Soybean Export Sales Top Expectations... Again

February 7, 2013 01:53 AM
 

The Weekly Export Sales Report for the week ended Jan. 31, 2013, showed China still has an insatiable demand for soybeans. Weekly export sales surged past expectations to nearly 1.7 MMT. Corn export sales, on the other hand, reflect lackluster demand, though the weekly total did match low expectations. Wheat export sales came in near the low-end of expectations. Weekly beef and cotton export sales slowed from recent weeks.

USDA Weekly Export Sales Report
Week Ended Jan. 31, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 160,400 MT
2012-13: 168,900 MT
2013-14: -8,500 MT

Trade Expectations

100,000 to 300,000 MT

Weekly Sales Details

Net sales of 168,900 MT for the 2012-13 marketing year were down 10% from the previous week and 8% from the prior 4-week average. Increases reported for China (109,000 MT, including 120,000 MT switched from unknown destinations and decreases of 11,000 MT), Japan (99,500 MT, including 19,500 MT switched from unknown destinations), Venezuela (92,000 MT, including 15,000 MT switched from unknown destinations), Cuba (25,000 MT), and Jamaica (19,700 MT), were partially offset by decreases for unknown destinations (129,100 MT) and South Korea (62,900 MT). Net sales reductions of 8,500 MT for the 2013-14 marketing year resulted as increases for Mexico (22,000 MT) were more than offset by decreases for Japan (30,500 MT).

Weekly Export Details

Exports of 208,700 MT were down 66% from the previous week and 37% from the prior 4-week average. The primary destinations were China (109,000 MT, including late reporting of 54,500 MT), Mexico (51,600 MT), Japan (19,500 MT), Venezuela (15,000 MT), and Taiwan (9,000 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are 52% behind year ago compared to 51% 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)
Combined: 300,800 MT
2012-13: 290,800 MT
2013-14: 10,000 MT
Trade Expectations
300,000 to 500,000 MT
Weekly Sales Details
Net sales of 290,800 MT for the 2012-13 marketing year were down 1% from the previous week and 29% from the prior 4-week average. Increases were reported for Taiwan (78,700 MT), Japan (45,700 MT), Mexico (35,500 MT), unknown destinations (26,000 MT) Egypt (24,600 MT), and Chile (22,000 MT). Decreases were reported for Jamaica (17,100 MT) and the French West Indies (10,000 MT). Net sales of 10,000 MT for the 2013-14 marketing year were reported for unknown destinations.
Weekly Export Details
Exports of 457,400 MT were down 27% from the previous week, but up 6% from the prior 4-week average. The primary destinations were Egypt (134,800 MT), Mexico (65,900 MT, including late reporting of 28,400 MT), Thailand (53,200 MT), Nigeria (30,000 MT), and South Korea (27,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the 2012-13 marketing year are 7% behind year-ago, compared to 5% 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: 1,667,200 MT
2012-13: 896,200<​/strong> MT
2013-14: 771,000 MT
Trade Expectations
900,000 to 1,300,000 MT
Weekly Sales Details
Net sales of 896,200 MT for the 2012-13 marketing year were up noticeably from the previous week and up 40% from the prior 4-week average. Increases reported for China (696,600 MT, including 115,000 MT switched from unknown destinations and decreases of 3,500 MT), Spain (142,300 MT, including 130,000 MT switched from unknown destinations), the Netherlands (135,800 MT, including 140,000 MT switched from unknown destinations and decreases of 11,200 MT), Germany (76,000 MT), Indonesia (75,600 MT, including 68,000 MT switched from unknown destinations), Hong Kong (60,000 MT), and Taiwan (50,100 MT), were partially offset by decreases for unknown destinations (422,500 MT), Vietnam (28,000 MT), Israel (12,500 MT), and Switzerland (8,000 MT). Net sales of 771,000 MT for delivery in the 2013-14 marketing year were for China (691,000 MT), unknown destinations (55,000 MT), and Italy (25,000 MT).
Weekly Export Details
Exports of 1,554,700 MT were up 37% from the previous week and 32% from the prior 4-week average. The primary destinations were China (828,300 MT), Spain (142,300 MT), the Netherlands (135,800 MT), Indonesia (81,200 MT), and Germany (76,000 MT). NOTE: Accumulated exports were adjusted down for the Netherlands (76,000 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: 196,000 MT
Trade Expectations
75,000 to 175,000 MT
Weekly Sales Details
Net sales of 196,300 MT for the 2012-13 marketing year were up 39% from the previous week and 10% from the prior 4-week average. Increases reported for Canada (39,500 MT), Vietnam (37,200 MT), Libya (30,200 MT, switched from unknown destinations), Turkey (29,500 MT, including 27,500 MT switched from unknown destinations and decreases of 800 MT), Poland (28,600 MT, including 26,000 MT switched from unknown destinations), and Mexico (26,300 MT), were partially offset by decreases for unknown destinations (83,800 MT).
Weekly Export Details
Exports of 316,700 MT were down 9% from the previous week, but up 3% from the prior 4-week average. The primary destinations were Turkey (116,500 MT), Libya (30,200 MT), Poland (28,600 MT), Mexico (24,800 MT), and Cuba (24,200 MT).
Comments and Performance Indicators
Sales were above 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: 25,500 MT<​/b>

