Wheat & Soybean Export Sales Match Expectations, Corn Disappoints

June 13, 2013 02:56 AM
 

The Weekly Export Sales Report for the week ended June 6, 2013, showed corn export sales declining slightly from week ago and falling short of expectations. Soybean and wheat export sales, came within expectations, but both tallies were also below week-ago. Cotton export sales were decent but below last week's strong sales. Meat sales picked up from the week prior.

USDA Weekly Export Sales Report
Week Ended June 6, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 149,500 MT
2012-13: 81,500 MT
2013-14: 68,000 MT

Trade Expectations

200,000 to 400,000 MT

Weekly Sales Details

Net sales of 81,500 MT for 2012-13 resulted as increases for Japan (56,700 MT, including 31,700 MT switched from unknown destinations and decreases of 4,500 MT), Venezuela (17,500 MT, including 10,500 MT switched from unknown destinations), Mexico (16,800 MT), and Jamaica (8,600 MT), were partially offset by decreases for unknown destinations (36,000 MT) and Panama (4,000 MT). Net sales of 68,000 MT for 2013-14 were for Mexico (44,600 MT), Japan (18,200 MT), China (7,800 MT), Taiwan (4,000 MT) and South Korea (600 MT). Decreases were reported for Trinidad (7,200 MT).

Weekly Export Details

Exports of 232,800 MT were down 35% from the previous week and 27% from the prior 4-week average. The primary destinations were Japan (80,800 MT), Mexico (78,000 MT), Venezuela (51,500 MT), and Trinidad (7,700 MT).

Comments and Performance Indicators

Sales were below expectations. Export commitments for the new marketing year are 55% behind year ago compared to 55% behind last week. USDA projects exports in 2012-13 to be 54.6% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
2013-14: 427,200 MT<​/b>
Trade Expectations
400,000 to 650,000 MT
Weekly Sales Details
Net sales for the 2013-14 marketing year, which began June 1, totaled 427,200 metric tons. Increases reported for Brazil (130,700 MT, including 25,000 MT switched from unknown destinations and decreases of 3,000 MT), Japan (94,700 MT), Peru (44,000 MT), Colombia (24,700 MT), and the Philippines (24,000 MT), were partially offset by decreases for the Dominican Republic (2,000 MT). A total of 1,185,500 metric tons in sales were carried over from the 2012-13 marketing year, which ended May 31.
Weekly Export Details

Exports for the period May 31 of 254,900 MT brought accumulated exports to 26,348,100 MT, unchanged from the prior year’s total of 26,627,300 MT. The primary destinations were the Philippines (98,000 MT), Brazil (58,400 MT), Peru (32,900 MT), Nigeria (30,600 MT), and Algeria (26,300 MT).

Exports for June 1-6 totaled 376,100 MT, with Brazil (89,200 MT), Nigeria (57,800 MT), China (57,800 MT), Mexico (32,700 MT), and South Korea (26,700 MT) being the main destinations.

Comments and Performance Indicators

Sales were within expectations. Export commitments to start the 2013-14 marketing year are 33% ahead of year-ago. USDA projects exports in 2013-14 to be down 3.5% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
<​b>Combined: 480,600 MT
2012-13: 33,500 MT
2013-14: 447,100 MT
Trade Expectations
300,000 to 700,000 MT
Weekly Sales Details
Net sales of 33,500 MT for 2012-13 resulted as increases for Japan (29,100 MT, including 18,000 MT switched from unknown destinations and decreases of 1,000 MT), Mexico (9,600 MT), Vietnam (7,000 MT), Taiwan (6,400 MT), and Israel (2,200 MT), were partially offset by decreases for unknown destinations (18,000 MT) and Indonesia (5,500 MT). Net sales of 447,100 MT for 2013-14 were primarily for China (407,200 MT) and Mexico (32,800 MT). Decreases were reported for Taiwan (4,000 MT).
Weekly Export Details
Exports of 128,800 MT were up 5% from the previous week and 2% from the prior 4-week average. The primary destinations were Japan (43,700 MT), Mexico (40,600 MT), Israel (11,700 MT), Indonesia (8,800 MT), and Vietnam (8,200 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are running steady with year-ago compared to 1% ahead last week. USDA projects exports in 2012-13 to be 2.3% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
Combined: 144,800 MT
2012-13: 97,700 MT
2013-14: 47,100 MT
<​/b>
Trade Expectations
125,000 to 300,000 MT
Weekly Sales Details
Net sales of 97,700 MT for 2012-13 were down 27% from the previous week and 20% from the prior 4-week average. Increases were reported for Venezuela (59,600 MT, including 20,600 MT switched from unknown destinations), Ecuador (28,000 MT), Mexico (18,800 MT), El Salvador (11,500 MT, including 5,500 MT switched from Guatemala and 5,400 MT switched from unknown destinations), and Israel (9,100 MT, including 8,500 MT switched from unknown destinations). Decreases were reported for unknown destinations (36,500 MT), Colombia (25,000 MT), and Bangladesh (1,100 MT). Net sales of 47,100 MT for 2013-14 were for the Philippines (46,400 MT) and Canada (700 MT).
Weekly Export Details
Exports of 153,100 MT were up 38% from the previous week and 12% from the prior 4-week average. The primary destinations were Ecuador (31,600 MT), Mexico (22,400 MT), Venezuela (20,600 MT), Canada (14,800 MT), El Salvador (13,100 MT), and Israel (9,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 34% ahead of last year's pace compared to 35% ahead of year-ago last week. USDA projects exports in 2012-13 to be 4.9% ahead of the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b><​strong> 2012-13: 13,200 MT​<​/strong>

