Corn Export Sales Disappoint, Soybeans Top Expectations
The Weekly Export Sales Report for the week ended Dec. 27, 2012, showed a pitiful export sales tally for corn. Meanwhile, wheat export sales met expectations and continue to gain on last year's pace. Soybean export sales topped expectations, despite including some of the recently reported order cancellations. Cotton and beef export sales softened relative to recent weeks.
| USDA Weekly Export Sales Report | |
| Corn | |
| Actual Sales (in metric tons -- MT) | 2012-13: 49,100 MT |
| Trade Expectations | 200,000 to 350,000 MT |
| Weekly Sales Details | Net sales of 49,100 MT for the 2012-13 marketing year were down 53 percent from the previous week and 63 percent from the prior 4-week average. Increases reported for Japan (91,500 MT, including 86,900 MT switched from unknown destinations and decreases of 1,900 MT), Taiwan (12,100 MT), Panama (10,500 MT), Colombia (7,200 MT), and Venezuela (6,000 MT, switched from Panama), were partially offset by decreases for unknown destinations (86,900 MT) and Jamaica (5,900 MT). |
| Weekly Export Details | Exports of 205,300 MT -- a marketing-year low -- were down 28 percent from the previous week and 35 percent from the prior 4-week average. The primary destinations were Japan (128,000 MT), Mexico (52,600 MT), Taiwan (7,000 MT), Venezuela (6,000 MT), and Jamaica (4,700 MT). |
| Comments and Performance Indicators | Sales were well below 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) | Combined: 437,000 MT 2012-13: 434,900 MT 2013-14: 2,100 MT |
| Trade Expectations | 350,000 to 550,000 MT |
| Weekly Sales Details | Net sales of 400,400 MT for the 2012-13 marketing year were down 60 percent from the previous week and 37 percent from the prior 4-week average. Increases were reported for unknown destinations (148,500 MT), Taiwan (75,600 MT), Turkey (60,000 MT), South Korea (28,500 MT), and Mexico (26,100 MT). Net sales of 2,100 MT for delivery in the 2013-14 marketing year were for Mexico. |
| Weekly Export Details | Exports of 158,900 MT were down 63 percent from the previous week and 58 percent from the prior 4-week average. The primary destinations were Mexico (60,400 MT), Thailand (50,000 MT), Colombia (20,300 MT), Malaysia (11,900 MT), and the Dominican Republic (6,300 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments for the 2012-13 marketing year are 3% 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: 496,300 MT 2012-13: 434,900 MT 2013-14: 61,400 MT |
| Trade Expectations | 250,000 to 450,000 MT |
| Weekly Sales Details | Net sales of 434,900 MT for the 2012-13 marketing year resulted as increases for China (360,200 MT), the Netherlands (147,700 MT, including 138,200 MT switched from unknown destinations), Japan (47,600 MT, including 45,000 MT switched from unknown destinations and decreases of 1,600 MT), and Russia (25,000 MT, switched from unknown destinations), were partially offset by decreases for unknown destinations (201,800 MT). Net sales of 61,400 MT for delivery in the 2013-14 marketing year were for China (60,000 MT) and Japan (1,400 MT). |
| Weekly Export Details | Exports of 1,035,600 MT were down 10 percent from the previous week and 21 percent from the prior 4-week average. The primary destinations were China (538,000 MT), the Netherlands (147,700 MT), Japan (55,900 MT), Canada (55,500 MT), and Turkey (47,600 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: 53,800 MT |
| Trade Expectations | 100,000 to 250,000 MT |
| Weekly Sales Details | Net sales of 53,800 MT for the 2012-13 marketing year resulted as increases for Colombia (27,900 MT), Romania (27,000 MT, switched from unknown destinations), Georgia (25,000 MT, switched from unknown destinations), Ireland (18,000 MT), and Venezuela (12,000 MT, including 6,000 MT switched from unknown destinations and 6,000 MT switched from Panama), were partially offset by decreases for unknown destinations (53,900 MT), Mexico (14,000 MT), Panama (6,000 MT), and Canada (3,800 MT). |
