Wheat & Soybean Export Sales Top Expectations

January 25, 2013 01:52 AM
 

The Weekly Export Sales Report for the week ended Jan. 17, 2013, showed that corn export demand remains dismal but wheat export demand seems to be on the rise. Meanwhile, soybean export demand remains highly impressive and much above the pace needed to reach USDA's export projection for this marketing year.

USDA Weekly Export Sales Report
Week Ended Jan. 17, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 189,800 MT
2012-13: 138,500 MT
2013-14: 51,300 MT

Trade Expectations

200,000 to 450,000 MT

Weekly Sales Details

Net sales of 138,500 MT for the 2012-13 marketing year resulted as increases for China (163,500 MT, including 180,000 MT switched from unknown destinations and decreases of 16,500 MT), Japan (98,500 MT, including 52,000 MT switched from unknown destinations and decreases of 3,100 MT), Mexico (48,300 MT), Honduras (11,000 MT, including 9,800 MT switched from El Salvador and decreases of 800 MT), and Taiwan (10,200 MT), were partially offset by decreases for unknown destinations (180,100 MT), El Salvador (9,800 MT), and Colombia (4,700 MT). Net sales of 51,300 MT for the 2013-14 marketing year were reported for Mexico (52,000 MT). Decreases were reported for Japan (700 MT).

Weekly Export Details

Exports of 369,500 MT were up 50% from the previous week and 75% from the prior 4-week average. The primary destinations were China (163,500 MT), Japan (110,300 MT), Mexico (46,800 MT), and Honduras (15,400 MT).

Comments and Performance Indicators

Sales were just below expectations. Export commitments for the new marketing year are 49% behind year ago compared to 49% behind last week. USDA projects exports in 2012-13 to be 38.4% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
<​b>Combined: 647,500 MT
2012-13: 572,500 MT
2013-14: 75,000 MT
Trade Expectations
350,000 to 550,000 MT
Weekly Sales Details
Net sales of 572,500 MT for the 2012-13 marketing year were up 7% from the previous week and 5% from the prior 4-week average. Increases were reported for Japan (107,900 MT), Nigeria (100,000 MT), Peru (70,000 MT), Egypt (67,200 MT), and the Philippines (66,500 MT). Decreases were reported for Colombia (1,200 MT). Net sales of 75,000 MT for the 2013-14 marketing year were reported for China (55,000 MT) and unknown destinations (20,000 MT).
Weekly Export Details
Exports of 559,300 MT were up 96% from the previous week and 99% from the prior 4-week average. The primary destinations were Japan (215,300 MT), Mexico (64,200 MT), China (57,800 MT), Yemen (54,500 MT), and Guatemala (37,200 MT). NOTE: Accumulated exports were adjusted down for hard red winter wheat for Japan (4,300 MT) and South Korea (2,200 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments for the 2012-13 marketing year are 4% behind year-ago, compared to 4% behind last week. USDA projects exports in 2012-13 to be steady with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 978,300 MT
2012-13: 383,300 MT
2013-14: 595,000 MT
Trade Expectations
750,000 to 950,000 MT
Weekly Sales Details
Net sales of 383,300 MT for the 2012-13 marketing year were for China (209,600 MT, including 163,000 MT switched from unknown destinations and decreases of 4,500 MT), the Netherlands (194,600 MT, including 140,000 MT switched from unknown destinations and 60,000 MT switched from China, and decreases of 17,400 MT), Mexico (77,000 MT), Germany (66,900 MT), Spain (55,900 MT, switched from the United Kingdom), and South Korea (54,300 MT, including 55,000 MT switched from unknown destinations and decreases of 700 MT). Decreases were reported for unknown destinations (374,000 MT) and the United Kingdom (60,000 MT). Net sales of 595,000 MT for delivery in the 2013-14 marketing year were for China (355,000 MT) and unknown destinations (240,000 MT).
Weekly Export Details
Exports of 1,272,100 MT were up 5% from the previous week and 14% from the prior 4-week average. The primary destinations were China (679,800 MT), the Netherlands (194,600 MT), Thailand (76,800 MT), Japan (71,100 MT), and Germany (66,900 MT). NOTE: Accumulated exports were adjusted down for the Netherlands (66,900 MT).
Comments and Performance Indicators

