Weekly Soybean, Wheat Sales Top Expectations, Corn Disappoints

December 30, 2011 01:50 AM
 

The Weekly Export Sales Report for the week ended Dec. 22, showed soybean and wheat export sales above expectations, while weekly corn sales came in below the low end of expectations. Soymeal and soyoil were within expectations while cotton sales reflect tapering demand.

 

USDA Weekly Export Sales Report
Week Ended Dec. 22, 2011

Corn

Actual Sales (in metric tons -- MT)

Combined: 345,200 MT
2011-12: 318,800 MT
2012-13:
26,400 MT

Trade Expectations

400,000 to 600,000 MT

Weekly Sales Details

Net sales of 318,800 MT for the 2011-12 marketing year resulted as increases for Japan (194,700 MT, including 77,900 MT switched from unknown destinations), China (188,100 MT switched from unknown destinations), Mexico (125,700 MT, including 19,600 MT switched from unknown destination and decreases of 19,300 MT), Canada (25,400 MT), Taiwan (13,900 MT), and Honduras (11,600 MT), were partially offset by decreases for unknown destinations (285,500 MT) and South Korea (3,100 MT). Net sales of 26,400 MT for delivery in 2012-13 were reported for Japan (22,100 MT) and Mexico (4,300 MT). Optional origin sales of 90,000 MT were reported for Mexico.

Weekly Export Details

Exports of 946,300 MT were down 27 percent from the previous week and 6 percent from the prior 4-week average. The primary destinations were to China (253,200 MT), Japan (250,500 MT), South Korea (174,900 MT), Mexico (165,000 MT), Taiwan (32,000 MT), and Cuba (26,200 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments are 6% below year ago, compared to 5% 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: 431,200 MT
Trade Expectations
200,000 to 350,000 MT
Weekly Sales Details
Net sales of 431,200 MT for the 2011-12 marketing year were up 19 percent from the previous week and 7 percent from the prior 4-week average. Increases were primarily for Nigeria (142,600 MT), Mexico (75,600 MT, including 17,000 MT switched from unknown destinations), the Philippines (56,200 MT), Canada (55,000 MT), and Venezuela (28,800 MT). Decreases were reported for unknown destinations (58,900 MT).
Weekly Export Details
Exports of 413,700 MT were up 3 percent from the previous week, but down 1 percent from the prior 4-week average. The primary destinations were to Nigeria (101,500 MT), Japan (79,900 MT), the Philippines (52,200 MT), Mexico (46,500 MT), and Guatemala (28,700 MT).
Comments and Performance Indicators
Sales were above trade expectations. Export commitments are 23% behind year-ago, compared to 24% 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: 663,200 MT
2011-12: 662,700 MT
2012-13: 500 MT

Trade Expectations
300,000 to 600,000 MT
Weekly Sales Details
Net sales of 662,700 MT for the 2011-12 marketing year were up 1 percent from the previous week and 11 percent from the prior 4-week average. Increases were primarily for China (422,200 MT, including 60,000 MT switched from unknown destinations and decreases of 18,500 MT), Taiwan (60,000 MT), unknown destinations (53,500 MT), Japan (47,800 MT, including 19,500 MT switched from unknown destinations and decreases of 900 MT), the Netherlands (26,800 MT switched from unknown destinations), and Indonesia (21,900 MT). Optional origin sales of 60,000 MT were reported for China. Net sales of 500 MT for delivery in 2012-13 were reported for Japan.
Weekly Export Details
Exports of 1,068,500 MT were reported primarily to China (848,100 MT), Turkey (48,300 MT), Mexico (34,800 MT), the Netherlands (26,800 MT), Taiwan (26,300 MT), and Canada (26,000 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments are running 32% behind year-ago, which compares to 32% 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)

2011-12: 51,000 MT

Trade Expectations
70,000 to 150,000 MT
Weekly Sales Details
Net sales of 51,100 MT for the 2011-12 marketing year resulted as increases for Turkey (29,800 MT, including 20,000 MT switched from unknown destinations), Mexico (25,000 MT), Canada (14,000 MT), the Dominican Republic (4,100 MT), Morocco (3,500 MT), and Indonesia (2,900 MT, including 2,600 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (39,300 MT).
Weekly Export Details
Exports of 159,600 MT were primarily reported to Mexico (34,300 MT), Venezuela (24,500 MT), Canada (23,800 MT), Turkey (22,300 MT), Israel (18,100 MT), and the Dominican Republic (10,500 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments are running 16% behind year-ago, compared to 13% 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: 2,300 MT

Trade Expectations
0 to 15,000 MT
Weekly Sales Details
Net sales of 2,300 MT for delivery in 2011-12 marketing year were reported mainly for Nicaragua (1,900 MT), Mexico (200 MT), and Canada (100 MT).
Weekly Export Details
Exports of 2,700 MT were reported to Mexico (1,900 MT) and Canada (800 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are 83% below year-ago, compared to 83% 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: 95,500 RB
2011-12: 77,900 RB
2012-13:
17,600 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 77,900 running bales for the 2011-12 marketing year resulted as increases for China (71,500 RB), Vietnam (6,200 RB), Turkey (5,800 RB), Ecuador (5,000 RB), and Taiwan (2,000 RB), were partially offset by decreases for Thailand (4,200 RB), Italy (2,700 RB), India (2,200 RB), and unknown destinations (1,900 RB). Optional origin sales of 8,800 RB to China exercised to export the commodity from other than the United States. Exports for own account were reported for China (11,800 RB). Net sales of 17,600 RB for delivery in 2012-13 were reported mainly for China (13,200 RB) and Thailand (2,600 RB). Exports of 192,300 RB were up 6 percent from the previous week and 4 percent from the prior 4-week average. The primary destinations were China (89,000 RB), Turkey (42,100 RB), Mexico (10,900 RB), Thailand (9,900 RB), Indonesia (8,100 RB), and South Korea (6,200 RB).
Weekly Export Details
Exports of 22,200 RB were reported mainly to India (8,000 RB), Pakistan (4,800 RB), China (4,200 RB), Peru (1,500 RB), and Taiwan (500 RB).
Comments and Performance Indicators
Export commitments are 27% behind year-ago compared to 27% 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: 13,700 MT
2011: 6,600 MT
2012-13:
7,100 MT

Weekly Sales Details
Net sales of 6,600 MT for delivery in 2011 were primarily for Mexico (2,700 MT), Canada (1,400 MT), Japan (1,000 MT), South Korea (900 MT), and Russia (300 MT). Net sales of 7,100 MT for delivery in 2012 were primarily for South Korea (2,300 MT), Vietnam (1,400 MT), Mexico (1,200 MT), and Canada (600 MT).
Weekly Export Details
Exports of 15,000 MT were reported mainly to Mexico (3,000 MT), South Korea (2,900 MT), Japan (2,100 MT), Canada (1,800 MT), and Vietnam (1,400 MT).
Comments and Performance Indicators
Exports compare to 5,700 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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