Soybean Export Sales Surge to More Than 1.253 MMT

January 31, 2013 01:51 AM
 

The Weekly Export Sales Report for the week ended Jan. 24, 2013, showed corn and export inspections within expectations but up from last week. Wheat export inspections, on the other hand, were down notably from last week but within expectations. Weekly soybean export inpsections were again impressive and well above expectations. China accounted for nearly 1 MMT of the 1.25 MMT-plus total in sales for the week. Cotton and beef export fell compared to recent weeks.

USDA Weekly Export Sales Report
Week Ended Jan. 24, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 253,300 MT
2012-13: 186,800 MT
2013-14: 66,500 MT

Trade Expectations

150,000 to 300,000 MT

Weekly Sales Details

Net sales of 186,800 MT for the 2012-13 marketing year were up 35% from the previous week and 26% from the prior 4-week average. Increases reported for Japan (130,700 MT, including 63,900 MT switched from unknown destinations), China (107,500 MT, including 120,000 MT switched from unknown destinations and decreases of 12,600 MT), Mexico (48,200 MT), El Salvador (10,000 MT, including 7,200 MT switched from Guatemala and decreases of 600 MT), and Colombia (8,700 MT), were partially offset by decreases for unknown destinations (135,100 MT). Net sales of 66,500 MT for the 2013-14 marketing year were reported for Japan.

Weekly Export Details

Exports of 609,200 MT were up 65% from the previous week and up noticeably from the prior 4-week average. The primary destinations were Japan (209,400 MT), China (167,500 MT), Mexico (97,600 MT), Venezuela (30,000 MT), and Cuba (27,500 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are 51% behind year ago compared to 50% behind last week. USDA projects exports in 2012-13 to be 38.4% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​b>Combi​ned: 387,900 MT
2012-13: 293,600 MT
2013-14: 94,300 MT
Trade Expectations
350,000 to 550,000 MT
Weekly Sales Details
Net sales of 293,600 MT for the 2012-13 marketing year were down 49% from the previous week and 32% from the prior 4-week average. Increases were reported for Peru (61,400 MT, including 50,000 MT switched from unknown destinations), Japan (56,200 MT), Nigeria (53,100 MT), Turkey (30,000 MT), and Mexico (27,400 MT). Decreases were reported for the United Kingdom (9,000 MT), the Leeward Windward Islands (1,700 MT), and Barbados (1,400 MT). Net sales of 94,300 MT for the 2013-14 marketing year were reported mainly for Nigeria (80,000 MT).
Weekly Export Details
Exports of 624,100 MT were up 12% from the previous week and 98% from the prior 4-week average. The primary destinations were Japan (129,800 MT), Nigeria (90,700 MT), Egypt (78,900 MT), Mexico (65,900 MT), and the Philippines (60,500 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the 2012-13 marketing year are 5% behind year-ago, compared to 4% behind last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 1,253,000 MT
2012-13: 386,000 MT
2013-14: 867,000 MT
Trade Expectations
650,000 to 850,000 MT
Weekly Sales Details
Net sales of 386,000 MT for the 2012-13 marketing year were up 1% from the previous week, but down 42% from the prior 4-week average. Increases reported for China (292,100 MT, including 163,000 MT switched from unknown destinations and decreases of 14,600 MT), the Netherlands (76,200 MT, including 70,000 MT switched from unknown destinations), Indonesia (70,800 MT), Vietnam (62,000 MT, including 65,000 MT switched from unknown destinations and decreases of 6,000 MT), Turkey (44,000 MT, including 40,000 MT switched from unknown destinations), and Egypt (40,000 MT), were partially offset by decreases for unknown destinations (277,000 MT). Net sales of 867,000 MT for delivery in the 2013-14 marketing year were for China (694,000 MT) and unknown destinations (173,000 MT).
Weekly Export Details
Exports of 347,700 MT were up 18% from the previous week and 27% from the prior 4-week average. The primary destinations were the Philippines (44,000 MT), Poland (40,000 MT), Turkey (33,400 MT), Colombia (33,400 MT), and Italy (31,900 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 27% ahead of year-ago compared to 27% ahead last week. USDA projects exports in 2012-13 to be 1.2% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
2012-13: 141,700 MT
Trade Expectations
150,000 to 200,000 MT
Weekly Sales Details
Net sales of 141,700 MT for the 2012-13 marketing year resulted as increases for Poland (40,000 MT, including 35,000 MT switched from unknown destinations), Turkey (37,600 MT, including 30,000 MT switched from unknown destinations), Italy (31,900 MT, including 29,000 MT switched from unknown destinations), Colombia (28,200 MT, including 10,000 MT switched from Panama and decreases of 1,700 MT), Egypt (19,900 MT), and Mexico (14,300 MT), were partially offset by decreases for unknown destinations (78,200 MT), Panama (10,000 MT), Guatemala (5,100 MT), and the French West Indies (3,000 MT).
Weekly Export Details
Exports of 347,700 MT were up 18% from the previous week and 27% from the prior 4-week average. The primary destinations were the Philippines (44,000 MT), Poland (40,000 MT), Turkey (33,400 MT), Colombia (33,400 MT), and Italy (31,900 MT).
Comments and Performance Indicators
Sales were just below expectations. Export commitments are running 43% ahead of last year's pace compared to 43% ahead of year-ago last week. USDA projects exports in 2012-13 to be 10.7% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 20,100 MT<​/b>

