Soybean Sales Top Expectations, Corn, Beef & Pork Fall Short

August 8, 2013 03:38 AM
 

 

The Weekly Export Sales Report for the week ended August 1, 2013, showed strong exports of soybeans with sales in excess of 1.09 MMT with Indonesia as the lead buyer. Wheat and corn exports were not as strong, however wheat was within the range of expectations while corn fell short of expectations. Soymeal missed expectations as well at 135,600 MT. Cotton export sales were again light. Beef exports were not as strong, down 21 percent from the previous week and pork sendouts were half the previous week's tally.

USDA Weekly Export Sales Report
Week Ended July 25, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 511,900 MT
2012-13: 291,000 MT
2013-14:
220,900 MT

Trade Expectations

600,000 to 1,000,000 MT

Weekly Sales Details

Net sales of 290,100 MT for 2012/2013 resulted as increases for Japan (169,000 MT, including 44,400 MT switched from unknown destinations and decreases of 9,000 MT), Saudi Arabia (69,700 MT, including 65,000 MT switched from unknown destinations), Venezuela (66,500 MT), Panama (28,000 MT), and Honduras (22,300 MT), were partially offset by decreases for unknown destinations (101,200 MT). Net sales of 220,900 MT for 2013/2014 were primarily for Mexico (96,400 MT), unknown destinations (53,300 MT), Japan (30,300 MT), and Colombia (21,700 MT).

Weekly Export Details

Exports of 430,400 MT were up 31 percent from the previous week and 39 percent from the prior 4-week average. The primary destinations were Japan (212,200 MT), Saudi Arabia (69,700 MT), Mexico (67,000 MT), and Venezuela (46,500 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are 52% behind year ago compared to 52% behind last week. USDA projects exports in 2012-13 to be 54.6% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2013-14: 726,000 MT
Trade Expectations
500,000 to 750,000 MT
Weekly Sales Details
Net sales of 726,200 MT for delivery in the 2013/2014 marketing year were up 22 percent from the previous week, but down 22 percent from the prior 4-week average. Increases were reported for Brazil (169,500 MT, including 27,000 MT switched from unknown destinations), Japan (122,500 MT), Taiwan (99,600 MT), and China (60,800 MT, including 55,000 MT switched from unknown destinations and decreases of 1,800 MT). Decreases were reported for unknown destinations (24,700 MT).
Weekly Export Details

Exports of 773,400 MT were up 23 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were China (180,300 MT), Brazil (121,500 MT), Mexico (100,300 MT), Nigeria (56,900 MT), Japan (54,300 MT), Taiwan (50,700 MT), and the Philippines (43,600 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the 2013-14 marketing year are running 42% ahead of year-ago, compared to 44% ahead last week. USDA projects exports in 2013-14 to be up 6.5% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 1,096,600 MT
2012-13: 79,000 MT
2013-14:
1,017,600 MT
Trade Expectations
550,000 to 1,050,000 MT
Weekly Sales Details
Net sales of 79,400 MT for 2012/2013 were up 1 percent from the previous week and 29 percent from the prior 4-week average. Increases reported for Indonesia (23,700 MT), Taiwan (16,400 MT), Malaysia (10,000 MT), Japan (10,000 MT), and Thailand (8,000 MT). Net sales of 1,017,600 MT for 2013/2014 were primarily for unknown destinations (525,000 MT), China (381,000 MT), and Egypt (60,000 MT). Decreases were reported for Thailand (22,500 MT).
Weekly Export Details
Exports of 49,500 MT--a marketing-year low--were down 36 percent from the previous week and 45 percent from the prior 4-week average. The primary destinations were Japan (18,800 MT), Mexico (10,600 MT), Vietnam (7,600 MT), Colombia (5,200 MT), and Taiwan (4,300 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are running 4% behind year-ago compared to 4% behind year-ago last week. USDA projects exports in 2012-13 to be 2.3% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
Combined: 135,600 MT
2012-13: 66,700 MT
2013-14: 68,900 MT
Trade Expectations
150,000 to 375,000 MT
Weekly Sales Details
Net sales of 66,700 MT for 2012/2013 were up noticeably from the previous week, but down 1 percent from the prior 4-week average. Increases were reported for the Dominican Republic (13,400 MT), Honduras (11,300 MT), the Philippines (10,500 MT), Canada (10,100 MT), Venezuela (7,700 MT, including 6,000 MT switched from unknown destinations), and Jamaica (7,000 MT), were partially offset by decreases for unknown destinations (5,800 MT) and Indonesia (2,000 MT). Net sales of 68,900 MT for 2013/2014 were primarily for Mexico (17,100 MT), China (14,000 MT), and Panama (12,500 MT).
Weekly Export Details
Exports of 94,100 MT were down 39 percent from the previous week and 29 percent from the prior 4-week average. The primary destinations were Venezuela (31,700 MT), Mexico (20,500 MT), Canada (14,900 MT), the Dominican Republic (9,400 MT), and Japan (4,700 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments are running 18% ahead of last year's pace compared to 19% ahead of year-ago last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 300 MT​<​/b>

