Weekly Corn and Wheat Sales Within Expectations
The Weekly Export Sales Report for the week ended Nov. 24 showed combined corn sales at the low end of expectations, with soybean sales coming below expectations and wheat within.
| USDA Weekly Export Sales Report | |
| Corn | |
| Actual Sales (in metric tons -- MT) | Combined: 352,200 MT |
| Trade Expectations | 350,000 to 450,000 MT |
| Weekly Sales Details | Net sales of 280,600 MT for the 2011-12 marketing year resulted as increases for South Korea (131,500 MT, including 117,000 MT switched from unknown destinations and decreases of 60,000 MT), Mexico (76,500 MT), Japan (71,000 MT, including 37,500 MT switched from unknown destinations), Venezuela (48,500 MT), and Guatemala (45,700 MT), were partially offset by decreases for unknown destinations (204,400 MT). Net sales of 71,600 MT for delivery in 2012-13 were for Japan. Optional origin sales of 150,000 MT were reported for Mexico. |
| Weekly Export Details | Exports of 810,300 MT were down 17 percent from the previous week and unchanged from the prior 4-week average. The primary destinations were Japan (237,000 MT), Mexico (208,600 MT), South Korea (116,700 MT), China (60,200 MT), El Salvador (37,000 MT), and Costa Rica (32,600 MT). |
| Comments and Performance Indicators | Sales were at the low end of expectations. Export commitments are 3% below year ago, compared to 1% below last week. USDA projects exports in 2011-12 to be 12.8% below the previous marketing year. |
| Wheat | |
| Actual Sales (in metric tons -- MT) | 2011-12: 503,000 MT |
| Trade Expectations | 350,000 to 550,000 MT |
| Weekly Sales Details | Net sales of 503,000 MT for the 2011-12 marketing year were down 18 percent from the previous week, but up 30 percent from the prior 4-week average. Increases were primarily for the Philippines (113,200 MT), Thailand (87,100 MT), South Korea (76,700 MT), Nigeria (69,800 MT, including 67,300 MT switched from unknown destinations), Mexico (67,000 MT), and Taiwan (35,300 MT). |
| Weekly Export Details | Exports of 302,000 MT were down 17 percent from the previous week and 26 percent from the prior 4-week average. The primary destinations were Nigeria (74,400 MT), Mexico (73,400 MT), the Philippines (49,200 MT), Colombia (33,000 MT), Italy (22,300 MT), Haiti (19,800 MT), and Venezuela (13,000 MT). |
| Comments and Performance Indicators | Sales were within trade expectations. Export commitments are 22% behind year-ago, compared to 22% behind last week. USDA projects exports in 2011-12 to be 24.4% below the previous marketing year. |
| Soybeans | |
| Actual Sales (in metric tons -- MT) | 2011-12: 489,600 MT |
| Trade Expectations | 550,000-850,000 MT |
| Weekly Sales Details | Net sales of 489,600 MT for the 2011-12 marketing year resulted as increases for China (534,600 MT, including 282,500 MT switched from unknown destinations and decreases of 63,500 MT), Germany (81,000 MT, including 70,000 MT switched from unknown destinations), Indonesia (61,900 MT), Egypt (60,000 MT), Japan (49,100 MT, including 18,000 MT switched from unknown destinations), and Taiwan (35,600 MT), were partially offset by decreases for unknown destinations (370,500 MT) and Canada (6,100 MT). |
| Weekly Export Details | Exports of 1,217,100 MT were primarily reported to China (893,500 MT), Germany (81,000 MT), Thailand (69,400 MT), Japan (56,500 MT), Canada (28,300 MT), and Mexico (24,700 MT). Exports for own account were reported for Canada (2,500 MT). |
| Comments and Performance Indicators | Sales were below expectations. Export commitments are running 35% behind year-ago, which compares to 34% behind last week. USDA projects exports in 2011-12 to be 11.7% below the previous marketing year. |
| Soymeal | |
| Actual Sales (in metric tons -- MT) | 2010-11: 135,500 MT |
| Trade Expectations | 100,000-200,000 MT |
| Weekly Sales Details | Net sales of 135,500 MT for the 2011-12 marketing year were mainly reported for Venezuela (41,000 MT), Morocco (16,500 MT, including 15,000 MT switched from unknown destinations), Canada (16,200 MT), Honduras (14,100 MT, including 7,500 MT switched from unknown destinations), the Philippines (11,500 MT), and Guatemala (11,400 MT including 10,200 MT switched from unknown destinations). Decreases were reported for the Dominican Republic (2,000 MT) and Costa Rica (500 MT). |
| Weekly Export Details | Exports of 195,900 MT were reported primarily to the Philippines (46,700 MT), Canada (30,100 MT), Mexico (26,000 MT), Cuba (16,500 MT), Morocco (16,500 MT), and Guatemala (15,800 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments are running 12% 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: 8,900 MT |
| Trade Expectations | 5,000 to 15,000 MT |
| Weekly Sales Details | Net sales of 8,900 MT for delivery in 2011-12 were reported mainly for Jamaica (3,500 MT), Nicaragua (1,700 MT), Mexico (1,600 MT), and El Salvador (1,400 MT). Decreases were reported for Canada (300 MT). |
| Weekly Export Details | Exports of 8,700 MT were reported primarily to Mexico (7,400 MT) and Canada (800 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments are 84% below year-ago, compared to 84% below last week. USDA projects exports in 2011-12 to be 53.8% below the previous marketing year. |
| Cotton | |
| Actual Sales (in running bales -- RB) | Combined: 104,000 RB 2011-12: 85,000 RB 2012-13: 19,000 RB |
| Trade Expectations | NA |
| Weekly Sales Details | Net Upland sales of 85,000 running bales for the 2011-12 marketing year resulted as increases for China (65,000 RB), Vietnam (14,600 RB), Bangladesh (10,000 RB), and Peru (6,100 RB), were partially offset by decreases for Pakistan (16,700 RB), South Korea (3,300 RB), and Thailand (2,000 RB). Optional origin sales of 700 RB to Pakistan exercised to export the commodity from other than the United States. Net sales of 19,000 RB for delivery in 2012-13 were reported mainly for Peru (15,800 RB). |
| Weekly Export Details | Exports of 152,200 RB were up 5 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were China (91,400 RB), Mexico (13,200 RB), Turkey (12,000 RB), and Peru (10,500 RB). Exports for own account were reported for China (10,800 RB). |
| Comments and Performance Indicators | Export commitments are 23% behind year-ago compared to 22% behind last week. USDA projects exports in 2011-12 to be 21.4% below the previous marketing year. |
| Beef | |
| Actual Sales (in metric tons -- MT) | Combined: 9,100 MT |
| Weekly Sales Details | Net sales of 9,100 MT for delivery in 2011 were primarily for Mexico (2,300 MT), Canada (2,000 MT), South Korea (1,900 MT), Vietnam (900 MT), and the Philippines (500 MT). Net sales of 200 MT for delivery in 2012 were primarily for Vietnam |
| Weekly Export Details | Exports of 12,700 MT were mainly reported to Mexico (2,500 MT), Japan (2,100 MT), South Korea (2,000 MT), Canada (1,800 MT), and Vietnam (1,700 MT). |
| Comments and Performance Indicators | Exports compare to 11,100 MT last week. USDA projects exports in 2012 to be 20.3% above last year's total. |
