Weekly Corn & Wheat Export Sales Above Expectations
The Weekly Export Sales Report for the week ended Feb. 14, 2013, showed corn and wheat sales above expectations, while soybean sales were a big disappointment. Cotton and beef sales were also strong.
| USDA Weekly Export Sales Report | |
| Corn | |
| Actual Sales (in metric tons -- MT) | Combined: 381,900 MT |
| Trade Expectations | 150,000 to 350,000 MT |
| Weekly Sales Details | Net sales of 361,800 MT for the 2012-13 marketing year were up 61 percent from the previous week and up noticeably from the prior 4-week average. Increases were reported for unknown destinations (104,800 MT), Mexico (67,800 MT), Japan (55,200 MT), China (54,500 MT, including 60,000 MT switched from unknown destinations and decreases of 5,500 MT), and Guatemala (30,200 MT). Net sales of 20,100 MT for the 2013-14 marketing year were for China (20,300 MT). Decreases were reported for Japan (200 MT). |
| Weekly Export Details | Exports of 256,800 MT were down 35 percent from the previous week and from the prior 4-week average. The primary destinations were Mexico (99,500 MT), Japan (58,800 MT), China (54,500 MT), Cuba (27,400 MT), and Taiwan (11,100 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments for the new marketing year are 53% behind year ago compared to 53% behind last week. USDA projects exports in 2012-13 to be 41.7% below the previous marketing year. |
| Wheat | |
| Actual Sales (in metric tons -- MT) | Combined: 755,900 MT 2012-13: 699,300 MT 2013-14: 56,600 MT |
| Trade Expectations | 400,000 to 600,000 MT |
| Weekly Sales Details | Net sales of 699,300 MT for the 2012-13 marketing year were up 7 percent from the previous week and 55 percent from the prior 4-week average. Increases were reported for Japan (117,200 MT), China (86,000 MT), Turkey (81,600 MT, including 60,000 MT switched from unknown destinations and decreases of 3,400 MT), the Philippines (54,500 MT), Thailand (44,000 MT), and Nigeria (44,000 MT). Decreases were reported for Peru (4,400 MT). Net sales of 56,600 MT for the 2013-14 marketing year were reported for China (55,000 MT) and Colombia (1,600 MT). |
| Weekly Export Details | Exports of 516,200 MT were down 10 percent from the previous week and 7 percent from the prior 4-week average. The primary destinations were Egypt (120,700 MT), Indonesia (66,100 MT), Japan (56,700 MT), Turkey (56,600 MT), and Mexico (45,900 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments for the 2012-13 marketing year are 6% behind year-ago, compared to 6% 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: -57,600 MT 2012-13: -119,600 MT 2013-14: 62,000 MT |
| Trade Expectations | 300,000 to 600,000 MT |
| Weekly Sales Details | Net sales reductions of 119,500 MT for 2012-13--a marketing-year low-- resulted as increases for Germany (152,300 MT, including 140,000 MT switched from unknown destinations), China (114,300 MT, including 108,000 MT switched from unknown destinations and decreases of 75,800 MT), Japan (64,200 MT, including 54,000 MT switched from unknown destinations), the Netherlands (30,000 MT), Mexico (25,200 MT), and Indonesia (6,800 MT), were more than offset by decreases for unknown destinations (521,700 MT). Net sales of 62,000 MT for delivery in the 2013-14 marketing year were for China. |
| Weekly Export Details | Exports of 956,100 MT were down 4 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were China (535,600 MT), Germany (152,300 MT), Mexico (74,900 MT), Japan (62,500 MT), and Bangladesh (54,500 MT). |
| Comments and Performance Indicators | Sales were well below expectations. Export commitments for the new marketing year are running 20% ahead of year-ago compared to 25% 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) | Combined: 261,100 MT 2012-13: 236,100 MT 2013-14: 25,000 MT |
