Soybean Export Sales Top Expectations & Week-Ago
The Weekly Export Sales Report for the week ended Nov. 8, 2012, showed corn and wheat sales within expectations while soybean export sales came in above expectations and well above last week's disappointing total. Cotton export sales were also impressive, but beef sales slowed compared to recent weeks.
| USDA Weekly Export Sales Report | |
| Corn | |
| Actual Sales (in metric tons -- MT) | Combined: 312,100 MT |
| Trade Expectations | 200,000 to 400,000 MT |
| Weekly Sales Details | Net sales of 103,900 MT for the 2012-13 marketing year were down 34 percent from the previous week and 35 percent from the prior 4-week average. Increases reported for Japan (96,700 MT, including 34,400 MT switched from unknown destinations and decreases of 100 MT), China (48,400 MT, including 60,000 MT switched from unknown destinations and decreases of 11,600 MT), Taiwan (20,200 MT), and Canada (1,900 MT), were partially offset by decreases for unknown destinations (31,900 MT) and Mexico (29,400 MT). Net sales of 208,200 MT for delivery in the 2013-14 marketing year were for Japan. |
| Weekly Export Details | Exports of 232,000 MT were down 41 percent from the previous week and 38 percent for the prior 4-week average. The primary destinations were Mexico (91,200 MT), Japan (75,700 MT), China (54,500 MT), Barbados (4,900 MT), Taiwan (3,100 MT), and Canada (1,500 MT). |
| Comments and Performance Indicators | Sales met 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: 314,600 MT |
| Trade Expectations | 250,000 to 450,000 MT |
| Weekly Sales Details | Net sales of 314,600 MT for the 2012-13 marketing year were up 50 percent from the previous week, but down 19 percent from the prior 4-week average. Increases were reported for the Philippines (99,700 MT), Nigeria (81,000 MT, including 6,000 MT switched from unknown destinations), Mexico (46,000 MT), Chile (33,000 MT), South Korea (22,500 MT), and Portugal (20,000 MT). Decreases were reported for the Dominican Republic (8,200 MT), unknown destinations (3,000 MT), and Barbados (2,400 MT). |
| Weekly Export Details | Exports of 298,500 MT were down 24 percent from the previous week, but unchanged from the prior 4-week average. The primary destinations were Nigeria (58,100 MT), Mexico (49,100 MT), Japan (37,200 MT), Chile (33,000 MT), Italy (24,700 MT), Indonesia (24,100 MT), and the Philippines (19,700 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments for the new marketing year are 10% behind year-ago, compared to 10% behind last week. USDA projects exports in 2012-13 to be 4.8% ahead of the previous marketing year. |
| Soybeans | |
| Actual Sales (in metric tons -- MT) | Combined: 585,200 MT |
| Trade Expectations | 250,000 to 550,000 MT |
| Weekly Sales Details | Net sales of 559,700 MT for the 2012-13 marketing year were up noticeably from the previous week and 14 percent from the prior 4-week average. Increases reported for China (371,500 MT, including 58,800 MT switched from unknown destinations and decreases of 6,100 MT), Vietnam (93,100 MT, including 65,000 MT switched from unknown destinations), Thailand (79,400 MT, including 61,000 MT switched from unknown destinations), Spain (72,600 MT, including 66,200 MT switched from unknown destinations), and Mexico (62,600 MT), were partially offset by decreases for unknown destinations (346,200 MT) and Canada (3,800 MT). Net Sales of 25,500 MT for delivery in the 2013-14 marketing year were for Japan. |
| Weekly Export Details | Exports of 1,814,400 MT were up 4 percent from the previous week and 10 percent from the prior 4-week average. The primary destinations were China (1,280,100 MT), Taiwan (74,300 MT), Vietnam (72,700 MT), Spain (72,600 MT), and Thailand (71,100 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments for the new marketing year are running 33% ahead of year-ago compared to 36% 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: 234,600 MT |
