USDA Weekly Export Sales Report Week Ended March 7, 2024 | |
Corn | |
Actual Sales (in MT) | 2023-24: 1,283,400 |
Expectations (in MT) | 2023-24: 800,000-1,400,000 |
Weekly Sales Details | Net sales of 1,283,400 MT for 2023/2024 were up 16 percent from the previous week and 19 percent from the prior 4-week average. Increases primarily for Japan (346,100 MT, including 110,000 MT switched from unknown destinations and decreases of 70,700 MT), Mexico (223,000 MT, including decreases of 1,000 MT), Taiwan (191,900 MT), China (133,000 MT, including 65,000 MT switched from unknown destinations), and Saudi Arabia (132,400 MT, including 60,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (6,700 MT) and Nicaragua (400 MT). |
Weekly Export Details | Exports of 1,258,600 MT were up 9 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to Mexico (467,000 MT), Japan (313,100 MT), Colombia (164,400 MT), Taiwan (76,700 MT), and China (68,000 MT). |
Comments and Performance Indicators | Export commitments are 27.3% ahead of a year-ago, compared to 28.0% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year. |
Wheat | |
Actual Sales (in MT) | 2023-24: 83,800 |
Expectations (in MT) | 2023-24: (200,000)-550,000 |
Weekly Sales Details | Net sales of 83,800 metric tons (MT) for 2023/2024--a marketing-year low--were down 69 percent from the previous week and 71 percent from the prior 4-week average. Increases primarily for Mexico (159,100 MT, including decreases of 11,000 MT), the Philippines (49,200 MT), Japan (24,700 MT), Colombia (19,500 MT, including 20,000 MT switched from unknown destinations and decreases of 500 MT), and Guatemala (17,700 MT, including decreases of 700 MT), were offset by reductions for unknown destinations (169,000 MT) and China (120,100 MT). Net sales of 81,300 MT for 2024/2025 were reported for the Philippines (60,000 MT), Honduras (11,300 MT), and Mexico (10,000 MT). |
Weekly Export Details | Exports of 453,500 MT were up 23 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to the Philippines (133,200 MT), China (119,900 MT), Mexico (91,900 MT), Colombia (19,500 MT), and Jamaica (17,500 MT). |
Comments and Performance Indicators | Export commitments are running 4.3% ahead of year-ago, compared to 5.9% ahead last week. USDA projects exports in 2023-24 at 725 million bu., down 6.5% from the previous marketing year. |
Soybeans | |
Actual Sales (in MT) | 2023-24: 376,000 |
Expectations (in MT) | 2023-24: 250,000-800,000 |
Weekly Sales Details | Net sales of 376,000 MT for 2023/2024 were down 39 percent from the previous week, but up 55 percent from the prior 4-week average. Increases primarily for China (256,100 MT, including 187,000 MT switched from unknown destinations and decreases of 4,100 MT), Germany (142,700 MT), Indonesia (73,300 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), the Netherlands (69,000 MT, including 60,000 MT switched from unknown destinations), and Mexico (66,700 MT, including decreases of 34,800 MT), were offset by reductions for unknown destinations (310,800 MT). Net sales of 94,300 MT for 2024/2025 were reported for unknown destinations (60,000 MT) and Mexico (34,300 MT). |
Weekly Export Details | Exports of 947,900 MT were down 33 percent from the previous week and 24 percent from the prior 4-week average. The destinations were primarily to China (400,300 MT), Germany (142,700 MT), Mexico (97,200 MT), Indonesia (79,800 MT), and the Netherlands (69,000 MT). |
Comments and Performance Indicators | Export commitments are running 19.6% behind a year-ago, compared to 19.0% behind last week. USDA projects exports in 2023-24 at 1.720 billion bu., down 13.7% from the previous marketing year. |
Soymeal | |
Actual Sales (in MT) | 2023-24: 209,500 |
Expectations | 2023-24: 150,000-350,000 |
