New-Crop Corn & Soybean Sales Top 1 MMT

August 1, 2013 03:16 AM
 

 

 

The Weekly Export Sales Report for the week ended July 25, 2013, showed strong exports of corn with new-crop sales in excess of 1.2 MMT with Japan as the lead buyer. Wheat sales were within expectations, with soybean sales exceeding traders' guesses. Soymeal topped expectations by an impressive 56,000 MT with Canada as the lead buyer. Cotton export sales were again light. Beef exports improved by 2% from the previous week and pork sendouts nearly doubled over the previous week's tally.

USDA Weekly Export Sales Report
Week Ended July 25, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 1,224,200 MT
2012-13: 134,000
M​T
2013-14:
1,091,200 MT

Trade Expectations

475,000 to 875,000 MT

Weekly Sales Details

Net sales of 134,000 MT for 2012/2013 resulted as increases for Japan (98,000 MT, including 48,400 MT switched from unknown destinations and decreases of 1,700 MT), Taiwan (39,400 MT), China (25,000 MT), Venezuela (17,800 MT, including 19,000 MT switched from unknown destinations and decreases of 3,200 MT), and Mexico (15,400 MT), were partially offset by decreases for unknown destinations (59,300 MT) and the French West Indies (4,000 MT). Net sales of 1,091,200 MT for 2013/2014 were primarily for Mexico (393,800 MT), unknown destinations (306,200 MT), China (208,600 MT), and Japan (123,300 MT).

Weekly Export Details

Exports of 328,100 MT were up 37 percent from the previous week and 4 percent from the prior 4-week average. The primary destinations were Japan (127,000 MT), Mexico (118,800 MT), Venezuela (62,800 MT), and El Salvador (7,000 MT).

Comments and Performance Indicators

Sales were within 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 54.6% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​b><​b>2013-14: 596,900 MT
Trade Expectations
500,000 to 700,000 MT
Weekly Sales Details
Net sales of 596,900 MT for delivery in the 2013/2014 marketing year were down 10 percent from the previous week and 36 percent from the prior 4-week average. Increases were reported for China (129,900 MT, including 110,000 MT switched from unknown destinations and decreases of 1,400 MT), Nigeria (95,000 MT, including 8,800 MT switched from unknown destinations), Brazil (88,300 MT), Mexico (80,800 MT), and Colombia (70,300 MT). Decreases were reported for unknown destinations (122,700 MT), Bolivia (7,000 MT), Indonesia (3,000 MT), and Chile (2,000 MT).
Weekly Export Details

Exports of 627,400 MT were up 11 percent from the previous week, but down 7 percent from the prior 4-week average. The primary destinations were to China (186,300 MT), Mexico (118,200 MT), Nigeria (95,500 MT), the Philippines (55,000 MT), Japan (45,900 MT), Colombia (33,500 MT), and Brazil (33,000 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 44% ahead of year-ago, compared to 45% ahead last week. USDA projects exports in 2013-14 to be up 6.5% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 1,109,400 MT
2012-13: 78,500 MT
2013-14: 1,030,900 MT<​/b>
Trade Expectations
400,000 to 800,000 MT
Weekly Sales Details
Net sales of 78,500 MT for 2012/2013 were down 39 percent from the previous week, but up 9 percent from the prior 4-week average. Increases were reported for Taiwan (49,800 MT), Mexico (12,000 MT), Indonesia (9,900 MT), Vietnam (3,500 MT), and Japan (2,400 MT). Net sales of 1,030,900 MT for 2013/2014 were primarily for China (558,000 MT), unknown destinations (302,000 MT), South Korea (55,000 MT), and Mexico (46,000 MT).
Weekly Export Details
Exports of 77,500 MT were down 6 percent from the previous week and 22 percent from the prior 4-week average. The primary destinations were Japan (33,100 MT), Mexico (26,900 MT), Taiwan (6,900 MT), Vietnam (4,700 MT), and Indonesia (2,900 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are running 4% behind year-ago compared to 3% 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: 331,400 MT
2012-13: 11,100 MT
2013-14:
320,300 MT
​<​/strong>
Trade Expectations
125,000 to 275,000 MT
Weekly Sales Details
Net sales of 11,100 MT for 2012/2013 resulted as increases for Canada (69,400 MT), the Dominican Republic (12,200 MT), Guatemala (12,200 MT, including 10,000 MT switched from unknown destinations and decreases of 700 MT), Colombia (10,000 MT), El Salvador (9,000 MT, including 4,600 MT switched from unknown destinations), and Trinidad (6,000 MT), were more than offset by decreases for the Philippines (78,000 MT), Venezuela (15,000 MT), and Peru (15,000 MT). Net sales of 320,300 MT for 2013/2014 were primarily for the Philippines (168,400 MT), unknown destinations (68,000 MT), and Egypt (36,000 MT).
Weekly Export Details
Exports of 152,900 MT were up noticeably from the previous week and 33 percent from the prior 4-week average. The primary destinations were Ecuador (26,300 MT), Mexico (25,600 MT), Guatemala (23,200 MT), the Dominican Republic (19,300 MT), and Canada (18,800 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments are running 19% ahead of last year's pace compared to 21% ahead of year-ago last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b><​strong>2012-13: 11,300 MT<​/strong><​/b>

