Soybean Export Sales Fall Well Short of Expectations

June 20, 2013 02:54 AM
 

The Weekly Export Sales Report for the week ended June 13, 2013, reflected lackluster demand for corn and soy products. While corn export sales matched expectations, the tally was relatively light. And soybean export sales fell well short of expectations with weekly exports hitting a marketing year low. Wheat export sales were decent if not impressive and cotton exports declined from recent weeks. Beef and pork exports slowed relative to the week prior.

USDA Weekly Export Sales Report
Week Ended June 13, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 210,500 MT
2012-13: 133,400 MT
2013-14: 77,100 MT

Trade Expectations

200,000 to 450,000 MT

Weekly Sales Details

Net sales of 133,400 MT for 2012-13 resulted as increases for Japan (132,400 MT, including 43,500 MT switched from unknown destinations), Mexico (32,600 MT), Venezuela (30,000 MT, switched from unknown destinations), Guatemala (10,400 MT, switched from unknown destinations), and El Salvador (8,500 MT, switched from unknown destinations), were partially offset by decreases for unknown destinations (72,300 MT) and Jamaica (14,500 MT). Net sales of 77,100 MT for 2013-14 were for Mexico (80,400 MT), Taiwan (4,500 MT), China (4,000 MT), and Colombia (4,000 MT). Decreases were reported for Jamaica (8,300 MT) and Panama (7,500 MT).

Weekly Export Details

Exports of 322,400 MT were up 39% from the previous week and 6% from the prior four-week average. The primary destinations were Mexico (118,300 MT), Japan (93,000 MT), Venezuela (48,000 MT), and Panama (30,100 MT).

Comments and Performance Indicators

Sales were within 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 54.6% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 434,700 MT
2013-14: 432,700 MT
2014-15: 2,000 MT<​/b>
Trade Expectations
300,000 to 650,000 MT
Weekly Sales Details
Net sales of 432,700 MT for delivery in the 2013-14 marketing year were primarily for the Philippines (120,600 MT), China (90,800 MT, including 50,000 MT switched from unknown destinations), Japan (72,000 MT), Brazil (47,300 MT, including 25,000 MT switched from unknown destinations and decreases of 1,900 MT), Indonesia (40,000 MT), and Nigeria (27,500 MT). Decreases were reported for Peru (43,000 MT), Taiwan (1,700 MT), and Trinidad (1,500 MT). Net sales of 2,000 MT for delivery in the 2014-15 marketing year were for Mexico.
Weekly Export Details

Exports of 619,100 MT were primarily to Brazil (195,300 MT), Mexico (89,300 MT), China (57,800 MT), Japan (56,900 MT), Guatemala (50,300 MT), and the Philippines (44,100 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments to start the 2013-14 marketing year are running 22% ahead of year-ago, compared to 33% 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: 161,100 MT
2012-13: 52,600
MT
2013-14: 108,500 MT
Trade Expectations
350,000 to 600,000 MT
Weekly Sales Details
Net sales of 52,600 MT for 2012-13 were up 57% from the previous week and 34% from the prior four-week average. Increases were reported for Mexico (36,900 MT), Taiwan (6,000 MT), Canada (3,000 MT), Indonesia (2,600 MT), and Vietnam (2,200 MT). Net sales of 108,500 MT for 2013-14 were primarily for China (55,000 MT), Mexico (30,000 MT), and unknown destinations (16,000 MT).
Weekly Export Details
Exports of 92,700 MT--a marketing-year low--were down 28% from the previous week and 20% from the prior four-week average. The primary destinations were Mexico (45,400 MT), Indonesia (8,800 MT), Taiwan (8,800 MT), Vietnam (6,900 MT), and Venezuela (6,000 MT).
Comments and Performance Indicators