Trade Expectations
0 MT to 25,000 MT
Weekly Sales Details
Net sales of 300 MT for 2012/2013 resulted as increases for South Korea (1,000 MT), Nicaragua (600 MT), and Panama (100 MT), were partially offset by decreases for Mexico (1,200 MT) and Canada (300 MT). Net sales of 2,200 MT for 2013/2014 were reported for Mexico.
Weekly Export Details
Exports of 3,300 MT were up noticeably from the previous week, but down 62 percent from the prior 4-week average. The primary destinations were Canada (1,000 MT)South Korea (1,000 MT), Nicaragua (600 MT), and Mexico (500 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 61% ahead of year-ago, compared to 65% ahead last week. USDA projects exports in 2012-13 to be 50.3% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)

2013-14:
81,400 RB
Trade Expectations
NA
Weekly Sales Details
Net sales of 81,400 RB for the 2013/2014 marketing year, which began August 1, resulted as increases for Vietnam (21,100 RB), Turkey (17,200 RB), El Salvador (10,400 RB), Mexico (8,100 RB), and Indonesia (7,900 RB), were partially offset by decreases for China (7,300 RB) and Morocco (1,100 RB). A total of 899,500 RB in sales were carried over from the 2012/2013 marketing year, which ended July 31.
Weekly Export Details
Exports for the period July 31 of 135,800 RB brought accumulated exports in 2012/2013 to 11,864,000 RB, up 9 percent from the prior year’s total of 10,875,500 RB. The primary destinations were Mexico (31,000 RB), China (21,700 RB), Turkey (16,200 RB), and Vietnam (16,200 RB). Exports for August 1 totaled 27,300 RB and were primarily to China (5,300 RB), Vietnam (5,100 RB), Peru (4,900 RB), and Mexico (3,300 RB).
Comments and Performance Indicators
Export commitments are 22% behind year-ago compared to 6% ahead with year-ago last week. USDA projects exports in 2012-13 to be 13.6% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
<​b>2013: 8,900 MT
Weekly Sales Details
Net sales of 8,900 MT for 2013 were primarily for Canada (2,400 MT), Japan (1,900 MT), Mexico (1,500 MT), South Korea (1,300 MT), and Hong Kong (1,000 MT). Decreases were reported for Egypt (100 MT). Net sales of 100 MT for 2014 were reported for Mexico.
Weekly Export Details
Exports of 14,500 MT were down 5 percent from the previous week and 2 percent from the prior 4-week average. The primary destinations were Japan (4,600 MT), Mexico (2,700 MT), Canada (2,300 MT), Hong Kong (1,800 MT), and South Korea (1,600 MT).
Comments and Performance Indicators
Exports compare to 11,400 MT last week. USDA projects exports in 2013 to be 5.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 4,800 MT
Weekly Sales Details
Net sales of 4,800 MT for 2013 were primarily for South Korea (800 MT), Hong Kong (700 MT), Mexico (600 MT), Japan (600 MT), and Canada (600 MT).
Weekly Export Details
Exports of 7,800 MT were primarily to Mexico (2,800 MT), Japan (1,100 MT), Hong Kong (1,100 MT), Canada (900 MT), and China (300 MT).
Comments and Performance Indicators
Exports compare to 9,600 MT last week. USDA projects exports in 2013 to be 6.6% below last year's total.

Link to USDA report.

 


 

 

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