Weekly Corn & Soybean Sales Above Expectations

December 8, 2011 01:45 AM
 

 

 

The Weekly Export Sales Report for the week ended Dec. 1, showed corn and soybean sales above expectations, including sales to China; wheat sales were disappointing.

 

 

USDA Weekly Export Sales Report
Week Ended Dec. 1, 2011

Corn

Actual Sales (in metric tons -- MT)

Combined: 708,000 MT
2011-12: 695,500 MT
2012-13: 12,500 MT

Trade Expectations

350,000 to 450,000 MT

Weekly Sales Details

Net sales of 695,500 MT for the 2011-12 marketing year resulted as increases for Mexico (399,500 MT), Japan (240,800 MT, including 135,000 MT switched from unknown destinations), China (238,100 MT, including 179,500 MT switched from unknown destinations and decreases of 1,500 MT), Saudi Arabia (59,800 MT, switched from unknown destinations), Morocco (25,000 MT), and Canada (22,800 MT), were partially offset by decreases for unknown destinations (324,700 MT).  Net sales of 12,500 MT for delivery in 2012-13 were for Mexico.  Optional origin sales were reported for Mexico (30,000 MT). 

Weekly Export Details

Exports of 1,036,600 MT--a marketing-year high--were up 28 percent from the previous week and 26 percent from the prior 4-week average.  The primary destinations were to Japan (318,500 MT), China (295,200 MT), Mexico (160,100 MT), South Korea (115,500 MT), Saudi Arabia (59,800 MT), and Taiwan (25,100 MT). 

Comments and Performance Indicators

Sales were above expectations. Export commitments are 3% below year ago, compared to 3% below last week. USDA projects exports in 2011-12 to be 12.8% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2011-12: 427,200 MT
Trade Expectations
450,000 to 650,000 MT
Weekly Sales Details
Net sales of 427,200 MT for the 2011-12 marketing year were down 15 percent from the previous week and 1 percent from the prior 4-week average.  Increases were primarily for Nigeria (98,000 MT, including 11,500 MT switched from unknown destinations and decreases of 3,000 MT), Japan (69,700 MT), Mexico (66,800 MT), Thailand (50,000 MT), unknown destinations (37,000 MT), Brazil (27,000 MT, switched from unknown destinations), the Philippines (16,500 MT), and Colombia (14,200 MT, including 12,000 MT switched from unknown destinations).  Decreases were reported for China (1,000 MT) and Venezuela (800 MT).
Weekly Export Details
Exports of 430,300 MT were up 43 percent from the previous week and 30 percent from the prior 4-week average.  The primary destinations were to Japan (109,600 MT), the Philippines (100,500 MT), Taiwan (45,400 MT), Brazil (27,000 MT), Nigeria (24,200 MT), Colombia (24,200 MT), Mexico (23,100 MT), and Jamaica (20,300 MT). 
Comments and Performance Indicators
Sales were below trade expectations. Export commitments are 22% behind year-ago, compared to 22% behind last week. USDA projects exports in 2011-12 to be 24.4% below the previous marketing year.

Soybeans

Actual Sales (in metric tons -- MT)

Combined: 795,600 MT
2011-12: 770,400 MT
2012-13: 25,200 MT

Trade Expectations
550,000-650,000 MT
Weekly Sales Details
Net sales of 770,400 MT for the 2011-12 marketing year resulted as increases for China (551,100 MT, including 55,000 MT switched from unknown destinations and decreases of 57,900 MT), Germany (76,400 MT, including 70,000 MT switched from unknown destinations), Mexico (76,400 MT), Turkey (55,000 MT), Japan (40,500 MT, including 9,000 MT switched from unknown destinations and decreases of 300 MT), and Taiwan (26,000 MT), were partially offset by decreases for unknown destinations (74,500 MT), Egypt (14,800 MT), and the Dominican Republic (6,000 MT).  Net sales of 25,200 MT for delivery in 2012-13 were for Japan. 
Weekly Export Details
Exports of 846,600 MT were primarily reported to China (612,100 MT), Germany (76,400 MT), Egypt (45,200 MT), Mexico (33,600 MT), Taiwan (30,400 MT), and Malaysia (13,400 MT). 
Comments and Performance Indicators