Trade Expectations
10,000 MT to 20,000 MT
Weekly Sales Details
Net sales of 13,200 MT for 2012-13 resulted as increases for Canada (14,000 MT) and Nicaragua (1,000 MT), were partially offset by decreases for Mexico (1,900 MT).
Weekly Export Details
Exports of 12,300 MT were up noticeably from the previous week and 41% from the prior 4-week average. The primary destinations were Mexico (10,000 MT), Canada (1,200 MT), and Nicaragua (1,000 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 95% ahead of year-ago, compared to 95% ahead last week. USDA projects exports in 2012-13 to be 50.3% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 198,400 RB
2012-13: 101,100 RB
2013-14: 97,300 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 101,100 running bales for 2012-13 were down 45% from the previous week and 15% from the prior 4-week average. Increases were reported for China (37,600 RB), Turkey (26,400 RB), Vietnam (15,800 RB), Mexico (7,400 RB), and Morocco (3,000 RB). Decreases were reported for South Korea (2,400 RB) and Japan (1,100 RB). Net sales of 97,300 RB for 2013-14 were reported primarily for Japan (38,900 RB), Vietnam (22,000 RB), and Indonesia (13,600 RB).
Weekly Export Details
Exports of 232,300 RB were down 16% from the previous week and 17% from the prior 4-week average. The primary destinations were Turkey (62,400 RB), China (60,400 RB), Mexico (23,400 RB), Vietnam (13,800 RB), Indonesia (11,500 RB), and Colombia (8,400 RB).
Comments and Performance Indicators
Export commitments are steady with year-ago compared to 6% ahead last week. USDA projects exports in 2012-13 to be 16.1% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
<​strong>2013: 13,100 MT<​/strong>
Weekly Sales Details
Net sales of 13,100 MT for 2013 were primarily for Japan (3,800 MT), Canada (3,300 MT), South Korea (1,700 MT), Hong Kong (1,600 MT), and Mexico (1,500 MT).
Weekly Export Details
Exports of 15,000 MT--a marketing-year high--were up 29% from the previous week and 15% from the prior 4-week average. The primary destinations were Japan (5,400 MT), Mexico (2,800 MT), Hong Kong (2,200 MT), Canada (2,100 MT), and South Korea (1,100 MT).
Comments and Performance Indicators
Exports compare to 12,800 MT last week. USDA projects exports in 2013 to be 5.8% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
2013: 12,100 MT
Weekly Sales Details
Net sales of 12,100 MT for 2013 were primarily for Mexico (5,100 MT), Hong Kong (2,800 MT), Japan (1,400 MT), Canada (800 MT), and Ukraine (600 MT).
Weekly Export Details
Exports of 8,700 MT were primarily to Mexico (3,300 MT), Japan (1,300 MT), Canada (1,100 MT), Hong Kong (600 MT), and South Korea (600 MT).
Comments and Performance Indicators
Exports compare to 6,600 MT last week. USDA projects exports in 2013 to be 6.6% below last year's total.

Link to USDA report.

 


 

 

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