Soybean Export Sales Top Expectations, Corn Sales Improve

April 4, 2013 03:06 AM
 

The Weekly Export Sales Report for the week ended March 28, 2013, reflected still-improving demand for corn. While sales met expectations, sales of old-crop corn rose 20% from last week. And this is for the week preceding the nearly $1 price break in futures. Soybean export sales again topped expectations with a strong weekly tally, but wheat export sales slowed and fell short of expectations. Sales of soy products were unimpressive, but the overall pace of exports remains well ahead of that needed to reach USDA's export sales projection. Cotton export sales remained strong, but beef sales declined over last week. This week featured the first pork export sales report.

USDA Weekly Export Sales Report
Week Ended March 28, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 387,300 MT
2012-13: 354,300 MT
2013-14: 33,000 MT

Trade Expectations

175,000 to 450,000 MT

Weekly Sales Details

Net sales of 354,300 MT for the 2012-13 marketing year were up 20% from the previous week and up noticeably from the prior 4-week average. Increases reported for Japan (202,400 MT, including 141,600 MT switched from unknown destinations and decreases of 8,500 MT), Mexico (163,200 MT), China (109,000 MT, including 120,000 MT switched from unknown destinations and decreases of 11,000 MT), Venezuela (52,000 MT), Guatemala (15,900 MT, including 12,500 MT switched from unknown destinations), and Taiwan (15,600 MT), were partially offset by decreases for unknown destinations (231,200 MT). Net sales of 33,000 MT for the 2013-14 marketing year were for Mexico.

Weekly Export Details

Exports of 565,900 MT were up 47% from the previous week and 43% from the prior 4-week average. The primary destinations were Japan (216,700 MT), China (109,000 MT), Mexico (104,100 MT), Venezuela (55,000 MT), and Taiwan (20,300 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are 54% behind year ago compared to 54% behind last week. USDA projects exports in 2012-13 to be 46.5% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​strong>Combined: 316,000 MT
2012-13: 141,200 MT
2013-14: 174,800 MT
Trade Expectations
400,000 to 700,000 MT
Weekly Sales Details
Net sales of 141,200 MT--a marketing-year low--for the 2012-13 marketing year were down 76% from the previous week and 78% from the prior 4-week average. Increases reported for Egypt (107,600 MT, including 105,000 MT switched from unknown destinations and decreases of 5,500 MT), Mexico (77,700 MT), Spain (68,000 MT, including 66,000 MT switched from unknown destinations), Brazil (30,000 MT), Ireland (22,000 MT, including 20,000 MT switched from unknown destinations), and Venezuela (17,000 MT), were partially offset by decreases for unknown destinations (194,500 MT), Germany (20,000 MT), and Colombia (2,100 MT). Net sales of 174,800 MT for the 2013-14 marketing year were reported for the Philippines (100,000 MT)Mexico (44,200 MT), and Nigeria (40,000 MT). Decreases were reported for Trinidad (5,900 MT) and Colombia (3,500 MT).
Weekly Export Details
Exports of 508,300 MT were down 3% from the previous week and 25% from the prior 4-week average. The primary destinations were Egypt (162,600 MT), Spain (68,000 MT)South Korea (32,100 MT), Mexico (31,300 MT), Turkey (26,700 MT), and Colombia (25,200 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments for the 2012-13 marketing year are 2% behind year-ago, compared to 1% behind last week. USDA projects exports in 2012-13 to be down 2.4% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 747,800 MT
2012-13: 392,700<​/strong> MT
2013-14: 355,100 MT
Trade Expectations
300,000 to 625,000 MT
Weekly Sales Details
Net sales of 392,700 MT for the 2012-13 marketing year were up noticeably from the previous week and up 37% from the prior 4-week average. Increases were reported for China (138,400 MT), Mexico (132,200 MT), Germany (54,400 MT), unknown destinations (19,700 MT), and Japan (13,400 MT, including 9,000 MT switched from unknown destination). Net sales of 355,100 MT for delivery in the 2013-14 marketing year were primarily for China (354,000 MT).
Weekly Export Details
Exports of 473,600 MT were down 17% from the previous week and 27% from the prior 4-week average. The primary destinations were China (260,500 MT), Mexico (64,400 MT), Germany (54,400 MT), Indonesia (30,100 MT), Japan (29,500 MT), Taiwan (23,500 MT), and Vietnam (8,600 MT).
Comments and Performance Indicators