Sales were above expectations. Export commitments are running 34% behind year-ago, which compares to 35% behind last week. USDA projects exports in 2011-12 to be 11.7% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)

2010-11: 170,000 MT

Trade Expectations
150,000-250,000 MT
Weekly Sales Details
Net sales of 170,000 MT for the 2011-12 marketing year were mainly reported for Venezuela (54,500 MT), the Dominican Republic (29,300 MT), Italy (26,600 MT, including 25,000 MT switched from unknown destinations), Turkey (21,000 MT), Canada (16,800 MT), and Panama (10,600 MT).  Decreases were reported for Egypt (5,000 MT), unknown destinations (4,600 MT), and Jamaica (1,800 MT). 
Weekly Export Details
Exports of 105,800 MT were reported primarily to Mexico (27,100 MT), Italy (26,600 MT), Canada (25,300 MT), the Dominican Republic (6,300 MT), and Panama (6,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 12% behind year-ago, compared to 12% behind last week. USDA projects exports in 2011-12 to be 3.3% below the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2011-12: 18,500 MT

Trade Expectations
5,000 to 15,000 MT
Weekly Sales Details
Net sales of 18,500 MT for delivery in 2011-12 resulted as increases for Morocco (17,000 MT) and the Dominican Republic (1,800 MT), were partially offset by decreases for Canada (200 MT) and Mexico (200 MT). 
Weekly Export Details
Exports of 28,600 MT were reported primarily to Morocco (20,000 MT), the Dominican Republic (4,100 MT), Mexico (3,700 MT), and Canada (700 MT).  
Comments and Performance Indicators
Sales were within expectations. Export commitments are 82% below year-ago, compared to 84% below last week. USDA projects exports in 2011-12 to be 53.8% below the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: -33,000 RB
2011-12: -34,100 RB
2012-13: 1,100 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales reductions of 34,100 running bales for the 2011-12 marketing year resulted as increases for China (26,700 RB), Mexico (6,600 RB), Turkey (4,200 RB), and Indonesia (3,400 RB), were more than offset by decreases for Bangladesh (32,800 RB), South Korea (16,500 RB), Vietnam (14,300 RB), and Pakistan (7,900 RB).  Option exercised to export the commodity from other than the United States were for Vietnam (14,100 RB).  Net sales of 1,100 RB for delivery in 2012-13 were reported for unknown destinations. 
Weekly Export Details
Exports of 225,200 RB were up 48 percent from the previous week and 59 percent from the prior 4-week average.  The primary destinations were China (117,900 RB), Turkey (37,400 RB), Mexico (16,900 RB), and South Korea (12,200 RB).  
Comments and Performance Indicators
Export commitments are 25% behind year-ago compared to 23% behind last week. USDA projects exports in 2011-12 to be 21.4% below the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

Combined: 21,000 MT
2011: 15,800 MT
2012: 5,200 MT

Weekly Sales Details
Net sales of 15,800 MT for delivery in 2011 were primarily for Mexico (4,900 MT), Canada (2,700 MT), Japan (2,700 MT), South Korea (1,700 MT), and Vietnam (900 MT).  Net sales of 5,200 MT for delivery in 2012 were primarily for the Netherlands (2,500 MT), Japan (1,100 MT), and Taiwan (400 MT). 
Weekly Export Details
Exports of 16,100 MT were mainly reported to Mexico (3,300 MT), South Korea (2,700 MT), Japan (2,500 MT), Canada (2,400 MT), and Vietnam (1,500 MT).  
Comments and Performance Indicators
Exports compare to 9,100 MT last week. USDA projects exports in 2012 to be 20.3% above last year's total.

Link to USDA report.

 


 

 

 

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