Export sales of corn were light, as expected, but old-crop sales did manage to stay in positive territory. Prices have dropped since the close of the reporting period. Wheat sales were also near the lower end of expectations.
Soybeans sales were very light, with a cumulative tally of just 71,800 MT; the bulk of the business was for old-crop. Soybean exports registered a marketing-year low. Of note, USDA reported a 43,000 MT net sales reduction by China. Sales of soymeal and soyoil were in line with expectations.
While old-crop sales of cotton slipped 22% from the prior four-week average, cotton exports of 303,800 MT improved from last week’s showing and was decent for this point in the season—especially considering elevated price levels.
Pork export sales and shipments improved notably from last week and climbed 8% and 4%, respectively, compared with the prior four-week average.
USDA Weekly Export Sales Report Week Ended June 10, 2021 | |
Corn | |
Actual Sales (in MT) | Combined: 294,100 |
Expectations (in MT) | 2020-21: -100,000-400,000 |
Weekly Sales Details | Net sales of 18,000 MT for 2020-21 were down 91% from the previous week and 95% from the prior 4-week average. Increases primarily for Japan (69,900 MT, including 138,200 MT switched from unknown destinations and decreases of 70,500 MT), Saudi Arabia (57,500 MT), Colombia (44,000 MT, including 40,000 MT switched from unknown destinations), Mexico (35,700 MT, including decreases of 7,300 MT), and Nicaragua (31,400 MT, including 20,900 MT switched from El Salvador, 7,500 MT switched from Guatemala, and decreases of 4,500 MT), were offset by reductions primarily for unknown destinations (152,200 MT) and Costa Rica (96,700 MT). For 2021-22, net sales of 276,100 MT were primarily for Mexico (100,000 MT), Costa Rica (97,400 MT), Guatemala (42,200 MT), Taiwan (21,500 MT), and Jamaica (6,900 MT). |
| Exports of 1,661,600 MT were up 1% from the previous week, but down and 16% from the prior 4-week average. The destinations were primarily to China (615,000 MT), Japan (550,300 MT), Mexico (348,100 MT), Colombia (44,000 MT), and Morocco (34,400 MT). |
Comments and Performance Indicators | Export commitments are 67% ahead of year-ago, which compares to 68% ahead last week. USDA projects exports in 2020-21 at 2.850 billion bu., up 60.3% from the previous marketing year. |
Wheat | |
Actual Sales (in MT) | 2021-22: 287,100 |
Expectations (in MT) | 2021-22: 200,000-500,000 |
Weekly Sales Details | Net sales of 287,100 metric tons (MT) were reported for delivery in marketing year 2021-22. Increases primarily for Japan (95,100 MT, including decreases of 300 MT), unknown destinations (72,000 MT), Mexico (49,600 MT, including decreases of 100 MT), Thailand (34,000 MT), and the Dominican Republic (14,600 MT), were offset by reductions primarily for Guatemala (2,000 MT) and Italy (600 MT). |
Weekly Export Details | Exports of 298,600 MT were primarily to Nigeria (77,500 MT), Taiwan (42,700 MT), the Philippines (34,500 MT), Japan (34,200 MT), and Nicaragua (32,000 MT). |
Comments and Performance Indicators | Export commitments are 8% behind year-ago early in the 2021-22 marketing year, which compares to 5% behind last week. USDA projects exports in 2021-22 at 900 million bu., down 8.6% from the previous marketing year. |
Soybeans | |
Actual Sales (in MT) | Combined: 71,800 |
Expectations (in MT) | 2020-21: -100,000-200,000 |
Weekly Sales Details | Net sales of 65,300 MT for 2020-21 were up noticeably from the previous week and up 51% from the prior 4-week average. Increases primarily for Japan (15,500 MT, including 11,000 MT switched from unknown destinations), Colombia (15,000 MT, including 10,000 MT switched from unknown destinations), Indonesia (12,300 MT, including decreases of 1,500 MT), Saudi Arabia (9,500 MT), and Canada (9,400 MT), were offset by reductions for unknown destinations (10,000 MT). For 2021-22, net sales of 6,500 MT resulting in increases for unknown destinations (29,500 MT) and Taiwan (20,000 MT), were offset by reductions for China (43,000 MT). |
Weekly Export Details | Exports of 148,300 MT--a marketing-year low--were down 47% from the previous week and 48% from the prior 4-week average. The destinations were primarily to Japan (40,500 MT), Mexico (32,700 MT), Venezuela (17,700 MT), Indonesia (16,500 MT), and Colombia (12,500 MT). |
Comments and Performance Indicators | Export commitments are 40% ahead of year-ago early in the marketing year, which compares to 42% ahead the week prior. USDA projects exports in 2020-21 at 2.280 billion bu., up 35.6% from year-ago. |
Soymeal | |
Actual Sales (in MT) | Combined: 185,100 |
Expectations | 2020-21: 100,000-300,000 |
