Corn sales for both marketing years were near the midpoint of expectations, with exports holding strong at nearly 1.7 MMT. China was the destination for nearly 1.1 MMT of that grain.
Old-crop soybean sales were near the upper end of expectations, but new-crop sales fell short of expectations. Soymeal sales were impressive, with strong old-crop sales helping to push the net tally above 400,000 MT. Soyoil sales were light, as expected.
Wheat sales were within the wide range of expectations and exports of the grain were solid.
Cotton export sales and shipments slowed from recent solid tallies. The same can be said for pork shipments. Beef export sales for 2021 climbed 31% from the week prior, with South Korea as the lead buyer, followed by Japan and China.
USDA Weekly Export Sales Report Week Ended June 17, 2021 | |
Corn | |
Actual Sales (in MT) | Combined: 527,100 |
Expectations (in MT) | 2020-21: 0-400,000 |
Weekly Sales Details | Net sales of 216,300 MT for 2020-21 were up noticeably from the previous week, but down 33% from the prior four-week average. Increases primarily for China (180,100 MT, including 132,000 MT switched from unknown destinations, 70,300 MT switched from Taiwan, and decreases of 30,100 MT), Japan (149,100 MT, including 99,200 MT switched from unknown destinations and decreases of 2,100 MT), Mexico (102,500 MT, including decrease of 20,600 MT), El Salvador (34,200 MT, including 18,400 MT switched from Guatemala and 8,300 MT switched from Nicaragua), and Honduras (22,400 MT, including decreases of 22,200 MT), were offset by reductions primarily for unknown destinations (205,800 MT) and Taiwan (70,100 MT). For 2021-22, net sales of 310,800 MT primarily for unknown destinations (242,800 MT) and Japan (50,000 MT), were offset by reductions for Mexico (30,000 MT). |
| Exports of 1,689,700 MT were up 2% from the previous week, but down 7% from the prior four-week average. The destinations were primarily to China (1,068,100 MT), Mexico (332,500 MT), Japan (139,800 MT), Guatemala (45,300 MT), and El Salvador (29,200 MT). |
Comments and Performance Indicators | Export commitments are 66% ahead of year-ago, which compares to 67% 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: 374,100 |
Expectations (in MT) | 2021-22: 200,000-800,000 |
Weekly Sales Details | Net sales of 374,100 metric tons (MT) were reported for delivery in marketing year 2021-22. Increases primarily for unknown destinations (110,600 MT), Mexico (94,500 MT, including decreases of 100 MT), Nigeria (76,600 MT), Japan (73,000 MT, including decreases of 500 MT), and the Dominican Republic (15,100 MT, including 14,400 MT switched from unknown destinations), were offset by reductions primarily for the Philippines (7,400 MT) and Guatemala (3,300 MT). |
Weekly Export Details | Exports of 590,800 MT were primarily to the Philippines (154,600 MT), Mexico (112,700 MT), Nigeria (81,000 MT), Japan (67,200 MT), and Thailand (58,500 MT). |
Comments and Performance Indicators | Export commitments are 9% behind year-ago early in the 2021-22 marketing year, which compares to 8% 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: 189,000 |
Expectations (in MT) | 2020-21: -100,000-175,000 |
Weekly Sales Details | Net sales of 141,700 MT for 2020-21 were up noticeably from the previous week and from the prior four-week average. Increases primarily for Japan (83,700 MT, including 48,000 MT switched from unknown destinations), Indonesia (66,200 MT, including 55,000 MT switched from unknown destinations and decreases of 1,500 MT), China (66,000 MT), Malaysia (9,300 MT, including decreases of 100 MT), and Vietnam (8,900 MT), were offset by reductions for unknown destinations (103,000 MT). For 2021-22, net sales of 47,300 MT primarily for Mexico (54,400 MT), unknown destinations (52,100 MT), Malaysia (6,000 MT), and Canada (500), were offset by reductions for China (66,000 MT). |
Weekly Export Details | Exports of 243,200 MT were up 64% from the previous week and 3% from the prior four-week average. The destinations were primarily to Indonesia (88,300 MT), Mexico (65,200 MT), Japan (53,300 MT), Canada (13,900 MT), and Vietnam (8,200 MT). |
Comments and Performance Indicators | Export commitments are 39% ahead of year-ago early in the marketing year, which compares to 40% 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: 409,600 |
Expectations | 2020-21: 125,000-300,000 |
