Corn, Soybeans and Wheat Export Sales Exceed Expectations
The Weekly Export Sales Report for the week ended Jan. 12, 2012, showed a strong pickup in export sales for all categories. Soybeans and its products showed an especially strong performance.
| USDA Weekly Export Sales Report | |
| Corn | |
| Actual Sales (in metric tons -- MT) | 2011-12: 759,900 MT |
| Trade Expectations | 550,000 to 750,000 MT |
| Weekly Sales Details | Net sales of 759,900 MT for the 2011-12 marketing year resulted as increases for Mexico (388,900 MT), South Korea (189,200 MT), China (132,200 MT, including 139,900 MT switched from unknown destination and decreases of 7,800 MT), Japan (124,900 MT, including 48,800 MT switched from unknown destinations and decreases of 14,500 MT), Venezuela (78,900 MT), and Cuba (52,400 MT, including 25,000 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (142,400 MT), Colombia (49,300 MT), Costa Rica (39,100 MT), and Guatemala (21,000 MT). |
| Weekly Export Details | Exports of 753,800 MT were up 1 percent from the previous week, but down 16 percent from the prior 4-week average. The primary destinations were to Mexico (244,700 MT), Japan (205,200 MT), China (137,700 MT), South Korea (68,500 MT), Taiwan (51,900 MT), and Cuba (27,400 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments are 7% below year ago, compared to 7% below last week. USDA projects exports in 2011-12 to be 10.1% below the previous marketing year. |
| Wheat | |
| Actual Sales (in metric tons -- MT) | Combined: 584,200 MT 2011-12: 587,200 MT 2012-13: 3,000 MT |
| Trade Expectations | 350,000 to 450,000 MT |
| Weekly Sales Details | Net sales of 587,200 MT for the 2011-12 marketing year were up 61 percent from the previous week and 81 percent from the prior 4-week average. Increases were primarily for Japan (141,000 MT), South Korea (133,400 MT), Nigeria (96,100 MT, including 25,000 MT switched from unknown destinations), Indonesia (65,000 MT, switched from unknown destinations), and Mexico (56,300 MT). Decreases were reported for Italy (9,000 MT). Net sales reductions of 3,000 MT for delivery in 2012-13 marketing year resulted as increases for Italy (9,000 MT), were more than offset by decreases for Nigeria (12,000 MT). |
| Weekly Export Details | Exports of 357,900 MT were up 82 percent from the previous week and unchanged from the prior 4-week average. The primary destinations were to Mexico (81,100 MT), Japan (73,000 MT), Nigeria (72,700 MT), Taiwan (35,800 MT), and Singapore (27,500 MT). |
| Comments and Performance Indicators | Sales were above trade expectations. Export commitments are 24% behind year-ago, compared to 23% behind last week. USDA projects exports in 2011-12 to be 26.3% below the previous marketing year. |
| Soybeans | |
| Actual Sales (in metric tons -- MT) | 2011-12: 991,100 MT |
| Trade Expectations | 550,000 to 750,000 MT |
| Weekly Sales Details | Net sales of 991,100 MT for the 2011-12 marketing year were up noticeably from the previous week and 95 percent from the prior 4-week average. Increases were primarily for China (367,500 MT, including 225,000 MT switched from unknown destinations and decreases of 70,100 MT), unknown destinations (336,500 MT), Indonesia (153,800 MT, including 44,000 MT switched from unknown destinations), Mexico (58,000 MT), Egypt (55,500 MT), and the Netherlands (24,000 MT, switched from unknown destinations). |
| Weekly Export Details | Exports of 1,078,500 MT were reported primarily to China (777,500 MT), Indonesia (73,000 MT), Mexico (57,300 MT), Egypt (55,500 MT), Japan (42,400 MT), and Taiwan (24,100 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments are running 30% behind year-ago, which compares to 31% behind last week. USDA projects exports in 2011-12 to be 15.1% below the previous marketing year. |
| Soymeal | |