| Trade Expectations | 150,000 to 250,000 MT |
| Weekly Sales Details | Net sales of 234,600 MT for the 2012-13 marketing year were up 21 percent from the previous week and 61 percent from the prior 4-week average. Increases were reported for unknown destinations (66,200 MT), Peru (25,000 MT), Turkey (24,800 MT), Colombia (23,500 MT, including 7,000 MT switched from Panama and decreases of 200 MT), and Mexico (17,900 MT). Decreases were reported for Egypt (400 MT). |
| Weekly Export Details | Exports of 272,100 MT were up 45 percent from the previous week and from the prior 4-week average. The primary destinations were the Philippines (55,800 MT), Ireland (29,100 MT), Canada (26,800 MT), Mexico (25,500 MT), and Egypt (23,600 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments are running 24% ahead of last year's pace compared to 25% ahead of year-ago last week. USDA projects exports in 2012-13 to be 18.9% behind the previous marketing year. |
| Soyoil | |
| Actual Sales (in metric tons -- MT) | 2012-13: 21,000 MT |
| Trade Expectations | 20,000 to 50,000 MT |
| Weekly Sales Details | Net sales of 21,000 MT resulted as increases for South Korea (11,000 MT), China (9,000 MT), Mexico (7,100 MT), and Colombia (4,000 MT), were partially offset by decreases for unknown destinations (10,700 MT). |
| Weekly Export Details | Exports of 4,600 MT were down 43 percent from the previous week and 83 percent from the prior 4-week average. The primary destinations were Mexico (3,100 MT), Canada (1,200 MT), and Trinidad (100 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments for the new marketing year are 195% ahead of year-ago, compared to 181% ahead last week. USDA projects exports in 2012-13 to be 18.0% below the previous marketing year. |
| Cotton | |
| Actual Sales (in running bales -- RB) | Combined: 372,300 RB 2012-13: 370,100 RB 2013-14: 2,200 RB |
| Trade Expectations | NA |
| Weekly Sales Details | Net Upland sales of 370,100 running bales for the 2012-13 marketing year were up 39 percent from the previous week and up noticeably from the prior 4-week average. Increases reported for Pakistan (121,300 RB), China (72,600 RB, including 600 RB switched from South Korea), Turkey (65,800 RB), Vietnam (34,500 RB), and Mexico (29,000 RB), were partially offset by decreases for Bangladesh (5,500 RB). Net sales of 2,200 RB for delivery in the 2013-14 marketing year were reported for Mexico. |
| Weekly Export Details | Exports of 106,100 RB were down 8 percent from the previous week, but up 15 percent from the prior 4-week average. The primary destinations were China (51,700 RB), Mexico (14,600 RB), Turkey (9,900 RB), and Peru (7,100 RB). |
| Comments and Performance Indicators | Export commitments are 28% behind year-ago compared to 26% behind last week. USDA projects exports in 2012-13 to be 0.9% behind the previous marketing year. |
| Beef | |
| Actual Sales (in metric tons -- MT) | Combined: 14,800 MT |
| Weekly Sales Details | Net sales of 11,300 MT were down 42 percent from the previous week and 30 percent from the prior 4-week average. Increases were reported for Mexico (3,100 MT), Canada (2,800 MT), South Korea (1,600 MT), Hong Kong (900 MT), and Taiwan (500 MT). Net sales of 3,500 MT for delivery in the 2013 marketing year were primarily for the Netherlands (2,700 MT) and Japan (700 MT). |
| Weekly Export Details | Exports of 15,300 MT were primarily to Mexico (2,700 MT), Canada (2,400 MT), South Korea (2,100 MT), Japan (2,100 MT), and Vietnam (1,500 MT). |
| Comments and Performance Indicators | Exports compare to 20,200 MT last week. USDA projects exports in 2012 to be 11.3% below last year's total. |
