Wheat Exports Sales Surge to More Than 1.675 MMT

April 18, 2013 03:03 AM
 

The Weekly Export Sales Report for the week ended April 11, 2013, featured wheat as the impressive market as sales in excess of 1 MMT for 2013-14 led to a total that was more than three times the top end of expectations. Corn export sales were again decent and within expectations as were soybeans. Cotton export sales were again strong, helping the pace of exports to move to 3% ahead of year-ago. Beef export sales improved for the week ended April 11, while pork sales slowed from the week prior.

USDA Weekly Export Sales Report
Week Ended April 11, 2013

Corn

Actual Sales (in metric tons -- MT)

Combined: 417,200 MT
2012-13: 400,300
M​T
2013-14: 16,900 MT

Trade Expectations

250,000 to 500,000 MT

Weekly Sales Details

Net sales of 400,300 MT for the 2012-13 marketing year were up noticeably from the previous week and 73% from the prior 4-week average. Increases reported for Japan (179,700 MT, including 74,200 MT switched from unknown destinations and decreases of 29,400 MT), unknown destinations (89,700 MT), Mexico (51,800 MT), Venezuela (45,100 MT, including 6,700 MT switched from unknown destinations and decreases of 1,500 MT), Colombia (24,000 MT), and Canada (8,100 MT), were partially offset by decreases for Honduras (3,400 MT) and Taiwan (2,600 MT). Net sales of 16,900 MT for the 2013-14 marketing year were for Mexico (10,900 MT) and unknown destinations (6,000 MT).

Weekly Export Details

Exports of 301,600 MT were up 8% from the previous week, but down 27% from the prior 4-week average. The primary destinations were Japan (99,600 MT), Venezuela (92,600 MT), Mexico (86,800 MT), Jamaica (9,400 MT), and Taiwan (6,100 MT).

Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are 54% behind year ago compared to 55% behind last week. USDA projects exports in 2012-13 to be 48.2% below the previous marketing year.

Wheat

Actual Sales (in metric tons -- MT)
Combined: 1,675,100 MT
2012-13: 552,100 MT
2013-14: 1,123,000 MT
Trade Expectations
200,000 to 450,000 MT
Weekly Sales Details
Net sales of 552,100 MT for the 2012-13 marketing year were up noticeably from the previous week and 51% from the prior 4-week average. Increases reported for Algeria (110,000 MT, including 20,000 MT switched from unknown destinations), Japan (89,700 MT, including 10,000 MT switched from unknown destinations and decreases of 6,500 MT), Nigeria (73,500 MT, including 30,000 MT switched from unknown destinations), Sri Lanka (64,100 MT, including 65,000 MT switched from unknown destinations and decreases of 1,700 MT), Taiwan (45,200 MT), and Guatemala (43,000 MT), were partially offset by decreases for Mexico (41,100 MT), Uruguay (25,000 MT), and unknown destinations (15,700 MT). Net sales of 1,122,600 MT for the 2013-14 marketing year were primarily for China (840,000 MT), Mexico (84,800 MT), Guatemala (41,000 MT), and Taiwan (37,600 MT).
Weekly Export Details
Exports of 704,000 MT were down 8% from the previous, but
up 16% from the prior 4-week average. The primary destinations were
Nigeria (109,700 MT), Brazil (74,700 MT), Sri Lanka (64,100 MT), Yemen (58,600
MT), China (55,700 MT), and Mexico (51,600 MT).

 

Comments and Performance Indicators

Sales were well above expectations. Export commitments for the 2012-13 marketing year are 2% behind year-ago, compared to 3% behind last week. USDA projects exports in 2012-13 to be down 2.4% compared with the previous marketing year.

Soybeans

 
Actual Sales (in metric tons -- MT)
Combined: 566,800 MT
2012-13: 339,400<​/strong> MT
2013-14: 227,400 MT
Trade Expectations
400,000 to 700,000 MT
Weekly Sales Details
Net sales of 339,400 MT for the 2012-13 marketing year were up 6% from the previous week and up 53% from the prior 4-week average. Increases were reported for the Netherlands (91,700 MT), China (64,000 MT), Japan (40,000 MT), Mexico (32,900 MT), France (31,700 MT), and South Korea (25,100 MT, including 25,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (4,000 MT). Net sales of 227,400 MT for delivery in the 2013-14 marketing year were primarily for unknown destinations (154,500 MT) and China (60,000 MT).
Weekly Export Details
Exports of 181,100 MT--a marketing-year low--were down 72% from the previous week and 62% from the prior 4-week average. The primary destinations were the Netherlands (31,700 MT), France (31,700 MT), Mexico (31,500 MT), South Korea (27,600 MT), Taiwan (14,800 MT), Vietnam (13,000 MT), and Morocco (12,900 MT).
Comments and Performance Indicators

Sales were within expectations. Export commitments for the new marketing year are running 13% ahead of year-ago compared to 13% ahead last week. USDA projects exports in 2012-13 to be 0.9% below the previous marketing year.

