Soybean Export Sales Top Expectations

November 2, 2012 02:52 AM
 

The Weekly Export Sales Report for the week ended Oct. 25, 2012, showed soybean demand remains strong as export sales again topped expectations. Corn export sales met expectations, but expectations were admitedly low. Wheat export sales also came in within expectations but they were down from week-ago levels. Beef export sales remain strong, while cotton export sales were lackluster.

USDA Weekly Export Sales Report
Week Ended Oct. 25, 2012

Corn

Actual Sales (in metric tons -- MT)

2012-13: 167,900 MT

Trade Expectations

100,000 to 350,000 MT

Weekly Sales Details

Net sales of 167,900 MT for the 2012/2013 marketing year were up 18 percent from the previous week and 5 percent from the prior 4-week average. Increases reported for Japan (181,100 MT, including 71,300 MT switched from unknown destinations and decreases of 5,000 MT), Mexico (62,900 MT), Taiwan (27,100 MT), Cuba (25,000 MT), and Venezuela (22,500 MT), were partially offset by decreases for unknown destinations (124,500 MT) and China (60,900 MT).

Weekly Export Details

Exports of 388,400 MT were up 34 percent from the previous week, but down 6 percent for the prior 4-week average. The primary destinations were to Japan (204,400 MT), Mexico (78,600 MT), China (60,900 MT), Jamaica (15,600 MT), and El Salvador (9,300 MT).

Comments and Performance Indicators

Sales met expectations. Export commitments for the new marketing year are 48% behind year ago compared to 48% behind last week. USDA projects exports in 2012-13 to be 25.5% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2012-13: 362,900 MT
Trade Expectations
350,000 to 500,000 MT
Weekly Sales Details
Net sales of 362,900 MT for the 2012/2013 marketing year were down 37 percent from the previous week and 8 percent from the prior 4-week average. Increases were reported for Taiwan (102,100 MT), Nigeria (89,100 MT, including 6,000 MT switched from unknown destinations), Thailand (52,000 MT), Japan (41,400 MT), Colombia (29,000 MT, including 22,500 MT switched from unknown destinations), and the Philippines (20,900 MT, including 19,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (32,500 MT).
Weekly Export Details
Exports of 295,200 MT were down 22 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were Taiwan (44,600 MT), Mexico (39,900 MT), Japan (39,000 MT), Indonesia (33,500 MT), Nigeria (30,300 MT), Colombia (27,000 MT), Haiti (22,000 MT), and the Philippines (20,900 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 9% behind year-ago, compared to 11% behind last week. USDA projects exports in 2012-13 to be 9.5% ahead of the previous marketing year.

Soybeans

Actual Sales (in metric tons -- MT)

Combined: 760,600 MT
2012-13: 741,200 MT
2013-14: 19,400 MT
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Trade Expectations
550,000 to 700,000 MT
Weekly Sales Details
Net sales of 741,200 MT for the 2012/2013 marketing year were up 42 percent from the previous week and 4 percent from the prior 4-week average. Increases were reported for China (382,600 MT, including 173,000 MT switched from unknown destinations and decreases of 25,600 MT), unknown destinations (214,500 MT), Thailand (65,000 MT, including 60,000 MT switched from unknown destinations), Indonesia (46,000 MT), Mexico (44,800 MT), and Japan (28,100 MT, including 15,000 MT switched from unknown destinations and decreases of 1,100 MT). Decreases were reported for Canada (63,100 MT) and the Netherlands (24,300 MT). Net Sales of 19,400 MT for delivery in the 2013/2014 marketing year were for Japan.
Weekly Export Details
Exports of 1,713,400 MT were up 4 percent from the previous week and 25 percent from the prior 4-week average. The primary destinations were to China (1,257,200 MT), Thailand (75,000 MT), Mexico (73,300 MT), Indonesia (73,200 MT), and Japan (61,200 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are running 39% ahead of year-ago compared to 37% ahead last week. USDA projects exports in 2012-13 to be 7.0% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

2012-13: 73,200 MT

Trade Expectations
125,000 to 225,000 MT
Weekly Sales Details
Net sales of 73,200 MT for the 2012/2013 marketing year were reported for Mexico (25,200 MT), Italy (19,800 MT, including 18,000 MT switched from unknown destinations), Venezuela (11,200 MT), Canada (10,100 MT), and Honduras (9,600 MT, switched from unknown destinations). Decreases were reported for unknown destinations (38,700 MT) and Trinidad (2,000 MT).
Weekly Export Details
Exports of 225,700 MT were reported to Ecuador (27,500 MT), Poland (27,400 MT), Canada (22,900 MT), Mexico (20,900 MT), and Venezuela (20,000 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments are running 31% ahead of last year's pace compared to 34% ahead of year-ago last week. USDA projects exports in 2012-13 to be 21.9% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 28,500 MT

Trade Expectations
15,000 to 30,000 MT
Weekly Sales Details
Net sales of 28,500 MT for the 2012/2013 marketing year were reported for Egypt (18,000 MT), Mexico (6,700 MT), Venezuela (3,100 MT), and Nicaragua (700 MT).
Weekly Export Details
Exports of 33,100 MT were reported to China (22,700 MT), Jamaica (4,000 MT), Mexico (3,500 MT), and Canada (1,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 209% ahead of year-ago, compared to 179% ahead last week. USDA projects exports in 2012-13 to be 17.2% below the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
<​strong>Combined: 100,500 RB
2012-13: 96,800 RB
2013-14: 3,700 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 96,800 running bales for the 2012/2013 marketing year were up noticeably from the previous week, but down 36 percent from the prior 4-week average. Increases were reported for China (31,200 RB), Turkey (15,100 RB), Vietnam (8,800 RB), Mexico (8,100 RB), and Colombia (7,600 RB). Net sales of 3,700 RB for delivery in the 2013/2014 marketing year were reported for Mexico (2,400 RB) and Thailand (1,300 RB).
Weekly Export Details
Exports of 110,700 RB were up 81 percent from the previous week, but down 10 percent from the prior 4-week average. The primary destinations were China (40,300 RB), Mexico (15,400 RB), Turkey (11,800 RB), and Thailand (7,000 RB).
Comments and Performance Indicators
Export commitments are 20% behind year-ago compared to 20% behind last week. USDA projects exports in 2012-13 to be 0.9% behind the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

<​b>Combined: 15,200 MT
2
<​/b>
012: 14,600 MT
2013: 600 MT

Weekly Sales Details
Net sales of 14,600 MT were down 12 percent from the previous week and 6 percent from the prior 4-week average. Increases were reported for Mexico (3,300 MT), South Korea (2,400 MT), Canada (1,900 MT), Hong Kong (1,500 MT), and Vietnam (1,400 MT). Net sales of 600 MT for delivery in the 2013 marketing year were primarily for Mexico (400 MT) and Canada (100 MT).
Weekly Export Details
Exports of 18,000 MT were primarily to Mexico (2,900 MT), South Korea (2,400 MT), Russia (2,400 MT), Japan (2,400 MT), and Canada (2,200 MT).
Comments and Performance Indicators
Exports compare to 16,800 MT last week. USDA projects exports in 2012 to be 11.0% below last year's total.

Link to USDA report.

 


 

 

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