Soybean Sales Exceed Expectations
The Weekly Export Sales Report for the week ended Nov. 29, 2012, showed weekly export sales below expectations for corn and wheat, while soybean sales were impressive. China was the lead buyer for soybeans but was also in the market for corn.
| USDA Weekly Export Sales Report | |
| Corn | |
| Actual Sales (in metric tons -- MT) | Combined: 47,400 MT |
| Trade Expectations | 450,000 to 650,000 MT |
| Weekly Sales Details | Net sales of 51,600 MT for the 2012-13 marketing year resulted as increases for China (109,000 MT, including 120,000 MT switched from unknown destinations and decreases of 11,000 MT), Japan (85,600 MT, including 62,800 MT switched from unknown destinations and decreases of 26,300 MT), Panama (84,000 MT), Guatemala (19,000 MT, including 17,400 MT switched from unknown destinations), Venezuela (10,000 MT), and Jamaica (6,300 MT), were partially offset by decreases for unknown destinations (250,000 MT), Mexico (21,800 MT), and Honduras (2,000 MT). Net sales reductions of 4,200 MT for delivery in the 2013-14 marketing year were for Japan. |
| Weekly Export Details | Exports of 292,800 MT were down 21 percent from the previous week and 16 percent for the prior 4-week average. The primary destinations were China (109,000 MT), Japan (49,600 MT), Mexico (47,200 MT), Venezuela (33,000 MT), Cuba (25,000 MT), and Guatemala (19,000 MT). |
| Comments and Performance Indicators | Sales were well below expectations. Export commitments for the new marketing year are 46% behind year ago compared to 45% 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: 353,100 MT |
| Trade Expectations | 400,000 to 500,000 MT |
| Weekly Sales Details | Net sales of 353,100 MT for the 2012-13 marketing year were up 26 percent from the previous week, but down 2 percent from the prior 4-week average. Increases were reported for unknown destinations (92,300 MT), Japan (89,800 MT), Mexico (39,800 MT), Nigeria (29,000 MT), Israel (18,300 MT), Cameroon (16,100 MT, including 7,000 MT switched from Nigeria), and Venezuela (15,500 MT). |
| Weekly Export Details | Exports of 386,500 MT were up 69 percent from the previous week and 24 percent from the prior 4-week average. The primary destinations were Mexico (81,300 MT), South Korea (60,800 MT), Japan (50,600 MT), Yemen (49,500 MT), Guatemala (49,400 MT), the Philippines (24,800 MT), and Colombia (21,300 MT). |
| Comments and Performance Indicators | Sales were below expectations. Export commitments for the new marketing year are 10% behind year-ago, compared to 11% 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: 1,143,800,400 MT |
| Trade Expectations | 500,000-750,000 MT |
| Weekly Sales Details | Net sales of 1,142,700 MT for the 2012-13 marketing year were up noticeably from the previous week and from the prior 4-week average. Increases reported for China (509,600 MT), Spain (153,300 MT, including 140,000 MT switched from unknown destinations), Germany (98,400 MT), Mexico (75,100 MT), and Thailand (64,900 MT, including 60,000 MT switched from China), were partially offset by decreases for unknown destinations (16,000 MT). Net sales of 1,000 MT for delivery in the 2013-14 marketing year were for Japan. |
| Weekly Export Details | Exports of 1,552,700 MT were up 15 percent from the previous week, but down 9 percent from the prior 4-week average. The primary destinations were China (1,010,500 MT), Spain (163,300 MT), Germany (98,400 MT), Thailand (74,500 MT), and Japan (44,400 MT). NOTE: Accumulated exports were adjusted down for the Netherlands (98,383 MT). |
| Comments and Performance Indicators | Sales were well above expectations. Export commitments for the new marketing year are running 29% ahead of year-ago compared to 29% 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: 464,800 MT 2012-13: 463,600 MT 2013-14: 1,200 MT |