Soymeal

Actual Sales (in metric tons -- MT)
<​b>Combined: 315,200 MT
2012-13: 266,000
MT
2013-14: 49,200 MT
Trade Expectations
100,000 to 250,000 MT
Weekly Sales Details
Net sales of 266,000 MT for the 2012-13 marketing year were down 17% from the previous week and 77% from the prior 4-week average. Increases were reported for Egypt (38,000 MT), Venezuela (36,000 MT, including 9,000 MT switched from unknown destinations), the Dominican Republic (29,700 MT), Ireland (20,000 MT), Mexico (19,500 MT), and El Salvador (15,600 MT, including 2,400 MT switched from unknown destinations). Decreases were reported for Panama (1,500 MT). Net sales of 49,200 MT for delivery in the 2013-14 marketing year were reported for the Philippines (40,000 MT), Saudi Arabia (7,000 MT), and Canada (2,200 MT).
Weekly Export Details
Exports of 159,700 MT were up 29% from the previous week, but down 24% from the prior 4-week average. The primary destinations were Mexico (26,600 MT), Cuba (22,000 MT), Venezuela (20,300 MT), Morocco (19,600 MT), Canada (14,900 MT), Guatemala (13,700 MT), and Japan (10,100 MT).
Comments and Performance Indicators
Sales were above expectations. Export commitments are running 39% ahead of last year's pace compared to 41% ahead of year-ago last week. USDA projects exports in 2012-13 to be 4.0% behind the previous marketing year.

Soyoil

Actual Sales (in metric tons -- MT)

<​b><​strong> 2012-13: 8,200 MT<​/strong>

Trade Expectations
0 to 15,000 MT
Weekly Sales Details
Net sales of 8,200 MT for the 2012-13 marketing year resulted as increases for Mexico (7,800 MT), Jamaica (500 MT), and China (500 MT), were partially offset by decreases for Canada (1,000 MT).
Weekly Export Details
Exports of 39,400 MT were up noticeably from the previous week and from the prior 4-week average. The primary destinations were China (32,500 MT), Mexico (6,000 MT), and Canada (700 MT).
Comments and Performance Indicators
Sales were within expectations. Export commitments for the new marketing year are 132% ahead of year-ago, compared to 146% ahead last week. USDA projects exports in 2012-13 to be 57.1% ahead of the previous marketing year.

Cotton

Actual Sales (in running bales -- RB)
Combined: 247,200 RB
2012-13: 211,200 RB
2013-14: 36,000 RB
Trade Expectations
NA
Weekly Sales Details
Net Upland sales of 211,200 running bales for the 2012-13 marketing year were up 44% from the previous week and 53% from the prior 4-week average. Increases were reported for China (115,200 RB), Vietnam (20,600 RB, including 1,300 RB switched from South Korea), Hong Kong (16,500 RB), Indonesia (13,400 RB), and Turkey (12,800 RB). Decreases were reported for Mexico (10,300 RB). Net sales of 36,000 RB for delivery in the 2013-14 marketing year were primarily for South Korea (18,700 RB) and Mexico (18,000 RB). Decreases were reported for Turkey (3,900 RB).
Weekly Export Details
Exports of 396,100 RB were up 46% from the previous week and 27% from the prior 4-week average. The primary destinations were China (210,700 RB), Turkey (60,500 RB), Vietnam (30,200 RB), Mexico (16,100 RB), Indonesia (15,100 RB), and South Korea (14,200 RB).
Comments and Performance Indicators
Export commitments are 3% ahead of year-ago compared to 1% behind last week. USDA projects exports in 2012-13 to be 11.0% ahead of the previous marketing year.

Beef

Actual Sales (in metric tons -- MT)
<​strong>2013: 16,800 MT
Weekly Sales Details
Net sales of 16,800 MT were up 65% from the previous week and 26% from the prior 4-week average. Increases were reported for Japan (11,200 MT), Mexico (2,000 MT), Canada (1,400 MT), South Korea (1,200 MT), and Hong Kong (400 MT).
Weekly Export Details
Exports of 12,100 MT were primarily to Japan (3,700 MT), Mexico (2,200 MT), South Korea (1,600 MT), Canada (1,500 MT), and Hong Kong (800 MT).
Comments and Performance Indicators
Exports compare to 10,200 MT last week. USDA projects exports in 2013 to be 1.2% below last year's total.

Pork

Actual Sales (in metric tons -- MT)
<​b>2013: 8,300 MT<​/strong>
Weekly Sales Details
Net sales of 8,300 MT for delivery in 2013 were primarily for Mexico (2,500 MT), Hong Kong (1,900 MT), Japan (900 MT), Canada (800 MT), and South Korea (700 MT).
Weekly Export Details
Exports of 7,700 MT were primarily to Mexico (2,900 MT), Canada (1,400 MT), Japan (1,100 MT), South Korea (500 MT), and Hong Kong (300 MT).
Comments and Performance Indicators
Exports compare to 13,300 MT last week. USDA projects exports in 2013 to be 3.3% below last year's total.

Link to USDA report.

 


 

 

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