Weekly Sales Details | Net sales of 387,600 MT for 2020-21 were up noticeably from the previous week and from the prior four-week average. Increases primarily for the Philippines (146,500 MT), Ecuador (109,800 MT, including decreases of 16,800 MT), Italy (30,000 MT), Honduras (20,300 MT), and El Salvador (19,500 MT, including 5,800 MT switched from Guatemala and 2,700 MT switched from Nicaragua), were offset by reductions primarily for Guatemala (4,200 MT) and Belgium (1,200 MT). For 2021-22, net sales of 22,000 MT were for unknown destinations (19,000 MT) and the Philippines (3,000 MT). |
| Exports of 212,200 MT were up 7% from the previous week, but down 1% from the prior four-week average. The destinations were primarily to the Philippines (53,400 MT), Ecuador (32,300 MT), Canada (25,600 MT), Venezuela (16,500 MT), and Guatemala (14,500 MT). |
Comments and Performance Indicators | Export commitments are 1% ahead of year-ago, which compares to 2% behind 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: 2,400 |
Expectations | 2020-21: -4,000-25,000 |
Weekly Sales Details | Net sales of 2,400 MT for 2020-21 were up 8% from the previous week and 17% from the prior four-week average. Increases were reported for Mexico (1,300 MT), Canada (1,000 MT), and India (100 MT). |
Weekly Export Details | Exports of 6,800 MT were down 15% from the previous week and 26% from the prior four-week average. The destinations were primarily to Jamaica (4,000 MT) and Canada (1,500 MT). |
Comments and Performance Indicators | Export commitments for 2020-21 are 43% 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: 189,600 |
Weekly Sales Details | Net sales of 74,700 RB for 2020-21 were down 33% from the previous week and 48% from the prior four-week average. Increases primarily for Pakistan (36,500 RB), China (14,000 RB, including decreases of 14,100 RB), Peru (10,200 RB), Vietnam (7,100 RB, including 1,400 RB switched from Japan), and Bangladesh (4,600 RB), were offset by reductions for Singapore (4,600 RB) and Japan (1,100 RB). For 2021-22, net sales of 148,900 RB primarily for Pakistan (93,900 RB), Vietnam (26,300 RB), Peru (17,100 RB), Mexico (9,500 RB), and Guatemala (5,300 RB), were offset by reductions for China (7,900 RB). |
Weekly Export Details | Exports of 206,000 RB were down 32% from the previous week and 34% from the prior four-week average. Exports were primarily to Vietnam (39,600 RB), China (38,800 RB), Pakistan (34,900 RB), Turkey (30,800 RB), and Bangladesh (16,600 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) | Combined: 17,300 |
Weekly Sales Details | Net sales of 16,900 MT reported for 2021 were up 31% from the previous week, but down 3% from the prior four-week average. Increases primarily for South Korea (6,700 MT, including decreases of 400 MT), Japan (4,000 MT, including decreases of 500 MT), China (1,600 MT, including decreases of 100 MT), Taiwan (1,400 MT, including decreases of 200 MT), and Hong Kong (900 MT, including decreases 100 MT), were offset by reductions for the Philippines (100 MT). For 2022, total net sales of 400 MT were for Japan. |
Weekly Export Details | Exports of 18,200 MT were up 2% from the previous week and 3% from the prior four-week average. The destinations were primarily to Japan (4,700 MT), South Korea (4,700 MT), China (4,100 MT), Mexico (1,100 MT), and Taiwan (1,100 MT). |
Comments and Performance Indicators | USDA reported sales of 12,800 MT last week. USDA projects 2021 exports will climb 13.1% from year-ago levels. |
Pork | |
Actual Sales (in MT) | 2021: 28,600 |
Weekly Sales Details | Net sales of 28,600 MT reported for 2021 were down 2% from the previous week and 4% from the prior four-week average. Increases were primarily for Mexico (11,500 MT, including decreases of 900 MT), Canada (5,200 MT, including decreases of 400 MT), Japan (3,200 MT, including decreases of 500 MT), China (2,000 MT, including decreases of 800 MT), and South Korea (1,800 MT, including decreases of 500 MT). |
Weekly Export Details | Exports of 33,600 MT were down 12% from the previous week and 10% from the prior four-week average. The destinations were primarily to Mexico (15,700 MT), China (7,400 MT), Japan (3,700 MT), South Korea (1,700 MT), and Canada (1,500 MT). |
Comments and Performance Indicators | USDA reported net sales of 29,300 MT last week. USDA projects exports in 2021 will climb 3.7% from last year’s strong tally. |