,100 RB), Turkey (41,900 RB), Mexico (17,200 RB), Vietnam (15,900 RB), Thailand (15,100 RB), and Indonesia (10,100 RB).
Comments and Performance Indicators
Export commitments are 6% ahead of year-ago compared to 6% ahead last week. USDA projects exports in 2012-13 to be 13.2% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 12,800 MT
Weekly Sales Details
Net sales of 12,800 MT for 2013 were primarily for Japan (7,000 MT), Canada (2,300 MT), Mexico (1,600 MT), South Korea (900 MT), and Hong Kong (600 MT).
Weekly Export Details
Exports of 11,600 MT were down 19% from the previous week and 10% from the prior 4-week average. The primary destinations were Japan (3,900 MT), Mexico (2,300 MT), Hong Kong (1,800 MT), Canada (1,700 MT), and South Korea (1,100 MT).
Comments and Performance Indicators
Exports compare to 19,000 MT last week. USDA projects exports in 2013 to be 1.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013​: 6,600 MT<​/b>
Weekly Sales Details
Net sales of 6,600 MT for 2013 were primarily for Japan (2,100 MT), China (1,100 MT), Australia (700 MT, including late reporting of 45 MT), Hong Kong (600 MT), and Canada (400 MT, including late reporting of 21 MT).
Weekly Export Details
Exports of 8,700 MT were primarily to Mexico (2,600 MT), Japan (1,100 MT), Canada (1,000 MT), South Korea (900 MT), and Hong Kong (700 MT).
Comments and Performance Indicators
Exports compare to 15,100 MT last week. USDA projects exports in 2013 to be 6.6% below last year's total.

Link to USDA report.

 


 

 

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