Huge Soybean Export Sales, Corn Sales Also Top Expectations

August 15, 2013 02:58 AM
 

The Weekly Export Sales Report for the week ended Aug. 8, 2013, signals exporters see corn and soybean prices as a value as both tallies topped expectations by a wide margin. Soymeal export sales topped expectations as well while weekly soyoil sales met expectations. Beef and pork exports also impressed with marketing year highs.

USDA Weekly Export Sales Report
Week Ended Aug. 8, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 777,000 MT
2012-13: -59,100 MT
2013-14:
836,100 MT

Trade Expectations

300,000 to 600,000 MT

Weekly Sales Details

Net sales reductions of 59,100 MT for 2012-13 resulted as increases for China (62,500 MT), Mexico (28,800 MT), Guatemala (26,000 MT, including 18,700 MT switched from unknown destinations), El Salvador (11,100 MT, including 10,200 MT switched from unknown destinations), and Taiwan (9,500 MT), were more than offset by decreases for Japan (103,100 MT) and unknown destinations (100,700 MT). Net sales of 836,100 MT for 2013-14 were primarily for unknown destinations (348,000 MT), Mexico (308,800 MT), and Japan (100,000 MT).

Weekly Export Details

Exports of 377,400 MT were down 12 percent from the previous week, but up 7 percent from the prior 4-week average. The primary destinations were Japan (212,400 MT), Mexico (93,500 MT), Guatemala (20,200 MT), and Venezuela (20,000 MT).

Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are 52% behind year ago compared to 52% behind last week. USDA projects exports in 2012-13 to be 53.7% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 495,600 MT
2013-14: 490,100 MT
2014-15: 5,500 MT
​<​/strong>
Trade Expectations
600,000 to 800,000 MT
Weekly Sales Details
Net sales of 490,100 MT for delivery in the 2013-14 marketing year were down 33 percent from the previous week and 34 percent from the prior 4-week average. Increases were reported for Brazil (140,700 MT, including 50,000 MT switched from unknown destinations and decreases of 1,800 MT), Sri Lanka (66,500 MT, including 55,000 MT switched from unknown destinations), Nigeria (63,100 MT, including 10,000 MT switched from unknown destinations), China (60,900 MT, including 60,000 MT switched from unknown destinations and decreases of 2,200 MT), Japan (59,600 MT), and Yemen (50,000 MT). Decreases were reported for unknown destinations (174,000 MT). Net sales of 5,500 MT for 2014-15 were for the Leeward Windward Islands.
Weekly Export Details

Exports of 709,900 MT were down 8 percent from the previous week, but up 5 percent from the prior 4-week average. The primary destinations were Brazil (201,400 MT), China (130,100 MT), Mexico (109,800 MT), Chile (69,800 MT), Sri Lanka (66,500 MT), Nigeria (34,000 MT), and South Korea (25,500 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the 2013-14 marketing year are running 41% ahead of year-ago, compared to 42% ahead last week. USDA projects exports in 2013-14 to be up 9.2% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 1,882,900 MT
2012-13: -10,500 MT
2013-14:
1,893,400 MT
Trade Expectations
600,000 to 1,100,000 MT
Weekly Sales Details
Net sales reductions of 10,500 MT for 2012-13 resulted as increases for China (47,800 MT), Taiwan (30,100 MT), Japan (15,700 MT, including 9,000 MT switched from unknown destinations), Vietnam (13,400 MT), and Thailand (8,000 MT), were more than offset by decreases for unknown destinations 127,800 MT and South Korea (2,400 MT). Net sales of 1,893,400 MT for 2013-14 were primarily for China (1,333,000 MT), unknown destinations (417,000 MT), and Japan (60,300 MT).
Weekly Export Details
Exports of 94,100 MT were up 90 percent from the previous week and 14 percent from the prior 4-week average. The primary destinations were Japan (54,300 MT), Mexico (30,800 MT), Vietnam (3,900 MT), Indonesia (1,900 MT), and Taiwan (1,800 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 4% behind year-ago compared to 4% behind year-ago last week. USDA projects exports in 2012-13 to be 3.7% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
<​b>Combined: 243,500 MT
2012-13: 122,400 MT
2013-14:
121,100 MT
Trade Expectations
100,000 to 225,000 MT
Weekly Sales Details
Net sales of 122,400 MT for 2012-13 were up 83 percent from the previous week and 61 percent from the prior 4-week average. Increases were reported for unknown destinations (42,600 MT), Mexico (17,900 MT), the Philippines (11,800 MT), El Salvador (9,100 MT, including 5,600 MT switched from unknown destinations), Canada (8,000 MT), and Guatemala (7,900 MT, including 6,800 MT switched from unknown destinations). Net sales of 121,100 MT for 2013-14 were primarily for unknown destinations (57,500 MT), Turkey (23,000 MT), Jamaica (15,000 MT), and the Dominican Republic (15,000 MT). Decreases were reported for El Salvador (3,200 MT) and Israel (3,000 MT).
Weekly Export Details
Exports of 144,000 MT were up 53 percent from the previous week and 11 percent from the prior 4-week average. The primary destinations were Venezuela (64,900 MT), Mexico (23,400 MT), Canada (17,100 MT), Israel (8,400 MT), and Guatemala (7,000 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments are running 18% ahead of last year's pace compared to 18% ahead of year-ago last week. USDA projects exports in 2012-13 to be up 11.9% from the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