Trade Expectations
0 MT to 20,000 MT
Weekly Sales Details
Net sales of 11,300 MT for 2012/2013 resulted as increases for Germany (6,000 MT), Norway (5,000 MT), and Mexico (500 MT), were partially offset by decreases for Canada (400 MT). Net sales of 200 MT for 2013/2014 were reported for Mexico.
Weekly Export Details
Exports of 1,100 MT were up 25 percent from the previous week, but down 89 percent from the prior 4-week average. The primary destinations were Canada (500 MT), Mexico (300 MT), and the Dominican Republic (200 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 65% ahead of year-ago, compared to 65% 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: 77,300 RB
2012-13: 33,600 RB
2013-14:
43,700 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 33,600 running bales for 2012/2013 were down 1 percent from the previous week and 11 percent from the prior 4-week average. Increases were reported for Vietnam (18,000 RB, including 200 RB switched from Japan), China (8,100 RB), Mexico (3,600 RB), Ecuador (1,600 RB), and Guatemala (900 RB, switched from El Salvador). Decreases were reported for El Salvador (900 RB) and Indonesia (800 RB). Net sales of 43,700 RB for 2013/2014 were primarily for Indonesia (27,300 RB), Mexico (19,100 RB), and Turkey (8,100 RB). Decreases were reported for China (34,400 RB).
Weekly Export Details
Exports of 96,100 RB were down 21 percent from the previous week and 33 percent from the prior 4-week average. The primary destinations were China (37,400 RB), Vietnam (11,100 RB), South Korea (6,800 RB), Bangladesh (6,700 RB), and Mexico (5,700 RB).
Comments and Performance Indicators
Export commitments are 6% ahead of year-ago compared to 6% ahead with year-ago last week. USDA projects exports in 2012-13 to be 13.6% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
<​b>2013: 11,400 MT
Weekly Sales Details
Net sales of 11,400 MT for 2013 were primarily for Hong Kong (3,200 MT), Mexico (2,700 MT), Japan (1,800 MT), Canada (1,600 MT), and Taiwan (900 MT).
Weekly Export Details
Exports of 15,400 MT were up 2 percent from the previous week and 3 percent from the prior 4-week average. The primary destinations were Japan (4,300 MT), Hong Kong (2,800 MT), Canada (2,700 MT), Mexico (2,500 MT), and South Korea (1,700 MT).
Comments and Performance Indicators
Exports compare to 14,900 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: 9,600 MT<​/strong>
Weekly Sales Details
Net sales of 9,600 MT for 2013 were primarily for Mexico (5,300 MT), Canada (1,200 MT), Ukraine (700 MT), Japan (600 MT), and the Philippines (400 MT).
Weekly Export Details
Exports of 8,700 MT were primarily to Mexico (3,000 MT), Japan (1,200 MT), Hong Kong (1,100 MT), Canada (800 MT), and the Philippines (500 MT).
Comments and Performance Indicators
Exports compare to 6,800 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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