Weekly Sales Details | Net sales of 177,300 MT for 2020-21 were up 30% from the previous week, but down 4% from the prior 4-week average. Increases primarily for Vietnam (50,000 MT), Ireland (40,000 MT), Canada (28,400 MT, including decreases of 1,900 MT), Colombia (16,000 MT), and Mexico (9,500 MT, including decreases of 4,700 MT), were offset by reductions primarily for Honduras (3,000 MT) and Belgium (2,800 MT). For 2021-22, net sales of 7,800 MT were for Jamaica (6,500 MT), Mexico (1,000 MT), and Canada (300 MT). |
| Exports of 199,000 MT were up 6% from the previous week and 5% from the prior 4-week average. The destinations were primarily to the Philippines (68,800 MT), the Dominican Republic (31,300 MT), Canada (26,300 MT), Mexico (21,100 MT), and Cote D’Ivoire (16,500 MT). |
Comments and Performance Indicators | Export commitments are 2% behind year-ago, which compares to 3% ahead of year-ago the week prior. USDA projects exports in 2020-21 will climb 1.2% from the previous marketing year. |
Soyoil | |
Actual Sales (in MT) | 2020-21: 2,200 |
Expectations | 2020-21: 0-25,000 |
Weekly Sales Details | Net sales of 2,200 MT for 2020-21 were down 31% from the previous week, but up noticeably from the prior 4-week average. Increases reported for Mexico (1,900 MT) and Canada (700 MT, including decreases of 300 MT), were offset by reductions for Guatemala (400 MT). |
Weekly Export Details | Exports of 8,000 MT were down 57% from the previous week and 26% from the prior 4-week average. The destinations were primarily to Guatemala (6,700 MT) and Canada (1,200 MT). |
Comments and Performance Indicators | Export commitments for 2020-21 are 42% behind year-ago, which compares to 42% behind year-ago the week prior. USDA projects exports will fall 33.1% this season. |
Cotton | |
Actual Sales (in RB) | Combined: 214,200 |
Weekly Sales Details | Net sales of 111,300 RB for 2020-21 were up 3% from the previous week, but down 22% from the prior 4-week average. Increases primarily for Pakistan (53,000 RB, including decreases of 100 RB), Turkey (17,800 RB), Indonesia (9,700 RB, including 400 RB switched from Japan), Mexico (6,500 RB, including decreases of 6,600 RB), and Vietnam (5,900 RB, including 400 RB switched from Japan), were offset by reductions for the Philippines (100 RB). For 2021-22, net sales of 102,900 RB primarily for Pakistan (84,600 RB), Turkey (7,900 RB), Indonesia (5,300 RB), Vietnam (4,800 RB), and Japan (3,600 RB), were offset by reductions for China (8,800 RB). |
Weekly Export Details | Exports of 303,800 RB were up 18% from the previous week, but down 6% from the prior 4-week average. Exports were primarily to Vietnam (97,800 RB), Turkey (49,100 RB), China (38,100 RB), Pakistan (31,200 RB), and Mexico (20,600 RB). |
Comments and Performance Indicators | Export commitments are 5% behind 2019-20, which compares to 5% behind year-ago last week. USDA forecasts total cotton exports will rise 5.6% from year-ago to 16.40 million bales this marketing year. |
Beef | |
Actual Sales (in MT) | 2021: 12,800 |
Weekly Sales Details | Net sales of 12,800 MT reported for 2021 were down 20% from the previous week and 36% from the prior 4-week average. Increases primarily for Japan (4,400 MT, including decreases of 600 MT), China (3,600 MT, including decreases of 100 MT), South Korea (1,700 MT, including decreases of 500 MT), Taiwan (1,200 MT, including decreases of 200 MT), and Canada (600 MT, including decreases of 200 MT), were offset by reductions for Turks and Caicos Islands (100 MT). |
Weekly Export Details | Exports of 17,800 MT were down 16% from the previous week and 2% from the prior 4-week average. The destinations were primarily to Japan (5,300 MT), South Korea (4,900 MT), China (3,000 MT), Taiwan (1,300 MT), and Mexico (1,000 MT). |
Comments and Performance Indicators | USDA reported sales of 16,100 MT last week. USDA projects 2021 exports will climb 13.1% from year-ago levels. |
Pork | |
Actual Sales (in MT) | 2021: 29,300 |
Weekly Sales Details | Net sales of 29,300 MT reported for 2021 were up 49% from the previous week and 8% from the prior 4-week average. Increases primarily for Mexico (19,100 MT, including decreases of 700 MT), Japan (5,300 MT, including decreases 200 MT), South Korea (2,300 MT, including decreases of 200), Canada (1,100 MT, including decreases of 600 MT), and the Dominican Republic (700 MT), were offset by reductions for China (400 MT). |
Weekly Export Details | Exports of 38,100 MT were up 39% from the previous week and 4% from the prior 4-week average. The destinations were primarily to Mexico (15,600 MT), China (8,800 MT), Japan (4,500 MT), South Korea (2,900 MT), and Canada (1,500 MT). |
Comments and Performance Indicators | USDA reported net sales of 19,700 MT last week. USDA projects exports in 2021 will climb 3.7% from last year’s strong tally. |