Trade Expectations
15,000 to 25,000 MT
Weekly Sales Details
Net sales of 20,100 MT for the 2012-13 marketing year were down 24% from the previous week and 1% from the prior 4-week average. Increases were reported for Morocco (14,500 MT), Mexico (3,600 MT), Nicaragua (1,100 MT), and Guatemala (600 MT).
Weekly Export Details
Exports of 23,400 MT were down 48% from the previous week and 30% from the prior 4-week average. The primary destinations were Morocco (14,500 MT), Mexico (3,400 MT), Venezuela (3,200 MT), and Nicaragua (1,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 268% ahead of year-ago, compared to 270% 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)
Combined: 136,800 RB
2012-13: 131,300 RB
2013-14: 5,500 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 131,300 running bales for the 2012-13 marketing year were down 39% from the previous week and 44% from the prior 4-week average. Increases reported for Indonesia (31,000 RB), Vietnam (25,300 RB), Mexico (18,900 RB), Turkey (17,500 RB), Thailand (10,800 RB), and South Korea (9,500 RB), were partially offset by decreases for China (11,100 RB). Net sales of 5,500 RB for delivery in the 2013-14 marketing year were mainly for South Korea (2,800 RB) and Colombia (2,000 RB).
Weekly Export Details
Exports of 274,300 RB were down 14% from the previous week, but up 2% from the prior 4-week average. The primary destinations were China (131,100 RB), Turkey (40,100 RB), Pakistan (40,000 RB), Vietnam (14,800 RB), Mexico (9,800 RB), and Thailand (7,200 RB).
Comments and Performance Indicators
Export commitments are 5% behind year-ago compared to 8% behind last week. USDA projects exports in 2012-13 to be 4.2% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 12,100 MT<​/b>
Weekly Sales Details
Net sales of 12,100 MT for delivery in 2013 were primarily for Mexico (4,300 MT), Canada (3,300 MT), South Korea (2,600 MT), Egypt (1,000 MT), and Vietnam (1,000 MT). Decreases were reported for Japan (2,200 MT).
Weekly Export Details
Exports of 15,700 MT were mainly to Mexico (3,500 MT), Canada (2,300 MT), South Korea (2,100 MT), Vietnam (1,900 MT), and Japan (1,800 MT).
Comments and Performance Indicators
Exports compare to 14,200 MT last week. USDA projects exports in 2013 to be 1.4% below last year's total.

Link to USDA report.

 


 

 

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