Sales were above expectations. Export commitments for the new marketing year are running 28% ahead of year-ago compared to 28% 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: 218,000​ MT​
Trade Expectations
200,000 to 300,000 MT
Weekly Sales Details
Net sales of 218,000 MT for the 2012-13 marketing year were down 8% from the previous week, but up 64% from the prior 4-week average. Increases were reported for Mexico (87,600 MT), Venezuela (53,000 MT), Turkey (18,000 MT), Honduras (15,200 MT, including 6,600 MT switched from El Salvador and decreases of 300 MT), Canada (10,500 MT), and Colombia (9,200 MT). Decreases were reported for El Salvador (6,600 MT) and unknown destinations (2,700 MT).
Weekly Export Details
Exports of 295,800 MT were down 21% from the previous week, but up 24% from the prior 4-week average. The primary destinations were the Philippines (98,500 MT), Venezuela (25,000 MT), the United Kingdom (25,000 MT), the Dominican Republic (24,700 MT), and Canada (18,100 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments are running 42% ahead of last year's pace compared to 42% ahead of year-ago last week. USDA projects exports in 2012-13 to be 10.7% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

2012-13: 26,300 MT<​/strong>

Trade Expectations
10,000 to 30,000 MT
Weekly Sales Details
Net sales of 26,300 MT for the 2012-13 marketing year were up noticeably from the previous week and 46% from the prior 4-week average. Increases were reported for South Korea (11,000 MT, switched from unknown destinations), China (8,000 MT, switched from unknown destinations), Guatemala (5,000 MT), and Venezuela (3,200 MT).
Weekly Export Details
Exports of 45,200 MT were up noticeably from the previous week and 47% from the prior 4-week average. The primary destinations were China (19,000 MT), South Korea (11,000 MT), Hong Kong (9,000 MT), and Mexico (4,700 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 261% ahead of year-ago, compared to 289% ahead last week. USDA projects exports in 2012-13 to be 46.9% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 243,400 RB
2012-13: 213,700 RB
2013-14: 29,700 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 213,700 running bales for the 2012-13 marketing year were down 37% from the previous week and 15% from the prior 4-week average. Increases were reported for Turkey (52,100 RB), China (40,400 RB), Mexico (35,700 RB), South Korea (28,100 RB), Thailand (13,100 RB), and Peru (12,700 RB). Decreases were reported for unknown destinations (1,100 RB). Net sales of 29,700 RB for delivery in the 2013-14 marketing year were for Mexico (19,200 RB), Thailand (9,400 RB), and South Korea (1,100 RB).
Weekly Export Details
Exports of 318,600 RB--a marketing-year-high--were up 1% from the previous week and 37% from the prior 4-week average. The primary destinations were China (88,100 RB), Turkey (36,400 RB), Mexico (29,900 RB), Pakistan (29,100 RB), Indonesia (22,500 RB), and Morocco (20,200 RB).
Comments and Performance Indicators
Export commitments are 10% behind year-ago compared to 10% behind last week. USDA projects exports in 2012-13 to be 4.2% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
2013: 14,200 MT<​/strong>
Weekly Sales Details
Net sales of 14,200 MT for delivery in 2013 were primarily for Mexico (4,200 MT), Vietnam (2,900 MT), Canada (2,200 MT), Hong Kong (1,200 MT), and Egypt (1,200 MT). Decreases were reported for Moldova (300 MT).
Weekly Export Details
Exports of 15,900 MT were mainly to Mexico (3,700 MT), South Korea (3,000 MT)Canada (2,400 MT), Japan (1,900 MT), Vietnam (1,300 MT), and Hong Kong (1,200 MT).
Comments and Performance Indicators
Exports compare to 18,000 MT last week. USDA projects exports in 2013 to be 1.4% below last year's total.

Link to USDA report.

 


 

 

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