Sales were well below expectations. Export commitments for the new marketing year are running 1% behind year-ago compared to steady with 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: 141,200 MT
2012-13: 26,600
MT
2013-14: 114,600 MT
​<​/strong>
Trade Expectations
100,000 to 200,000 MT
Weekly Sales Details
Net sales of 26,600 MT for 2012-13--a marketing-year low--were down 73% from the previous week and 79% from the prior four-week average. Increases reported for Mexico (40,700 MT), Canada (9,500 MT), the Dominican Republic (9,000 MT), Israel (8,000 MT), and Japan (5,900 MT, including 3,100 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (43,100 MT), Jamaica (6,700 MT), Colombia (4,000 MT), and Sri Lanka (2,800 MT). Net sales of 114,600 MT for 2013-14 were for unknown destinations (78,000 MT) and the Philippines (40,000 MT). Decreases were reported for Jamaica (2,700 MT) and Canada (600 MT).
Weekly Export Details
Exports of 68,500 MT--a marketing-year low--were down 55% from the previous week and 52% from the prior four-week average. The primary destinations were Canada (15,400 MT), Panama (13,600 MT), Venezuela (10,000 MT), Bangladesh (5,100 MT), Colombia (5,100 MT), and Japan (4,400 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 29% ahead of last year's pace compared to 34% 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)

<​strong> 2012-13: 700 MT

Trade Expectations
10,000 MT to 20,000 MT
Weekly Sales Details
Net sales of 700 MT for 2012-13 were down 95% from the previous week and from the prior four-week average. Increases were reported for Canada (300 MT) Trinidad (100 MT), Saudi Arabia (100 MT), and Lebanon (100 MT).
Weekly Export Details
Exports of 2,600 MT were down 79% from the previous week and 72% from the prior four-week average. The primary destinations were Mexico (1,500 MT), Canada (800 MT), Lebanon (100 MT), and Saudi Arabia (100 MT).
Comments and Performance Indicators
Sales were well below expectations. Export commitments for the new marketing year are 87% ahead of year-ago, compared to 95% 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: 151,200 RB
2012-13: 69,800 RB
2013-14: 81,400 RB
<​/strong>
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 69,800 running bales for 2012-13 were down 31% from the previous week and 45% from the prior four-week average. Increases were reported for China (24,600 RB), Turkey (22,000 RB), Vietnam (13,700 RB), Colombia (10,100 RB, including 9,300 MT switched from Mexico), and Ecuador (5,500 RB). Decreases were reported for Mexico (8,600 RB) and Indonesia (1,700 RB). Net sales of 81,400 RB for 2013-14 were reported primarily for China (48,400 RB), South Korea (12,200 RB), and Mexico (9,100 RB). Decreases were reported for Indonesia (1,800 RB).
Weekly Export Details
Exports of 187,900 RB were down 19% from the previous week and 28% from the prior four-week average. The primary destinations were China (66,800 RB), Turkey (28,500 RB), Vietnam (18,300 RB), Mexico (17,200 RB), South Korea (11,000 RB), and Indonesia (10,200 RB).
Comments and Performance Indicators
Export commitments are steady with 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)
2013: 9,000 MT​<​/strong>
Weekly Sales Details
Net sales of 9,000 MT for 2013 resulted as increases for Hong Kong (4,100 MT), Canada (1,800 MT), Mexico (1,500 MT), South Korea (800 MT), and Taiwan (600 MT), were partially offset by decreases for Japan (400 MT).
Weekly Export Details
Exports of 15,800 MT--a marketing-year high--were up 6% from the previous week and 15% from the prior four-week average. The primary destinations were Japan (5,000 MT), Hong Kong (3,100 MT), Mexico (2,700 MT), Canada (2,300 MT), and South Korea (1,400 MT).
Comments and Performance Indicators
Exports compare to 13,100 MT last week. USDA projects exports in 2013 to be 5.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​strong>2013: 8,300 MT
Weekly Sales Details
Net sales of 8,300 MT for 2013 were primarily for Mexico (3,900 MT), Japan (1,400 MT), Canada (1,000 MT), Australia (1,000 MT), and Chile (200 MT). Decreases were reported for Hong Kong (300 MT).
Weekly Export Details
Exports of 10,000 MT were primarily to Mexico (3,400 MT), Hong Kong (1,200 MT), Canada (1,100 MT), Japan (1,000 MT), and South Korea (900 MT).
Comments and Performance Indicators
Exports compare to 12,100 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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