Sales were well above expectations. Export commitments for the new marketing year are running 14% ahead of year-ago compared to 14% 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)
Combined: 105,300 MT
2012-13: 92,600
MT
2013-14: 12,700 MT
<​/strong>
Trade Expectations
40,000 to 150,000 MT
Weekly Sales Details
Net sales of 92,600 MT for the 2012-13 marketing year were down 33% from the previous week and 18% from the prior 4-week average. Increases were reported for Poland (40,100 MT, including 37,000 MT switched from unknown destinations), Morocco (30,000 MT), Canada (11,600 MT), Guatemala (9,200 MT, including 5,900 MT switched from unknown destinations), and Bangladesh (8,300 MT). Decreases were reported for unknown destinations (42,400 MT), Ireland (8,400 MT), and Indonesia (2,300 MT). Net sales of 12,700 MT for delivery in the 2013-14 marketing year were reported for Ireland (10,000 MT) and Jamaica (2,700 MT).
Weekly Export Details
Exports of 212,600 MT were down 33% from the previous week and 18% from the prior 4-week average. The primary destinations were the Philippines (51,000 MT), Poland (40,100 MT), Canada (23,800 MT), Ireland (17,600 MT), Colombia (16,500 MT), and Japan (8,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 38% ahead of last year's pace compared to 41% ahead of year-ago last week. USDA projects exports in 2012-13 to be 8.6% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b> 2012-13: -4,600 MT<​/strong>

Trade Expectations
0 to 15,000 MT
Weekly Sales Details
Net sales reductions of 4,600 MT for the 2012-13 marketing year resulted as increases for Venezuela (2,500 MT), Canada (900 MT), and Belgium (100 MT), were more than offset by decreases for the Dominican Republic (8,100 MT).
Weekly Export Details
Exports of 7,600 MT were down 80% from the previous week and 68% from the prior 4-week average. The primary destinations were Nicaragua (3,000 MT), Mexico (2,000 MT), Canada (1,400 MT), and El Salvador (900 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments for the new marketing year are 145% ahead of year-ago, compared to 144% ahead last week. USDA projects exports in 2012-13 to be 57.1% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 207,600 RB
2012-13: 148,300 RB
2013-14: 59,300 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 148,300 running bales for the 2012-13 marketing year were up 4% from the previous week, but unchanged from the prior 4-week average. Increases were reported for Turkey (38,900 RB), China (14,100 RB), Brazil (13,600 RB), Thailand (13,100 RB), and Vietnam (12,900 RB). Net sales of 59,300 RB for delivery in the 2013-14 marketing year were primarily for El Salvador (26,600 RB), Thailand (13,600 RB), and South Korea (10,200 RB).
Weekly Export Details
Exports of 361,700 RB were up 7% from the previous week, but down 3% from the prior 4-week average. The primary destinations were China (185,400 RB), Turkey (59,500 RB), Vietnam (17,600 RB), Indonesia (14,300 RB), Taiwan (13,700 RB), and Mexico (11,200 RB).
Comments and Performance Indicators
Export commitments are 1% behind year-ago compared to 4% behind last week. USDA projects exports in 2012-13 to be 8.9% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 10,500 MT<​/strong>
Weekly Sales Details
Net sales of 10,500 MT for delivery in 2013 were down 39% from the previous week and 47% from the prior 4-week average. Increases were reported for Japan (4,700 MT), Mexico (2,000 MT), Canada (1,200 MT), Hong Kong (1,100 MT), and South Korea (600 MT).
Weekly Export Details
Exports of 11,600 MT were primarily to Japan (3,800 MT), Mexico (1,800 MT), Canada (1,600 MT), Vietnam (1,100 MT), and South Korea (1,100 MT).
Comments and Performance Indicators
Exports compare to 17,300 MT last week. USDA projects exports in 2013 to be 0.6% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 48,400 MT
Weekly Sales Details
Net sales of 48,400 MT for delivery in 2013 were primarily for Mexico (23,900 MT), Canada (6,700 MT), Ukraine (3,200 MT), Australia (3,100 MT), Japan (2,700 MT), Hong Kong (2,000 MT), and (South Korea (1,500 MT).
Weekly Export Details
Exports of 7,000 MT were mainly to Ukraine (2,600 MT), Mexico (1,400 MT), Japan (1,000 MT), Canada (1,000 MT), and China (300 MT).
Comments and Performance Indicators
USDA projects exports in 2013 to be 0.4% below last year's total.

Link to USDA report.

 


 

 

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