| Trade Expectations | 100,000 to 200,000 MT |
| Weekly Sales Details | Net sales of 236,100 MT for the 2012-13 marketing year were up 78 percent from the previous week and 37 percent from the prior 4-week average. Increases reported for Italy (41,700 MT, including 40,000 MT switched from unknown destinations), Morocco (35,500 MT), Canada (24,200 MT), Cuba (20,000 MT), the Dominican Republic (17,400 MT), and the Philippines (14,600 MT), were partially offset by decreases for unknown destinations (4,700 MT) and Jamaica (1,000 MT). Net sales of 25,000 MT for delivery in the 2013-14 marketing year were reported for Poland. |
| Weekly Export Details | Exports of 252,400 MT were down 35 percent from the previous week and 25 percent from the prior 4-week average. The primary destinations were the Philippines (54,100 MT), Italy (41,700 MT), Turkey (32,200 MT), Colombia (28,400 MT), Venezuela (25,000 MT), and the Dominican Republic (18,000 MT). |
| Comments and Performance Indicators | Sales were above expectations. Export commitments are running 42% ahead of last year's pace compared to 43% ahead of year-ago last week. USDA projects exports in 2012-13 to be 9.7% behind the previous marketing year. |
| Soyoil | |
| Actual Sales (in metric tons -- MT) | 2012-13: 28,900 MT |
| Trade Expectations | 20,000 to 30,000 MT |
| Weekly Sales Details | Net sales of 28,900 MT for the 2012-13 marketing year were up 74 percent from the previous week and 31 percent from the prior 4-week average. Increases reported for China (28,500 MT), India (25,000 MT, switched from unknown destinations), Guatemala (1,000 MT), and Mexico (500 MT), were partially offset by decreases for unknown destinations (25,000 MT) and Canada (900 MT). |
| Weekly Export Details | Exports of 42,000 MT were up 27 percent from the previous week and 24 percent from the prior 4-week average. The primary destinations were China (36,500 MT), Hong Kong (3,500 MT), Mexico (1,400 MT), and Canada (500 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments for the new marketing year are 200% ahead of year-ago, compared to 242% 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: 209,800 RB 2012-13: 171,600 RB 2013-14: 38,200 RB |
| Trade Expectations | NA |
| Weekly Sales Details | Net Upland sales of 171,600 running bales for the 2012-13 marketing year were down 8 percent from the previous week, but up 10 percent from the prior 4-week average. Increases were reported for Turkey (79,900 RB), South Korea (23,600 RB, including 900 RB switched from China), Vietnam (10,900 RB), Bangladesh (10,700 RB), and Thailand (8,100 RB, including 400 RB switched from Japan). Net sales of 38,200 RB for delivery in the 2013-14 marketing year were primarily for Morocco (24,300 RB) and Mexico (6,300 RB). |
| Weekly Export Details | Exports of 389,900 RB were up 9 percent from the previous week and 12 percent from the prior 4-week average. The primary destinations were China (203,900 RB), Turkey (54,500 RB), Vietnam (42,400 RB), Mexico (17,500 RB), Indonesia (12,900 RB), and Pakistan (10,800 RB). |
| Comments and Performance Indicators | Export commitments are 4% behind year-ago compared to 4% behind last week. USDA projects exports in 2012-13 to be 6.7% ahead of the previous marketing year. |
| Beef | |
| Actual Sales (in metric tons -- MT) | 2013: 22,200 MT |
| Weekly Sales Details | Net sales of 22,200 MT were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Japan (10,900 MT), Vietnam (2,600 MT), Mexico (2,300 MT), Canada (2,100 MT), and South Korea (1,300 MT). |
| Weekly Export Details | Exports of 15,900 MT were primarily to Mexico (3,300 MT), South Korea (2,400 MT), Canada (2,300 MT), Vietnam (2,000 MT), and Japan (1,700 MT). |
| Comments and Performance Indicators | Exports compare to 7,300 MT last week. USDA projects exports in 2013 to be 1.0% below last year's total. |
