Impressive Weekly Export Sales for Corn, Soybeans & Wheat

May 2, 2013 02:53 AM
 

The Weekly Export Sales Report for the week ended April 25, 2013, reflected solid demand for grains and soybeans. Corn export sales came within lofty expectations, while wheat and soybean export sales topped expectations by a wide margin. Cotton export sales were impressive, while pork and beef export sales fell from the week prior.

USDA Weekly Export Sales Report
Week Ended April 25, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 985,300 MT
2012-13: 329,300 MT
2013-14: 656,000 MT

Trade Expectations

800,000 to 1,000,000 MT

Weekly Sales Details

Net sales of 329,300 MT for 2012-13 were up 5% from the previous week and from the prior 4-week average. Increases reported for Japan (107,800 MT, including 50,300 MT switched from unknown destinations and decreases of 23,800 MT), Mexico (93,800 MT, including 34,100 MT switched from unknown destinations and decreases of 3,900 MT), unknown destinations (87,600 MT), Colombia (21,000 MT), Venezuela (20,000 MT), and El Salvador (6,400 MT), were partially offset by decreases for Trinidad (14,200 MT) and Honduras (3,700 MT). Net sales of 656,000 MT for 2013-14 were for China (300,000 MT), unknown destinations (295,000 MT), Japan (46,800 MT), and Trinidad (14,200 MT).

Weekly Export Details

Exports of 403,800 MT were up 25% from the previous week and 10% from the prior 4-week average. The primary destinations were Japan (218,900 MT), Mexico (138,800 MT), Jamaica (15,700 MT), Honduras (14,300 MT), and Taiwan (10,900 MT).

Comments and Performance Indicators

Sales were within 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 48.2% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 716,500 MT
2012-13: 219,200 MT
2013-14: 497,300 MT
Trade Expectations
300,000 to 500,000 MT
Weekly Sales Details
Net sales of 219,200 MT for delivery in the 2012-13 marketing year were up noticeably from the previous week, but down 14% from the prior 4-week average. Increases reported for Spain (70,000 MT, including 65,000 MT switched from unknown destinations), Egypt (64,700 MT, including 60,000 MT switched from unknown destinations), Sudan (58,800 MT, including 55,000 MT switched from unknown destinations), Nigeria (46,100 MT, including 14,000 MT switched from unknown destinations), Japan (45,300 MT), and Italy (41,400 MT), were partially offset by decreases for unknown destinations (225,700 MT), Trinidad (13,900 MT), and Honduras (2,000 MT). Net sales of 497,300 MT for delivery in the 2013-14 marketing year were primarily for Guatemala (184,000 MT), unknown destinations (100,800 MT), Thailand (55,000 MT), and Mexico (53,000 MT).
Weekly Export Details

Exports of 845,200 MT--a marketing-year high--were up 56% from the previous and 34% from the prior 4-week average. The primary destinations were Mexico (90,600 MT), Brazil (83,400 MT), Nigeria (76,100 MT), Spain (70,000 MT), Egypt (64,700 MT), and Sudan (58,800 MT).

