Soybean Export Sales Impress, Grains Disappoint

January 3, 2014 01:51 AM
 

The Weekly Export Sales Report for the week ended Dec. 26, reflected slow demand for corn and wheat over the Christmas season, while soybeans enjoyed yet another strong week of buys. In what has become somewhat of a trend, this week's soybean export sales tally again came in solidly above 1 MMT and expectations. Cotton export sales slowed last week, while meat sales were solid.

USDA Weekly Export Sales Report
Week Ended Dec. 26, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 174,800 MT

<​b>2013-14: 154,500 MT​<​/strong>

2014-15: 20,300 MT

Trade Expectations

650,000 MT to 850,000 MT

Weekly Sales Details

Net sales of 154,500 MT for 2013-14 were down 90% from the previous week and 80% from the prior 4-week average. Increases were reported for Japan (207,900 MT, including 101,400 MT switched from unknown destinations), Peru (72,700 MT, including 62,000 MT switched from unknown destinations), the Dominican Republic (41,000 MT), Colombia (38,500 MT, including 35,000 MT switched from unknown destinations), and Guatemala (30,500 MT). Decreases were reported for unknown destinations (209,400 MT), China (116,000 MT), and Nicaragua (1,300 MT). Net sales of 20,300 MT for 2014-15 were reported for Mexico.

Weekly Export Details

Exports of 844,400 MT were down 37% from the previous week and 7% from the prior 4-week average. The primary destinations were South Korea (198,900 MT), Japan (184,000 MT), China (154,900 MT), Mexico (120,500 MT), and Peru (62,500 MT).

Comments and Performance Indicators

Sales fell well short of expectations. Export commitments for the 2013-14 marketing year are running 124% ahead of year-ago, which compares to 125% ahead of year ago the week before. USDA projects exports in 2013-14 to be 98.4% above the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)

Combined: 256,500 MT

 

2013-14: 248,500 MT

2014-15: 8,000

Trade Expectations
350,000 MT to 550,000 MT
Weekly Sales Details
Net sales of 248,500 MT for delivery during the 2013-14 marketing year were down 58% from the previous week and 46% from the prior 4-week average. Increases were reported for Indonesia (65,000 MT), Thailand (59,500 MT), Colombia (48,500 MT), Guatemala (26,000 MT, including 24,700 MT switched from unknown destinations), and Peru (22,000 MT). Decreases were reported for unknown destinations (23,600 MT), the French West Indies (6,000 MT), and the Dominican Republic (5,600 MT). Net sales of 8,000 MT for 2014-15 were reported for Colombia.
Weekly Export Details
Exports of 281,700 MT were down 40% from the previous week and 37% from the prior 4-week average. The primary destinations were Japan (79,000 MT), Mexico (72,500 MT), Guatemala (38,000 MT), Brazil (33,600 MT), and El Salvador (18,100 MT).
Comments and Performance Indicators

Sales were below expectations. Export commitments for the 2013-14 marketing year are running 28% ahead of year-ago, compared to 30% ahead the week prior. 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: 1,180,900 MT

 

2013-14: 943,400 MT

2014-15: 237,500 MT

Trade Expectations
500,000 MT to 800,000 MT
Weekly Sales Details
Net sales of 943,400 MT for 2013-14 were up 31% from the previous week and 27% from the prior 4-week average. Increases were reported for China (371,100 MT), Vietnam (219,300 MT, including 126,000 MT switched from unknown destinations), Indonesia (106,800 MT, including 60,000 MT switched from unknown destinations), Egypt (104,300 MT), and Germany (76,800 MT). Decreases were reported for unknown destinations (238,000 MT) and Costa Rica (1,400 MT). Net sales of 237,500 MT for 2014-15 were reported for unknown destinations (120,000 MT), China (115,000 MT), and Japan (2,500 MT).
Weekly Export Details
Exports of 1,528,100 MT were up 6% from the previous week, but down 6% from the prior 4-week average. The primary destinations were China (716,600 MT), Vietnam (145,200 MT), Indonesia (83,800 MT), Germany (76,800 MT), and Spain (66,600 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 32% ahead of year-ago compared to 31% ahead the week prior. USDA projects exports in 2013-14 to be 11.7% above the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

