Weekly Soybean Sales Above Expectations, Corn Below

November 17, 2011 01:48 AM
 

The Weekly Export Sales Report for the week ended Nov. 10 showed soybean sales above expectations while corn and wheat were below expectations. Beef sales were below last week.

 

 

USDA Weekly Export Sales Report
Week Ended Nov. 10, 2011

Corn

Actual Sales (in metric tons -- MT)

2011-12: 208,900 MT

Trade Expectations

350,000 to 600,000 MT

Weekly Sales Details

Net sales of 208,900 MT for the 2011-12 marketing year resulted as increases for South Korea (170,100 MT, including 114,600 MT switched from unknown destinations), Japan (149,500 MT, including 74,700 MT switched from unknown destinations and decreases of 5,100 MT), Mexico (144,000 MT, including 7,400 MT switched from unknown destinations and decreases of 37,900 MT), China (60,000 MT, switched from unknown destinations), and Saudi Arabia (55,900 MT, including 52,000 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (426,200 MT), Peru (5,600 MT), and Morocco (2,700 MT).

Weekly Export Details

Exports of 895,100 MT were up 43 percent from the previous week and 37 percent from the prior 4-week average. The primary destinations were to Mexico (293,000 MT), Japan (201,100 MT), South Korea (115,000 MT), China (63,400 MT), Saudi Arabia (55,900 MT), and Venezuela (31,000 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments are 1% above year ago, compared to 5% above last week. USDA projects exports in 2011-12 to be 12.8% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 334,600 MT
2011-12: 317,100 MT
2012-13:
17,500 MT
Trade Expectations
350,000 to 450,000 MT
Weekly Sales Details
Net sales of 317,100 MT for the 2011-12 marketing year were up 6 percent from the previous week, but down 5 percent from the prior 4-week average. Increases were primarily for Mexico (90,600 MT), Nigeria (63,600 MT, including 12,000 MT switched from unknown destinations and decreases of 1,400 MT), Japan (57,400 MT), Venezuela (37,400 MT), Colombia (34,700 MT), Israel (22,000 MT), and the United Kingdom (10,500 MT). Decreases were reported for unknown destinations (6,000 MT). Net sales of 17,500 MT for delivery in 2012-13 were for Mexico.
Weekly Export Details
Exports of 301,500 MT were down 15 percent from the previous week and 31 percent from the prior 4-week average. The primary destinations were to Taiwan (72,700 MT), Mexico (62,900 MT), Nigeria (57,400 MT), Venezuela (41,600 MT), South Korea (21,900 MT), Italy (19,800 MT), and the Dominican Republic (15,600 MT).
Comments and Performance Indicators
Sales were below trade expectations. Export commitments are 23% behind year-ago, compared to 19% 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: 751,200 MT
2011-12: 746,100 MT
2012-13:
5,100 MT

Trade Expectations
500,000-700,000 MT
Weekly Sales Details
Net sales of 746,100 MT for the 2011-12 marketing year resulted as increases for China (517,100 MT, including 126,000 MT switched from unknown destinations and decreases of 161,600 MT), unknown destinations (126,500 MT), Mexico (54,300 MT), Taiwan (17,500 MT), Japan (16,900 MT, including 18,000 MT switched from unknown destinations and decreases of 1,700 MT), and Thailand (7,500 MT), were partially offset by decreases for Tunisia (3,200 MT). Net sales of 5,100 MT for delivery in 2012-13 were for Japan.
Weekly Export Details
Exports of 1,428,600 MT were primarily reported to China (1,213,500 MT), Mexico (113,600 MT), Tunisia (26,800 MT), Japan (26,000 MT), Indonesia (17,100 MT), and Taiwan (12,700 MT). .
Comments and Performance Indicators

Sales were above expectations. Export commitments are running 35% behind year-ago, which compares to 36% 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: 201,500 MT

Trade Expectations
125,000-175,000 MT
Weekly Sales Details
Net sales of 201,500 MT for the 2011-12 marketing year were mainly reported for Mexico (96,700 MT), Ecuador (30,000 MT) Saudi Arabia (21,500 MT, including 20,000 MT switched from unknown destinations), unknown destinations (19,500 MT), Canada (13,900 MT), and the Philippines (8,900 MT). Decreases were reported for Peru (2,500 MT) and Colombia (1,800 MT).
Weekly Export Details
Exports of 141,600 MT were primarily reported to Mexico (32,100 MT), Venezuela (25,000 MT), Saudi Arabia (21,500 MT), Canada (19,500 MT), and the Dominican Republic (8,500 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments are running 11% behind year-ago, compared to 7% 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: 2,100 MT

Trade Expectations
5,000 to 15,000 MT
Weekly Sales Details
Net sales of 2,100 MT for delivery in 2011-12 resulted as increases for Colombia (2,000 MT) and Mexico (600 MT), were partially offset by decreases for Canada (600 MT).
Weekly Export Details
Exports of 3,400 MT were primarily reported to Mexico (2,600 MT) and Canada (700 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments are 85% below year-ago, compared to 87% 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: 641,000 RB
2011-12: 639,600 RB
2012-13: 1,400 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 639,600 running bales for the 2011-12 marketing year were mainly reported for China (627,200 RB), Vietnam (9,200 RB, including 8,800 RB switched from China), Peru (4,400 RB), and Mexico (4,000 RB), were partially offset by decreases for Indonesia (6,600 RB), unknown destinations (1,600 RB), and Thailand (900 RB). Net sales of 1,400 RB for delivery in 2012-13 were reported for Ecuador (900 RB) and Indonesia (500 RB). Optional origin sales of 528,000 RB were reported for China.
Weekly Export Details
Exports for own account were reported for China (5,000 RB). Exports of 163,000 RB were up 52 percent from the previous week and 90 percent from the prior 4-week average. The primary destinations were to China (84,300 RB), Mexico (20,900 RB), Vietnam (18,500 RB), and Turkey (9,900 RB).
Comments and Performance Indicators
Export commitments are 27% behind year-ago compared to 33% 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: 11,700 MT
2011: 11,100 MT
2012: 600 MT

Weekly Sales Details
Net sales of 11,100 MT for delivery in 2011 were primarily for South Korea (3,400 MT), Japan (1,800 MT), Mexico (1,700 MT), Canada (1,400 MT), and Taiwan (600 MT). Net sales of 600 MT for delivery in 2012 were reported for South Korea (400 MT) and Hong Kong (100 MT).
Weekly Export Details
Exports of 17,700 MT were mainly reported to Mexico (3,500 MT), Japan (2,800 MT), South Korea (2,200 MT), Canada (2,200 MT), and Russia (1,800 MT).
Comments and Performance Indicators
Exports compare to 15,300 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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