| Weekly Export Details | Exports of 212,500 MT were up 34 percent from the previous week, but down 14 percent from the prior 4-week average. The primary destinations were the Philippines (52,500 MT), Romania (27,000 MT), Georgia (25,000 MT), Mexico (22,100 MT), and the Dominican Republic (22,100 MT). |
| Comments and Performance Indicators | Sales were below expectations. Export commitments are running 41% ahead of last year's pace compared to 45% ahead of year-ago last week. USDA projects exports in 2012-13 to be 15.8% behind the previous marketing year. |
| Soyoil | |
| Actual Sales (in metric tons -- MT) | 2012-13: 31,300 MT |
| Trade Expectations | 10,000 to 30,000 MT |
| Weekly Sales Details | Net sales of 31,300 MT for the 2012-13 marketing year resulted as increases for India (30,000 MT, switched from unknown destinations) and the Dominican Republic (2,100 MT), were partially offset by decreases for Canada (800 MT). |
| Weekly Export Details | Exports of 34,600 MT were down 3 percent from the previous week, but up 32 percent from the prior 4-week average. The primary destinations were India (30,000 MT), Venezuela (2,000 MT), and El Salvador (1,300 MT). |
| Comments and Performance Indicators | Sales were just above expectations. Export commitments for the new marketing year are 289% ahead of year-ago, compared to 288% ahead last week. USDA projects exports in 2012-13 to be 23.0% ahead of the previous marketing year. |
| Cotton | |
| Actual Sales (in running bales -- RB) | Combined: 183,800 RB 2012-13: 180,600 RB 2013-14: 3,200 RB |
| Trade Expectations | NA |
| Weekly Sales Details | Net Upland sales of 180,600 running bales for the 2012-13 marketing year were down 36 percent from the previous week and 45 percent from the prior 4-week average. Increases were reported for China (51,500 RB), Turkey (36,000 RB), Vietnam (24,000 RB), Mexico (22,000 RB), Taiwan (15,300 RB), and Indonesia (15,200 RB, including 200 RB switched from Japan). Decreases were reported for South Korea (2,800 RB). Net sales of 3,200 RB for delivery in the 2013-14 marketing year resulted as increases for South Korea (3,900 RB) and Japan (300 RB), were partially offset by decreases for Vietnam (900 RB). |
| Weekly Export Details | Exports of 182,500 RB were up 5 percent from the previous week, but down 1 percent from the prior 4-week average. The primary destinations were China (99,100 RB), Turkey (14,300 RB), Mexico (14,300 RB), Vietnam (13,100 RB), and Taiwan (7,800 RB). |
| Comments and Performance Indicators | Export commitments are 13% behind year-ago compared to 15% behind last week. USDA projects exports in 2012-13 to be 0.7% ahead of the previous marketing year. |
| Beef | |
| Actual Sales (in metric tons -- MT) | Combined: 9,700 MT |
| Weekly Sales Details | Net sales of 8,400 MT were down 24 percent from the previous week and 34 percent from the prior 4-week average. Increases were reported for Mexico (2,000 MT), South Korea (1,800 MT), Canada (1,300 MT), Japan (900 MT), and Vietnam (700 MT). Net sales of 1,300 MT for delivery in the 2013 marketing year were primarily for South Korea (1,000 MT), Hong Kong (300 MT), Mexico (300 MT), and Canada (200 MT). Decreases were reported for Japan (700 MT) and Vietnam (200 MT). |
| Weekly Export Details | Exports of 12,600 MT were primarily to Mexico (3,300 MT), South Korea (2,000 MT), Canada (1,700 MT), Japan (1,500 MT), and Hong Kong (1,400 MT). |
| Comments and Performance Indicators | Exports compare to 23,700 MT last week. USDA projects exports in 2012 to be 11.3% below last year's total. |