2013-14:<​strong> 123,900 MT

Trade Expectations
50,000 MT to 100,000 MT
Weekly Sales Details
Net sales of 123,900 MT for 2013-14 were up 49% from the previous week and 36% from the prior 4-week average. Increases were reported for Venezuela (55,300 MT, including 25,000 MT switched from unknown destinations), Mexico (25,700 MT), the Dominican Republic (17,100 MT), Canada (11,400 MT), and Cuba (10,000 MT, switched from unknown destinations). Decreases were reported for unknown destinations (34,000 MT) and Guatemala (1,600 MT).
Weekly Export Details
Exports of 233,600 MT were down 20% from the previous week and 23% from the prior 4-week average. The primary destinations were the Philippines (93,900 MT), Venezuela (23,300 MT), Israel (22,600 MT), Canada (21,400 MT), and the Dominican Republic (18,400 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments for 2013-14 are running 6% ahead of last year's pace, compared to 5% ahead last week. USDA in September projected exports in 2013-14 will be down 7.2% from the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

 

2013-14: 23,100 MT

Trade Expectations
10,000 MT to 40,000 MT
Weekly Sales Details
Net sales of 23,100 MT for 2013-14 were down 73% from the previous week and 19% from the prior 4-week average. Increases were reported for Colombia (24,900 MT), Guatemala (4,200 MT), Mexico (1,300 MT), and Malaysia (1,000 MT). Decreases were reported for the Dominican Republic (8,100 MT).
Weekly Export Details
Exports of 77,700 MT were up noticeably from the previous week and from the prior 4-week average. The primary destinations were Panama (42,000 MT), Colombia (24,900 MT), Guatemala (4,200 MT), and Nicaragua (3,500 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 40% behind compared to 39% behind year-ago last week. USDA in September projected exports in 2013-14 to be 5.5% behind the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
 
Combined: 115,20 RB
2013-14: 85,900 RB
2014-15: 29,300 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 85,900 RB for 2013-14 were down 61% from the previous week and from the prior 4-week average. Increases were reported for China (17,800 RB), Bangladesh (15,400 RB), Turkey (9,200 RB), Mexico (9,000 RB), and India (7,900 RB, including 400 RB switched from Italy). Decreases were reported for Italy (400 RB) and Germany (100 RB). Net sales of 29,300 RB for 2014-15 were reported for Mexico (10,500 RB), Colombia (10,500 RB), and South Korea (7,900 RB).
Weekly Export Details
Exports of 143,200 RB were down 9% from the previous week and 1% from the prior 4-week average. The primary destinations were Turkey (28,200 RB), China (22,700 RB), Indonesia (18,300 RB), Vietnam (14,100 RB), and Mexico (13,200 RB).
Comments and Performance Indicators
Export commitments are 20% behind year-ago compared to 19% behind the week prior. USDA projects exports in 2013-14 to be 20.2% behind of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

Combined: 11,700 MT

<​strong>2013: 2,500 MT​<​/b>

2014: 9,200 MT

Weekly Sales Details
Net sales of 2,500 MT for 2013 were down noticeably from the previous week and 48% from the prior 4-week average. Increases were reported for Canada (600 MT), Mexico (500 MT), South Korea (400 MT), Hong Kong (200 MT), and Indonesia (200 MT). Net sales of 9,200 MT for 2014 were reported for Japan (5,000 MT), South Korea (2,100 MT), and Canada (900 MT).
Weekly Export Details
Exports of 10,100 MT were primarily to Japan (2,100 MT), Mexico (2,100 MT), Hong Kong (2,100 MT), South Korea (1,800 MT), and Canada (700 MT).
Comments and Performance Indicators
Exports compare to 13,200 MT the week before. USDA projects exports in 2013 to be 2.1% above last year's total.

Pork

Actual Sales (in metric tons -- MT)

Combined: 16,900 MT

<​b>2013​: 5,900 MT

2014: 11,000 MT

Weekly Sales Details
Net sales of 5,900 MT for 2013 were up 5% from the previous week, but down 23% from the prior 4-week average. Increases were reported for Mexico (3,500 MT), Japan (1,000 MT), China (600 MT), Canada (500 MT), and South Korea (200 MT). Decreases were reported for Hong Kong (200 MT) and Australia (100 MT). Net sales of 11,000 MT for 2014 were for Hong Kong (8,000 MT), South Korea (2,300 MT), and Mexico (700 MT).
Weekly Export Details
Exports of 7,900 MT were primarily to Mexico (3,100 MT), Japan (1,400 MT), South Korea (1,400 MT), Australia (400 MT), and Canada (400 MT).
Comments and Performance Indicators
Exports compare to 11,300 MT the week prior. USDA projects exports in 2013 to be 7.6% below last year's total.

Link to USDA report.

 


 

 

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