Impressive new-crop bean sales, driven by sales to China and ‘unknown’
The reporting period preceded Hurricane Ida. New-crop sales of soymeal were also impressive at nearly 400,000 MT.
On the other hand, USDA reported a net old-crop corn sales reduction of 300,800 MT, which was countered by decent new-crop sales of nearly 1.60 MMT. Wheat sales were in the lower half of expectations. Cotton sales were light, but USDA once again reported some business for the 2022-23 marketing year.
Pork and beef export sales perked up notably as August wound down.
USDA Weekly Export Sales Report Week Ended Aug. 26, 2021 | |
Corn | |
Actual Sales (in MT) | Combined: 858,700 |
Expectations (in MT) | 2020-21: -100,000-100,000 |
Weekly Sales Details | Net sales reductions of 300,800 MT for 2020-21--a marketing-year low--were greater than the previous week, but down noticeably from the prior 4-week average. Increases primarily for Mexico (33,000 MT, including decreases of 7,700 MT), Guatemala (27,100 MT, including 22,500 MT switched from El Salvador, 7,500 MT switched from Costa Rica, and decreases of 2,900 MT), Taiwan (8,800 MT), South Korea (1,900 MT), and Colombia (1,400 MT, including decreases of 26,000 MT), were more than offset by reductions primarily for Canada (209,800 MT) and China (133,200 MT). For 2021-22, net sales of 1,159,500 MT primarily for Mexico (464,500 MT), Colombia (352,000 MT), Canada (292,600 MT), Japan (40,000 MT), and Taiwan (7,400 MT), were offset by reductions for unknown destinations (1,900 MT). |
Weekly Export Details | Exports of 529,300 MT were down 30% from the previous week and 48% from the prior 4-week average. The destinations were primarily to Mexico (258,700 MT), China (138,700 MT), Guatemala (34,600 MT), Colombia (30,400 MT), and Costa Rica (29,600 MT). |
Comments and Performance Indicators | Export commitments are 57% ahead of year-ago compared with 58% ahead last week. USDA projects exports in 2020-21 at 2.775 billion bu., up 56.2% from the previous marketing year. |
Wheat | |
Actual Sales (in MT) | 2021-22: 295,300 |
Expectations (in MT) | 2021-22: 200,000-450,000 |
Weekly Sales Details | Net sales of 295,300 metric tons (MT) for 2021-22 were up noticeably from the previous week and up 15% from the prior 4-week average. Increases primarily for Mexico (103,900 MT, including decreases of 600 MT), Japan (92,400 MT, including decreases of 600 MT), Nigeria (70,000 MT, including 30,000 MT switched from unknown destinations), China (58,000 MT, including 60,000 MT switched from unknown destinations and decreases of 2,000 MT), and the Philippines (45,800 MT), were offset by reductions for unknown destinations (100,000 MT) and Brazil (50,000 MT). |
Exports of 417,100 MT were down 38% from the previous week and 27% from the prior 4-week average. The destinations were primarily to Mexico (146,900 MT), the Philippines (63,800 MT), China (58,500 MT), Thailand (33,500 MT), and Nigeria (32,000 MT). | |
Comments and Performance Indicators | Export commitments are 23% behind year-ago, compared with 22% behind last week. USDA projects exports in 2021-22 at 875 million bu., down 11.8% from the previous marketing year. |
Soybeans | |
Actual Sales (in MT) | Combined: 2,200,700 |
Expectations (in MT) | 2020-21: -100,000-125,000 |
Weekly Sales Details | Net sales of 68,200 MT for 2020-21 were down 9% from the previous week, but up 9% from the prior 4-week average. Increases primarily for the Netherlands (86,200 MT, including 84,000 MT switched from unknown destinations and decreases of 3,800 MT), China (26,200 MT), Taiwan (17,200 MT), Indonesia (7,400 MT, including decreases of 100 MT), and Malaysia (5,800 MT, including decreases of 100 MT), were offset by reductions for unknown destinations (84,000 MT). For 2021-22, net sales of 2,132,500 MT were primarily for China (1,264,000 MT), unknown destinations (654,000 MT), Mexico (88,700 MT), Egypt (50,000 MT), and Taiwan (32,000 MT). |
Weekly Export Details | Exports of 324,000 MT were up 25% from the previous week and 50% from the prior 4-week average. The destinations were primarily to Mexico (111,000 MT), the Netherlands (86,200 MT), China (71,600 MT), Costa Rica (16,800 MT), and Indonesia (9,800 MT). |
Comments and Performance Indicators | Export commitments are 32% ahead of year-ago, compared with 31% ahead of year-ago last week. USDA projects exports in 2020-21 at 2.260 billion bu., up 34.6% from year-ago. |
Soymeal | |
