Weekly Soybean Sales Above Expectations

September 29, 2011 04:17 AM
 

 

USDA Weekly Export Sales Report
Week Ended September 22, 2011

Corn

Actual Sales (in metric tons -- MT)

Combined: 812,900 MT
2011-12: 787,900 MT
2012-13: 25,000 MT

Trade Expectations

600,000 to 1,000,000 MT

Weekly Sales Details

Net sales of 787,900 MT for the 2011-12 marketing year were mainly reported for Japan (386,700 MT, including 48,600 MT switched from unknown destinations), China (182,100 MT, including 179,400 MT switched from unknown destinations), South Korea (132,100 MT), Mexico (118,200 MT), and the Dominican Republic (37,900 MT, including 19,500 MT switched from unknown destinations and decreases of 1,200 MT). Decreases were reported for unknown destinations (147,800 MT). Net sales of 25,000 MT for delivery in 2012-13 were reported for Venezuela.

Weekly Export Details

Exports of 823,100 MT were primarily reported for China (182,100 MT), South Korea (172,500 MT), Mexico (138,400 MT), Japan (138,200 MT), Egypt (65,900 MT), and Taiwan (22,800 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments are down 9% from year ago, early in the marketing year. This compares to 9% behind last week.

Wheat

Actual Sales (in metric tons -- MT)
428,900 MT
Trade Expectations
350,000 to 650,000 MT
Weekly Sales Details
Net sales of 428,900 MT for the 2011-12 marketing year were down 37 percent from the previous week and 13 percent from the prior 4-week average. Increases were primarily for Mexico (116,100 MT), Nigeria (82,500 MT), Taiwan (45,600 MT), Peru (42,800 MT, including 25,000 MT switched from unknown destinations and decreases of 6,500 MT), Japan (34,400 MT), and Jamaica (29,000 MT). Decreases were reported for unknown destinations (38,500 MT).
Weekly Export Details
Exports of 521,600 MT were down 41 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were mainly to the Philippines (83,400 MT), Japan (60,100 MT), Mexico (58,900 MT), South Korea (56,900 MT), Iraq (52,500 MT), Israel (37,000 MT), and Peru (27,500 MT).
Comments and Performance Indicators
Sales were within trade expectations. Export commitments are 16% behind year-ago early in the marketing year, compared to 16% behind last week.

Soybeans

Actual Sales (in metric tons -- MT)

1,033,500 MT

Trade Expectations
500,000 to 800,000 MT
Weekly Sales Details
Net sales of 1,033,500 MT for the 2011-12 marketing year were mainly reported for China (845,600 MT, including 113,000 MT switched from unknown destinations), Mexico (190,800 MT), Egypt (27,000 MT), Japan (21,500 MT), Indonesia (19,100 MT, including 2,000 MT switched from Taiwan), and Turkey (16,500 MT). Optional origin sales were reported for China (66,000 MT).
Weekly Export Details
Exports of 321,900 MT were primarily reported to China (177,500 MT), Mexico (60,900 MT), Egypt (24,300 MT), Japan (20,600 MT), and Indonesia (14,000 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments are running 24% behind year-ago, which compares to 23% behind last week.

Soymeal

Actual Sales (in metric tons -- MT)

116,500 MT
2010-11: -8,700 MT
2011-12:
125,200 MT

Trade Expectations
55,000 to 180,000 MT
Weekly Sales Details
Net sales reductions of 8,700 MT resulted as increases for Ecuador (30,000 MT), Mexico (7,900 MT), Guatemala (6,500 MT, including 4,500 MT switched from unknown destinations and 2,000 MT switched from El Salvador), Canada (2,100 MT), and the Philippines (2,000 MT), were more than offset by decreases for unknown destinations (53,700 MT), El Salvador (4,100 MT), and Panama (2,000 MT). Net sales of 125,200 MT for delivery in 2011-12 were reported mainly for Canada (27,300 MT), Panama (23,900 MT), Morocco (15,000 MT), and the Dominican Republic (15,000 MT). Decreases were reported for Trinidad (1,800 MT) and Peru (1,700 MT).
Weekly Export Details
Exports of 68,900 MT were down 7 percent from the previous week and 23 percent from the prior 4-week average. The primary destinations were Canada (17,400 MT), Mexico (15,000 MT), the Dominican Republic (8,700 MT), Guatemala (6,500 MT), and El Salvador (6,400 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 20% behind year-ago compared to 19% behind last week.

Soyoil

Actual Sales (in metric tons -- MT)

-2,700 MT
2010-11: -7,200 MT
2011-12: 4,500 MT

Trade Expectations
up to 15,000 MT
Weekly Sales Details
Net sales reductions of 7,200 MT resulted as increases for Morocco (12,000 MT, switched from unknown destinations), were more than offset by decreases for unknown destinations (15,000 MT) and Canada (4,400 MT). Net sales of 4,500 MT for delivery in 2011-12 were mainly for Canada (4,000 MT).
Weekly Export Details
Exports of 14,100 MT were down 79 percent from the previous we
Comments and Performance Indicators
Sales were below expectations. Export commitments are 11% below year-ago compared to 11% below of year-ago last week.

Cotton

Actual Sales (in running bales -- RB)
222,600 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 222,600 running bales for the 2011-12 marketing year resulted as increases for China (199,400 RB), Turkey (36,200 RB), Taiwan (5,500 RB, including 1,600 RB switched from Japan), and Thailand (1,900 RB), were partially offset by decreases for Bangladesh (21,200 RB), Japan (2,600 RB), and South Korea (1,100 RB).
Weekly Export Details
Exports of 79,600 RB were mainly to China (36,900 RB), Mexico (12,800 RB), Vietnam (11,800 RB), Turkey (6,500 RB), and South Korea (3,000 RB).
Comments and Performance Indicators
Another week of net sales is a positive -- signaling demand has returned. Export commitments are 25% behind year-ago compared to 20% behind last week.

Beef

Actual Sales (in metric tons -- MT)

12,100 MT

Weekly Sales Details
Net sales of 12,100 MT for delivery in 2011 were primarily for Mexico (3,800 MT), South Korea (2,000 MT), Russia (1,600 MT), Canada (1,400 MT), and Hong Kong (900 MT).
Weekly Export Details
Exports of 17,000 MT were mainly to Mexico (4,200 MT), Japan (2,400 MT), Canada (2,300 MT), South Korea (2,000 MT), and Vietnam (1,900 MT).
Comments and Performance Indicators
Exports compare to 18,000 MT last week.

Link to USDA report.

 

 

 


Juli says: The strong soybean pace should lift the spirits of market bulls, signaling prices have attracted strong demand. The cotton sales tally is also impressive, as it marks consecutive weeks of net sales. This report also notes corn sales and exports to China. Although not large tonnage, it signals they were a buyer recently.

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