Combined: 7,800 MT 2012-13: 1,800 MT 2013-14: 6,000<​/b>

Trade Expectations
0 MT to 15,000 MT
Weekly Sales Details
Net sales of 1,800 MT for 2012-13 resulted as increases for Mexico (2,100 MT) and Trinidad (200 MT), were partially offset by decreases for Canada (600 MT). Net sales of 6,000 MT for 2013-14 were reported for Mexico.
Weekly Export Details
Exports of 5,000 MT were up 53 percent from the previous week and 22 percent from the prior 4-week average. The primary destinations were Nicaragua (3,500 MT), Canada (800 MT), Mexico (400 MT), Trinidad (100 MT), and Australia (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 61% ahead of year-ago, compared to 61% ahead last week. USDA projects exports in 2012-13 to be 46.9% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)

<​b><​strong>Combined: 43,800 MT 2013-14: 38,500 RB 2014-15: 5,300 RB<​/strong>​<​/b>
Trade Expectations
NA
Weekly Sales Details
Net sales of 38,500 RB for 2013-14 resulted as increases for Mexico (21,800 RB), Indonesia (9,400 RB, including 1,700 RB switched from Japan), Taiwan (8,700 RB), Turkey (8,400 RB) and Vietnam (7,500 RB), were partially offset by decreases for Japan (22,500 RB), Peru (3,000 RB), and China (900 RB). Net sales of 5,300 RB for 2014-15 were for Mexico (3,500 RB) and Indonesia (1,800 RB).
Weekly Export Details
Exports of 279,200 RB were primarily to China (68,000 RB), Turkey (39,200 RB), Mexico (37,800 RB), Vietnam (36,300 RB), and Thailand (18,700 RB).
Comments and Performance Indicators
Export commitments are 22% behind year-ago compared to 22% behind year-ago last week. USDA projects exports in 2013-14 to be 19.1% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 12,700 MT<​/b>
Weekly Sales Details
Net sales of 12,700 MT for 2013 were primarily for Japan (4,600 MT), Mexico (3,100 MT), South Korea (1,900 MT), Canada (1,500 MT), and Hong Kong (500 MT).
Weekly Export Details
Exports of 16,100 MT--a marketing-year high--were up 11 percent from the previous week and 6 percent from the prior 4-week average. The primary destinations were Japan (5,000 MT), Mexico (2,500 MT), Canada (2,400 MT), Hong Kong (2,400 MT), and South Korea (2,000 MT).
Comments and Performance Indicators
Exports compare to 8,900 MT last week. USDA projects exports in 2013 to be 3.7% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
2013: 8,500 MT<​/b>
Weekly Sales Details
Net sales of 8,500 MT for 2013 were primarily for Japan (3,300 MT), Ukraine (2,400 MT), Canada (700 MT), Chile (500 MT), and Hong Kong (400 MT).
Weekly Export Details
Exports of 12,400 MT--a marketing-year high--were up 59 percent from the previous week and 42 percent from the prior 4-week average. The primary destinations were Mexico (3,100 MT), Japan (2,500 MT), Ukraine (2,400 MT), Canada (1,200 MT), and Hong Kong (1,200 MT).
Comments and Performance Indicators
Exports compare to 4,800 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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