Actual Sales (in MT) | Combined: 414,300 |
Expectations | 2020-21: 25,000-200,000 |
Weekly Sales Details | Net sales of 17,700 MT for 2020-21--a marketing-year low--were down 71% from the previous week and 82% from the prior 4-week average. Increases primarily for Mexico (19,600 MT), Canada (9,300 MT, including decreases of 700 MT), Taiwan (7,400 MT, including decreases of 100 MT), Guatemala (6,700 MT, including 6,100 MT switched from El Salvador), and Vietnam (5,600 MT), were offset by reductions primarily for Romania (45,000 MT). For 2021-22, net sales of 396,600 MT were primarily for Colombia (104,000 MT), the Philippines (90,000 MT), unknown destinations (48,200 MT), Romania (45,000 MT), and Ecuador (30,000 MT). |
| Exports of 188,800 MT were down 21% from the previous week and 15% from the prior 4-week average. The destinations were primarily to Vietnam (50,000 MT), Ecuador (32,500 MT), Canada (21,800 MT), Colombia (19,000 MT), and Mexico (18,300 MT). |
Comments and Performance Indicators | Export commitments are 1% behind year-ago vs. steady with year-ago the week prior. USDA projects exports in 2020-21 will climb 1.9% from the previous marketing year. |
Soyoil | |
Actual Sales (in MT) | Combined: 4,800 |
Expectations | 2020-21: 0-10,000 |
Weekly Sales Details | Net sales of 4,100 MT for 2020-21 were up 39% from the previous week and up noticeably from the prior 4-week average. Increases reported for Venezuela (3,000 MT), Honduras (1,000 MT), and Canada (100 MT). Total net sales for 2021-22 of 700 MT were for Canada. |
Weekly Export Details | Exports of 3,900 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were to Jamaica (3,500 MT), Canada (300 MT), and Mexico (100 MT). |
Comments and Performance Indicators | Export commitments for 2020-21 are 46% behind year-ago compared with 46% behind last week. USDA projects exports will fall 40.1% this season. |
Cotton | |
Actual Sales (in RB) | Combined: 129,000 |
Weekly Sales Details | Net sales of 105,200 RB for 2021-22 were primarily for Pakistan (27,600 RB), Vietnam (17,200 RB, including decreases of 8,800 RB), Turkey (14,400 RB), Ecuador (8,800 RB), and China (8,400 RB). Total net sales for 2022-23 of 23,800 RB were for Turkey. |
Weekly Export Details | Exports of 168,600 RB were primarily to Turkey (33,400 RB), China (33,000 RB), Vietnam (25,000 RB), Pakistan (18,900 RB), and Bangladesh (17,400 RB). |
Comments and Performance Indicators | Export commitments are 20% behind 2020-22 compared with 20% last week at the start of the marketing year. USDA forecasts total cotton exports will fall 8.3% from year-ago to 15.00 million bales in 2021-22. |
Beef | |
Actual Sales (in MT) | 2021: 15,600 |
Weekly Sales Details | Net sales of 15,600 MT reported for 2021 were up 49% from the previous week and 24% from the prior 4-week average. Increases were primarily for South Korea (7,300 MT, including decreases 500 MT), Taiwan (3,100 MT, including decreases of 100 MT), Japan (2,800 MT, including decreases of 500 MT), China (600 MT, including decreases of 800 MT), and Mexico (500 MT, including decreases of 100 MT). |
Weekly Export Details | Exports of 18,100 MT were down 3% from the previous week and 6% from the prior 4-week average. The destinations were primarily to South Korea (5,200 MT), Japan (4,600 MT), China (3,900 MT), Mexico (1,200 MT), and Taiwan (1,200 MT). |
Comments and Performance Indicators | USDA reported sales totaling 10,400 MT last week. USDA projects 2021 exports will climb 1.8% from year-ago levels. |
Pork | |
Actual Sales (in MT) | 2021: 33,500 |
Weekly Sales Details | Net sales of 33,500 MT reported for 2021 were up 39% from the previous week and 38% from the prior 4-week average. Increases primarily for Mexico (21,200 MT, including decreases of 600 MT), Colombia (4,200 MT, including decreases of 300 MT), Japan (3,000 MT, including decreases of 100 MT), China (2,000 MT, including decreases of 400 MT), and Canada (1,000 MT, including decreases of 400 MT), were offset by reductions for Vietnam (100 MT). |
Weekly Export Details | Exports of 28,200 MT were down 6% from the previous week and 2% from the prior 4-week average. The destinations were primarily to Mexico (13,200 MT), China (4,700 MT), Japan (3,900 MT), South Korea (1,500 MT), and Canada (1,200 MT). |
Comments and Performance Indicators | USDA reported net sales of 24,100 MT last week. USDA projects exports in 2021 will dip 1.9% from last year’s strong tally. |