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USDA Exports: Wheat & Corn Marketing-Year-Lows

11/01/2007 06:26AM

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Wheat: Net sales of 180,200 metric tons--a marketing-year low--were 67 percent below the previous week and 82 percent under the prior 4-week average. Increases reported for Nigeria (84,800 MT), South Korea (48,000 MT), the United Kingdom (37,300 MT, including 21,000 MT switched from unknown destinations), Ecuador (31,300 MT), South Africa (26,600 MT), and Colombia (24,800 MT), were partially offset by decreases for unknown destinations (149,200 MT), Egypt (27,000 MT), and Italy (10,500 MT). Exports of 845,600 MT were 1 percent below the previous week and 13 percent under the prior 4-week average. The primary destinations were Japan (92,600 MT), Algeria (75,700 MT), Indonesia (63,900 MT), Egypt (63,000 MT), Cuba (50,500 MT), Taiwan (49,600 MT), and Yemen (48,200 MT). Note: Accumulated exports for Ecuador were adjusted down 6,300 MT.

Corn: Net sales of 635,300 MT--a marketing-year low--were 59 percent below the previous week and 63 percent under the prior 4-week average. Increases reported for Japan (192,900 MT), Taiwan (99,300 MT), Mexico (63,800 MT), Egypt (60,000 MT), Saudi Arabia (56,900 MT, switched from unknown destinations), and South Korea (55,400 MT, including 55,000 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (83,600 MT) and Costa Rica (10,300 MT). Exports of 1,250,200 MT were 3 percent below the previous week, but 4 percent over the prior 4-week average. The primary destinations were Japan (368,400 MT), Mexico (210,600 MT), South Korea (117,700 MT), Taiwan (111,700 MT), Algeria (97,000 MT), Morocco (57,200 MT), and Saudi Arabia (56,900 MT). Note: Accumulated exports for Japan were adjusted down 25,300 MT.

Barley: Net sales of 10,900 MT were reported for Saudi Arabia (6,600 MT), Taiwan (3,500 MT), and Tunisia (900 MT). Exports of 83,700 MT--a marketing-year high--were mainly for Saudi Arabia (60,600 MT) and Tunisia (20,900 MT).

Sorghum: Net sales of 80,600 MT were mainly for unknown destinations (66,500 MT), Japan (11,600 MT), and Mexico (2,300 MT. Exports of 62,100 MT--a marketing-year low--were 53 percent below the previous week and 67 percent under the prior 4-week average. The primary destinations were Spain (50,300 MT), Japan (9,100 MT), and Mexico (2,700 MT).

Rice: Net sales of 64,100 MT were 27 percent below the previous week and 56 percent under the prior 4-week average. Increases were reported for Mexico (23,900 MT), Saudi Arabia (12,200 MT), Ghana (5,200 MT), Guatemala (5,100 MT), and Haiti (5,000 MT). Exports of 56,300 MT were 42 percent below the previous week and 13 percent under the prior 4-week average. The primary destinations were Mexico (25,200 MT), Honduras (6,200 MT), Ghana (5,200 MT), Haiti (5,000 MT), Jamaica (3,600 MT), Canada (3,000 MT), and Jordan (2,500 MT).

Soybeans: Net sales of 740,600 MT were 60 percent above the previous week and 22 percent over the prior 4-week average. The major buyers were China (280,300 MT), Mexico (107,500 MT), Japan (78,500 MT), Taiwan (66,600 MT), Portugal (66,400 MT, including 65,000 MT switched from unknown destinations), and Germany (62,500 MT, including 60,000 MT switched from unknown destinations). Exports of 804,300 MT were 7 percent below the previous week, but 21 percent above the prior 4-week average. The primary destinations were China (247,200 MT), Indonesia (126,900 MT), Mexico (67,500 MT), Portugal (66,400 MT), Germany (62,500 MT), Taiwan (56,800 MT), and Morocco (54,800 MT).