Comments and Performance Indicators

Sales were above expectations. Export commitments for the 2012-13 marketing year are 3% behind year-ago, compared to 3% 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: 1,231,300 MT
2012-13: -109,800 MT
2013-14: 1,341,100 MT
Trade Expectations
600,000 to 900,000 MT
Weekly Sales Details
Net sales reductions of 109,800 MT for 2012-13 resulted as increases for Mexico (90,900 MT), Indonesia (84,200 MT, including 74,600 MT switched from unknown destinations), Japan (19,300 MT), Israel (18,900 MT), and Taiwan (6,900 MT), were more than offset by decreases for China (276,300 MT) and unknown destinations (56,800 MT). Net sales of 1,341,100 MT for 2013-14 were primarily for China (1,150,000 MT) and unknown destinations (171,000 MT).
Weekly Export Details
Exports of 356,800 MT were up 86% from the previous week, but down 2% from the prior 4-week average. The primary destinations were China (132,700 MT), Indonesia (102,400 MT), Mexico (75,600 MT), Taiwan (20,100 MT), Cuba (8,800 MT), and Vietnam (8,400 MT). NOTE: Accumulated exports were adjusted down for the Netherlands (31,700 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 7% ahead of year-ago compared to 9% 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)
Combined: 148,900 MT
2012-13: <​b>93,200
MT
2013-14: 55,700 MT
<​/strong>
Trade Expectations
150,000 to 250,000 MT
Weekly Sales Details
Net sales of 93,200 MT for 2012-13 were down 52% from the previous week and from the prior 4-week average. Increases were reported for unknown destinations (40,900 MT), Guatemala (11,000 MT), Canada (9,300 MT), Israel (6,500 MT), El Salvador (5,700 MT), and Sri Lanka (5,600 MT). Decreases were reported for Trinidad (4,500 MT), the Dominican Republic (700 MT), and Morocco (700 MT). Net sales of 55,700 MT for 2013-14 were reported for unknown destinations (51,000 MT), Trinidad (4,500 MT), and Canada (200 MT).
Weekly Export Details
Exports of 117,800 MT were down 34% from the previous week and 30% from the prior 4-week average. The primary destinations were Morocco (21,300 MT), Ireland (20,000 MT), the Dominican Republic (16,900 MT), Canada (14,100 MT), Mexico (13,900 MT), Jamaica (7,000 MT), and Venezuela (6,000 MT).
Comments and Performance Indicators
Sales were just below expectations. Export commitments are running 37% ahead of last year's pace compared to 37% ahead of year-ago last week. USDA projects exports in 2012-13 to be 4.0% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 1,100 MT<​/b>

Trade Expectations
0 to 15,000 MT
Weekly Sales Details
Net sales of 1,100 MT for 2012-13 resulted as increases for Mexico (1,800 MT) and Belgium (100 MT), were partially offset by decreases for Canada (800 MT).
Weekly Export Details
Exports of 3,600 MT were up 37% from the previous week, but down 75% from the prior 4-week average. The primary destinations were Mexico (2,600 MT), Canada (700 MT), Panama (100 MT), and Australia (100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 123% ahead of year-ago, compared to 132% 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: 401,900 RB
2012-13: 314,400 RB
2013-14: 87,500 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 314,400 running bales for 2012-13 were up 32% from the previous week and 69% from the prior 4-week average. Increases were reported for China (254,700 RB), Vietnam (25,400 RB), Mexico (9,800 RB), Taiwan (9,300 RB), and Indonesia (7,600 RB). Decreases were reported for Turkey (2,600 RB), South Korea (1,700 RB), and Peru (1,500 RB). Net sales of 87,500 RB for 2013-14 were primarily for China (47,500 RB) and South Korea (22,400 RB).
Weekly Export Details
Exports of 364,800 RB were up 9% from the previous week and 7% from the prior 4-week average. The primary destinations were China (146,300 RB), Turkey (89,700 RB), Indonesia (15,500 RB), Thailand (12,700 RB), Brazil (11,500 RB), and Mexico (11,500 RB).
Comments and Performance Indicators
Export commitments are 7% ahead of year-ago compared to 4% ahead last week. USDA projects exports in 2012-13 to be 11.0% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 14,300 MT
Weekly Sales Details
Net sales of 14,300 MT for 2013 were down 10% from the previous week, but up 7% from the prior 4-week average. Increases were reported for Japan (8,300 MT), Mexico (1,700 MT), South Korea (1,300 MT), Hong Kong (1,100 MT), and Canada (800 MT).
Weekly Export Details
Exports of 12,400 MT were primarily to Japan (4,500 MT), Mexico (2,500 MT), South Korea (1,400 MT), Canada (1,100 MT), and Hong Kong (900 MT).
Comments and Performance Indicators
Exports compare to 15,900 MT last week. USDA projects exports in 2013 to be 1.2% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 8,000 MT<​/b>
Weekly Sales Details
Net sales of 8,000 MT for 2013 were primarily for Mexico (3,200 MT), Japan (1,100 MT), Hong Kong (1,000 MT), Canada (900 MT), and Ukraine (600 MT).
Weekly Export Details
Exports of 7,300 MT were primarily to Mexico (3,100 MT), Canada (1,100 MT), Japan (1,000 MT), South Korea (400 MT), and Hong Kong (400 MT).
Comments and Performance Indicators
Exports compare to 12,200 MT last week. USDA projects exports in 2013 to be 3.3% below last year's total.

Link to USDA report.

 


 

 

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