| Trade Expectations | 150,000 to 250,000 MT |
| Weekly Sales Details | Net sales of 463,600 MT for the 2012-13 marketing year were up 27 percent from the previous week and 87 percent from the prior 4-week average. Increases were reported for Colombia (64,200 MT), Egypt (51,000 MT), Ireland (50,600 MT), Italy (48,000 MT), Vietnam (44,100 MT, including 38,900 MT switched from unknown destinations), and Canada (30,500 MT). Decreases were reported for unknown destinations (35,500 MT), Morocco (25,000 MT), and Japan (3,800 MT). Net sales of 1,200 MT for delivery in the 2013-14 marketing year were reported for Mexico. |
| Weekly Export Details | Exports of 294,300 MT were up 20 percent from the previous week and from the prior 4-week average. The primary destinations were the Philippines (47,000 MT), Colombia (44,100 MT), Vietnam (42,600 MT), Venezuela (34,000 MT), Canada (23,900 MT), Japan (20,600 MT), and Mexico (18,200 MT). |
| Comments and Performance Indicators | Sales were well above expectations. Export commitments are running 37% ahead of last year's pace compared to 30% 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: 19,000 MT |
| Trade Expectations | 100,000 to 200,000 MT |
| Weekly Sales Details | Net sales of 19,000 MT for the 2012-13 marketing year resulted as increases for India (18,200 MT, switched from unknown destinations), the Dominican Republic (16,000 MT), Nicaragua (1,100 MT), Mexico (900 MT), and Colombia (700 MT), were partially offset by decreases for unknown destinations (18,200 MT). |
| Weekly Export Details | Exports of 27,200 MT were up noticeably from the previous week and 22 percent from the prior 4-week average. The primary destinations were India (18,200 MT), Colombia (4,000 MT), Mexico (2,600 MT), and Nicaragua (1,100 MT). |
| Comments and Performance Indicators | Sales were within expectations. Export commitments for the new marketing year are 320% ahead of year-ago, compared to 368% 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: 420,000 RB 2012-13: 415,700 RB 2013-14: 4,300 RB |
| Trade Expectations | NA |
| Weekly Sales Details | Net Upland sales of 415,700 running bales for the 2012-13 marketing year were up 38 percent from the previous week and 25 percent from the prior 4-week average. Increases were reported for China (254,600 RB, including 1,100 RB switched from South Korea and decreases of 21,000 RB), Turkey (61,500 RB), Vietnam (16,200 RB), Pakistan (14,600 RB), Bangladesh (14,200 RB), and Morocco (9,500 RB). Net sales of 4,300 RB for delivery in the 2013-14 marketing year were for Mexico (3,200 RB) and Thailand (1,100 RB). |
| Weekly Export Details | Exports of 210,900 RB were up 66 percent from the previous week 76 percent from the prior 4-week average. The primary destinations were China (108,700 RB), Turkey (21,200 RB), Mexico (21,100 RB), and Vietnam (8,300 RB). |
| Comments and Performance Indicators | Export commitments are 22% behind year-ago compared to 27% 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) | 2012: 14,000 MT |
| Weekly Sales Details | Net sales of 14,000 MT were up 19 percent from the previous week, but down 3 percent from the prior 4-week average. Increases were reported for Mexico (4,900 MT), South Korea (2,600 MT), Canada (2,300 MT), Japan (1,900 MT), and Egypt (700 MT). Decreases were reported for Vietnam (300 MT). Net sales of 1,700 MT for delivery in the 2013 marketing year were primarily for Japan (300 MT), Taiwan (300 MT), South Korea (300 MT), Hong Kong (200 MT), and Canada (200 MT). |
| Weekly Export Details | Exports of 16,300 MT were primarily to Mexico (3,600 MT), South Korea (2,900 MT), Canada (2,700 MT), Japan (2,200 MT), and Hong Kong (1,200 MT). |
| Comments and Performance Indicators | Exports compare to 11,800 MT last week. USDA projects exports in 2012 to be 11.3% below last year's total. |