Soybean Cake and Meal:Net sales of 203,900 MT were 17 percent below the prior week. Increases were reported for Guatemala (58,000 MT), Canada (46,500 MT), Colombia (27,000 MT), Venezuela (25,000 MT), and El Salvador (13,000 MT). Exports of 112,000 MT were 4 percent below the previous week and 10 percent under the prior 4-week average. The primary destinations were Canada (26,900 MT), Mexico (16,800 MT), the Dominican Republic (9,800 MT), Cuba (9,000 MT), Morocco (8,700 MT), and Honduras (8,400 MT).

Soybean Oil: Net sales of 14,800 MT were primarily for Hong Kong (7,000 MT), Mexico (3,100 MT), and Jamaica (3,100 MT). Exports of 5,200 MT were mainly to Mexico (2,000 MT), Nicaragua (1,200 MT), and El Salvador (1,000 MT).

Cotton: Net Upland sales of 198,100 running bales were up 1 percent from the previous week and 31 percent from the prior 4-week average. The major buyers were Turkey (48,400 RB), China (47,500 RB), Mexico (23,200 RB), Thailand (13,100 RB), Vietnam (12,400 RB), and Bangladesh (11,700 RB). Exports of 177,700 RB were 6 percent above the week earlier, but 24 percent under the prior 4-week average. The primary destinations were Turkey (41,800 RB), Mexico (35,100 RB), China (25,300 RB), and Indonesia (18,700 RB). Net American Pima sales of 18,200 RB were primarily for Pakistan (8,800 RB), Indonesia (2,600 RB), Thailand (2,100 RB), and India (1,800 RB). Exports of 6,300 RB were mainly to Pakistan (2,300 RB), Italy (700 RB), and Indonesia (700 RB).

Hides and Skins: Net sales of 577,200 pieces were down 12 percent from the previous week, but up 18 percent from the prior 4-week average. Whole cattle hide sales of 572,900 pieces were primarily for South Korea (288,300 pieces), China (185,500 pieces), Japan (27,200 pieces), and Thailand (20,800 pieces). Exports of 539,700 pieces were unchanged from the previous week, but up 12 percent from the prior 4-week average. Whole cattle hide exports of 529,000 pieces were primarily to China (222,300 pieces), South Korea (110,600 pieces), Taiwan (50,900 pieces), Hong Kong (33,500 pieces), and Mexico (30,800 pieces).

Net sales of 86,100 wet blues were down 87 percent from the previous week and 66 percent from the prior 4-week average. Increases were mainly for China (29,200 unsplit), Mexico (16,400 grain splits and 2,000 unsplit), Indonesia (11,300 unsplit), the Dominican Republic (9,800 grain splits), and Thailand (7,500 unsplit). Exports of 127,000 hides were up 4 percent from the previous week, but down 4 percent from the prior 4-week average. The primary destinations were China (44,600 unsplit), Italy (23,100 unsplit and 3,600 grain splits), Mexico (18,100 grain splits and 3,400 unsplit), and the Dominican Republic (10,800 grain splits). Net sales of splits totaling 949,000 pounds were primarily for Taiwan (400,000 pounds), Hong Kong (317,900 pounds), South Korea (132,400 pounds), and Indonesia (100,000 pounds). Net Sales of 400,000 pounds for delivery in 2008 were for Hong Kong (200,000 pounds) and Indonesia (200,000 pounds). Exports of splits totaling 1,072,000 pounds were up 24 percent from the previous week and 35 percent from the prior 4-week average. The destinations were Hong Kong (289,900 pounds), Taiwan (250,000 pounds), Italy (180,000 pounds), South Korea (177,400 pounds), and China (174,700 pounds).

Beef: Net sales of 9,800 MT were mainly for Mexico (6,700 MT), Canada (1,900 MT), Taiwan (600 MT), Japan (300 MT), and Moldova (100 MT). Exports of 8,200 MT were primarily to Mexico (4,300 MT), Canada (1,700 MT), Japan (700 MT), Taiwan (500 MT), Vietnam (400 MT), and Hong Kong (200 MT).

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