Trade Expectations
10,000 to 30,000 MT
Weekly Sales Details
Net sales of 25,500 MT for the 2012-13 marketing year were up 27% from the previous week and 46% from the prior 4-week average. Increases reported for Egypt (30,000 MT, switched from unknown destinations), Colombia (8,000 MT), China (5,000 MT), and Morocco (3,500 MT), were partially offset by decreases for unknown destinations (30,000 MT).
Weekly Export Details
Exports of 34,000 MT were up 46% from the previous week and 12% from the prior 4-week average. The primary destinations were Egypt (30,000 MT), Mexico (2,300 MT), Canada (1,000 MT), and Nicaragua (400 MT).
Comments and Performance Indicators
Sales matched expectations. Export commitments for the new marketing year are 242% ahead of year-ago, compared to 268% 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: 113,100 RB
2012-13: 93,600 RB
2013-14: 19,500 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 93,600 running bales for the 2012-13 marketing year were down 29% from the previous week and 58% from the prior 4-week average. Increases were reported for Turkey (31,000 RB), Vietnam (10,600 RB), Taiwan (10,100 RB, including 4,400 RB switched from Vietnam), Japan (8,300 RB), South Korea (5,500 RB), and Mexico (5,400 RB). Net sales of 19,500 RB for delivery in the 2013-14 marketing year were mainly for Mexico (8,100 RB) and Guatemala (7,500 RB).
Weekly Export Details
Exports of 440,100 RB--a marketing-year high--were up 61% from the previous week and 51% from the prior 4-week average. The primary destinations were China (192,900 RB), Turkey (65,800 RB), Pakistan (55,500 RB), Mexico (20,700 RB), Vietnam (20,100 RB), and Thailand (15,400 RB).
Comments and Performance Indicators
Export commitments are 4% behind year-ago compared to 5% 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)
<​b><​strong>2013: 9,700 MT
Weekly Sales Details
Net sales of 9,700 MT for delivery in 2013 were primarily for Mexico (3,300 MT), Canada (2,800 MT), South Korea (1,600 MT), the Netherlands (1,000 MT), and Vietnam (800 MT). Decreases were reported for Japan (2,900 MT).
Weekly Export Details
Exports of 17,500 MT were mainly to Mexico (3,900 MT), Canada (2,600 MT), South Korea (2,400 MT), Vietnam (2,100 MT), and Japan (1,800 MT).
Comments and Performance Indicators
Exports compare to 12,100 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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