| Actual Sales (in metric tons -- MT) | Combined: 178,200 MT |
| Trade Expectations | 50,000 to 150,000 MT |
| Weekly Sales Details | Net sales of 181,200 MT for the 2011-12 marketing year were up noticeably from the previous week and 88 percent from the prior 4-week average. Increases were primarily for Morocco (59,100 MT, including 20,000 MT switched from unknown destinations), Denmark (51,000 MT, including 50,000 MT switched from unknown destinations), the Philippines (45,800 MT), Egypt (40,000 MT), and Turkey (28,900 MT, including 25,000 MT switched from unknown destinations). Decreases were reported for unknown destinations (106,000 MT). Net sales reductions of 3,200 MT for delivery in 2012-13 marketing year were reported for Mexico. |
| Weekly Export Details | Exports of 279,900 MT -- a marketing-year high -- were up 89 percent from the previous week and 82 percent from the prior 4-week average. Increases were reported mainly to Turkey (71,200 MT), the Philippines (53,500 MT), Denmark (51,000 MT), Morocco (39,600 MT), Mexico (21,900 MT), and Canada (15,300 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments are running 13% 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: 18,700 MT |
| Trade Expectations | 5,000 to 10,000 MT |
| Weekly Sales Details | Net sales of 18,700 MT for delivery in 2011-12 marketing year resulted as increases for Morocco (20,000 MT), Mexico (4,300 MT), and Nicaragua (1,100 MT), were partially offset by decreases for Taiwan (5,800 MT), Canada (600 MT), and Costa Rica (300 MT). |
| Weekly Export Details | Exports of 9,800 MT were down 3 percent from the previous week, but up 41 percent from the prior 4-week average. Increases were reported mainly for Mexico (5,000 MT), Jamaica (3,500 MT), and Canada (800 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments are 81% below year-ago, compared to 82% below last week. USDA projects exports in 2011-12 to be 62.9% below the previous marketing year. |
| Cotton | |
| Actual Sales (in running bales -- RB) | 2011-12: 189,400 RB |
| Trade Expectations | NA |
| Weekly Sales Details | Net Upland sales of 189,400 running bales for the 2011-12 marketing year were up noticeably from the previous week and from the prior 4-week average. Increases were primarily for China (91,200 RB), Mexico (91,000 RB), Turkey (9,900 RB), and South Korea (3,200 RB). Decreases were reported for Vietnam (5,700 RB), Pakistan (5,300 RB), Peru (2,800 RB), and Honduras (2,200 RB). Net sales of 22,500 RB for delivery in 2012/2013 marketing year were reported mainly for Guatemala (7,500 RB), Mexico (6,700 RB), and Vietnam (5,300 RB). Options exercised to export the commodity from other than the United States were for Vietnam (1,300 RB). Optional origin cancellations were reported for China (2,100 RB). |
| Weekly Export Details | Exports of 234,200 RB were up 48 percent from the previous week and 36 percent from the prior 4-week average. The primary destinations were Mexico (92,100 RB), China (59,800 RB), Turkey (27,600 RB), and Vietnam (11,700 RB). |
| Comments and Performance Indicators | Export commitments are 26% behind year-ago compared to 27% behind last week. USDA projects exports in 2011-12 to be 23.5% below the previous marketing year. |
| Beef | |
| Actual Sales (in metric tons -- MT) | 2012: 16,200 MT |
| Weekly Sales Details | Net sales of 16,200 MT for delivery in 2012 were primarily for Mexico (4,500 MT), South Korea (3,100 MT), Japan (2,500 MT), Canada (2,100 MT), and Vietnam (1,300 MT). |
| Weekly Export Details | Exports or 13,100 MT were mainly to Mexico (2,800 MT), South Korea (2,600 MT), Canada (1,800 MT), Japan (1,800 MT), and Vietnam (1,400 MT). |
| Comments and Performance Indicators | Exports compare to 6,700 MT last week. USDA projects exports in 2012 to be 20.3% above last year's total. |
