Weekly Wheat Export Sales Surge Past 1 Million MT

December 28, 2012 01:51 AM
 

The Weekly Export Sales Report for the week ended Dec. 20, 2012, showed disappointing corn and soybean export sales. This was not suprising for the corn market as export demand has been lackluster for an extended period, but today's low tally was a major change for soybeans. This week's report included some of last week's soybean order cancellations. Wheat export sales, on the other hand, were impressive and a marked improvement from recent weeks. It appears U.S. wheat is finally competitive on the global market.

USDA Weekly Export Sales Report
Week Ended Dec. 20, 2012

Corn

Actual Sales (in metric tons -- MT)

2012-13: 104,300 MT<​/strong><​/b>

Trade Expectations

150,000 to 300,000 MT

Weekly Sales Details

Net sales of 104,300 MT for the 2012-13 marketing year were down 9% from the previous week and 37% from the prior 4-week average. Increases reported for Mexico (60,900 MT), Japan (45,100 MT, including 37,900 MT switched from unknown destinations and decreases of 900 MT), Colombia (10,000 MT), Taiwan (5,300 MT), and Honduras (3,200 MT), were partially offset by decreases for unknown destinations (22,500 MT).

Weekly Export Details

Exports of 286,600 MT were down 34% from the previous week and 15% from the prior 4-week average. The primary destinations were Japan (142,800 MT), Mexico (67,800 MT), Taiwan (31,800 MT), Honduras (28,400 MT), and Venezuela (10,000 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are 48% behind year ago compared to 48% behind last week. USDA projects exports in 2012-13 to be 25.5% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2012-13: 1,009,000 MT
Trade Expectations
500,000 to 700,000 MT
Weekly Sales Details
Net sales of 1,009,000 MT for the 2012-13 marketing year were up 55% from the previous week and up noticeably from the prior 4-week average. Increases were reported for Egypt (405,000 MT), unknown destinations (160,500 MT), Nigeria (126,700 MT), Japan (108,500 MT), and Turkey (62,500 MT). Decreases were reported for Guatemala (1,000 MT).
Weekly Export Details
Exports of 423,400 MT were up 4% from the previous week and 27% from the prior 4-week average. The primary destinations were Japan (130,000 MT), Mexico (49,900 MT), Guatemala (48,300 MT), Israel (40,500 MT), and Venezuela (30,200 MT).
Comments and Performance Indicators
Sales were well above expectations. Export commitments for the 2012-13 marketing year are 4% behind year-ago, compared to 8% behind last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
2012-13: 87,000 MT
Trade Expectations
100,000 to 300,000 MT
Weekly Sales Details
Net sales of 87,000 MT for the 2012-13 marketing year resulted as increases for Indonesia (144,800 MT, including 68,000 MT switched from unknown destinations and decreases of 1,000 MT), Germany (117,500 MT, including 104,000 MT switched from unknown destinations), Vietnam (76,000 MT, including 65,000 MT switched from unknown destinations), Tunisia (30,000 MT), were offset by decreases for China (272,300 MT), unknown destinations (111,000 MT), Mexico (9,600 MT), and Colombia (1,700 MT).
Weekly Export Details
Net sales of 87,000 MT for the 2012-13 marketing year resulted as increases for Indonesia (144,800 MT, including 68,000 MT switched from unknown destinations and decreases of 1,000 MT), Germany (117,500 MT, including 104,000 MT switched from unknown destinations), Vietnam (76,000 MT, including 65,000 MT switched from unknown destinations), Tunisia (30,000 MT), were offset by decreases for China (272,300 MT), unknown destinations (111,000 MT), Mexico (9,600 MT), and Colombia (1,700 MT).
Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are running 28% ahead of year-ago compared to 31% ahead last week. USDA projects exports in 2012-13 to be 1.2% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
2012-13: 124,700 MT
Trade Expectations
200,000 to 300,000 MT
Weekly Sales Details
Net sales of 124,700 MT for the 2012-13 marketing year were down 68% from the previous week and 65% from the prior 4-week average. Increases were reported for Mexico (46,200 MT), unknown destinations (34,000 MT), Canada (11,900 MT), Vietnam (10,000 MT), and Indonesia (9,500 MT). Decreases were reported for Honduras (8,300 MT).
Weekly Export Details
Exports of 158,500 MT were down 33% from the previous week and 41% from the prior 4-week average. The primary destinations were Mexico (31,900 MT), Canada (24,400 MT), Turkey (17,600 MT), the Dominican Republic (17,100 MT), and Venezuela (16,000 MT).
Comments and Performance Indicators
Sales were below expectations. Export commitments are running 45% ahead of last year's pace compared to 43% ahead of year-ago last week. USDA projects exports in 2012-13 to be 15.8% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 17,200 MT<​/b>

Trade Expectations
0 to 20,000 MT
Weekly Sales Details
Net sales of 17,200 MT for the 2012-13 marketing year were primarily for India (20,000 MT, switched from unknown destinations), China (13,000 MT), Mexico (2,000 MT), and Nicaragua (1,000 MT). Decreases were reported for unknown destinations (20,000 MT).
Weekly Export Details
Exports of 35,500 MT were up noticeably from the previous week and 86% from the prior 4-week average. The primary destinations were India (20,000 MT), Morocco (5,200 MT), and Algeria (5,200 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 288% ahead of year-ago, compared to 282% ahead last week. USDA projects exports in 2012-13 to be 23.0% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 287,200 RB
2012-13: 283,300 RB
2013-14: 3,900 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 283,300 running bales for the 2012-13 marketing year were down 15% from the previous week and from the prior 4-week average. Increases were reported for China (146,200 RB), Turkey (58,500 RB), South Korea (14,700 RB), Thailand (13,900 RB, including 7,000 RB switched from Japan), and Vietnam (13,000 RB). Decreases were reported for Japan (300 RB). Net sales of 3,900 RB for delivery in the 2013-14 marketing year were for Vietnam (2,600 RB) and El Salvador (1,200 RB).
Weekly Export Details
Exports of 174,600 RB were up 3% from the previous week and 1% from the prior 4-week average. The primary destinations were China (75,200 RB), Turkey (26,800 RB), Vietnam (23,300 RB), Thailand (8,200 RB), and Taiwan (8,000 RB).
Comments and Performance Indicators
Export commitments are 15% behind year-ago compared to 17% behind last week. USDA projects exports in 2012-13 to be 0.7% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)

Combined: 23,700 MT
2012: 11,000 MT
2013: 12,700 MT

Weekly Sales Details
Net sales of 11,000 MT were down 16% from the previous week and 15% from the prior 4-week average. Increases were reported for Mexico (5,900 MT), Canada (2,300 MT), Hong Kong (1,400 MT), Japan (1,000 MT), and Egypt (800 MT). Decreases were reported for Vietnam (800 MT) and Taiwan (400 MT). Net sales of 12,700 MT for delivery in the 2013 marketing year were primarily for Vietnam (4,500 MT), South Korea (2,600 MT), Hong Kong (2,000 MT), and Japan (1,400 MT).
Weekly Export Details
Exports of 17,800 MT were primarily to Mexico (5,000 MT), South Korea (3,100 MT), Canada (2,400 MT), Japan (2,100 MT), and Vietnam (1,400 MT).
Comments and Performance Indicators
Exports compare to 19,500 MT last week. USDA projects exports in 2012 to be 11.3% below last year's total.

Link to USDA report.

 


 

 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close