Weekly Sales Details | Net sales of 209,500 MT for 2023/2024 were up 33 percent from the previous week, but down 18 percent from the prior 4-week average. Increases primarily for Italy (77,000 MT, including 72,000 MT switched from unknown destinations), Mexico (37,500 MT), Colombia (35,700 MT, including 20,000 MT switched from unknown destinations), Spain (32,900 MT switched from unknown destinations), and Canada (14,700 MT), were offset by reductions primarily for unknown destinations (35,000 MT), Costa Rica (1,000 MT), Panama (800 MT), Belgium (600 MT), and Jamaica (200 MT). Net sales of 96,300 MT for 2024/2025 were reported for unknown destinations (96,000 MT) and Canada (300 MT). |
Weekly Export Details | Exports of 373,100 MT were down 3 percent from the previous week, but up 15 percent from the prior 4-week average. The destinations were primarily to Italy (77,000 MT), Mexico (55,800 MT), the Philippines (50,300 MT), Spain (32,900 MT), and New Zealand (32,300 MT). |
Comments and Performance Indicators | Export commitments are 18.9% ahead of a year-ago, compared to 19.5% ahead last week. USDA projects exports in 2022-23 will increase 7.7% from the previous marketing year in 2023-24. |
Soyoil | |
Actual Sales (in MT) | 2023-24: 11,200 |
Expectations | 2023-24: (2,000)-20,000 |
Weekly Sales Details | Net sales of 11,200 MT for 2023/2024 were down 62 percent from the previous week, but up 67 percent from the prior 4-week average. Increases were reported for Mexico (7,000 MT) and Canada (4,200 MT). Total net sales of 6,900 MT for 2024/2025 were for Mexico. |
Weekly Export Details | Exports of 1,800 MT--a marketing-year high--were up noticeably from the previous week and up 81 percent from the prior 4-week average. The destinations were to Mexico (1,400 MT) and Canada (400 MT). |
Comments and Performance Indicators | Export commitments are running 14.9% ahead of a year-ago, compared 34.1% behind a year ago last week. USDA projects exports will decrease 7.4% in 2023-24. |
Cotton | |
Actual Upland Sales (in RB) | 2023-24: 85,800 |
Weekly Sales Details | Net sales of Upland totaling 85,800 RB for 2023/2024 were up 65 percent from the previous week, but down 10 percent from the prior 4-week average. Increases primarily for Turkey (30,700 RB, including decreases of 100 RB), China (28,200 RB, including decreases of 7,900 RB), Mexico (13,300 RB, including decreases of 800 RB), Vietnam (9,200 RB, including 2,700 RB switched from China, 2,200 RB switched from South Korea, 200 RB switched from Japan, and decreases of 200 RB), and Indonesia (5,900 RB, including 100 RB switched from Japan), were offset by reductions for Pakistan (13,300 RB), South Korea (1,300 RB), and Bangladesh (700 RB). Net sales of 112,700 RB for 2024/2025 were reported for Guatemala (87,100 RB), Honduras (25,400 RB), and Japan (200 RB). |
Weekly Export Details | Exports of 293,300 RB were down 11 percent from the previous week, but up 4 percent from the prior 4-week average. The destinations were primarily to China (117,100 RB), Pakistan (51,900 RB), Vietnam (41,700 RB), Bangladesh (24,000 RB), and Turkey (21,000 RB). Net sales of Pima totaling 6,800 RB for 2023/2024 were down 38 from the previous week, but up 9 percent from the prior 4-week average. Increases were primarily for India (2,400 RB), China (2,200 RB), Pakistan (600 RB), Thailand (400 RB), and Italy (400 RB). Exports of 6,500 RB were up 3 percent from the previous week and 35 percent from the prior 4-week average. The destinations were primarily to India (2,500 RB), China (1,500 RB), Peru (1,100 RB), Pakistan (500 RB), and Turkey (400 RB). |
Comments and Performance Indicators | Upland cotton export commitments are running 2.3% behind a year ago, compared to in-line with a year-ago during the previous week. USDA forecasts total cotton exports will fall 3.7% from a year ago to 12.30 million bales in 2023-24. |
Beef | |
Actual Sales (in MT) | 2024: 11,200 |
Weekly Sales Details | Net sales of 11,200 MT for 2024--a marketing-year low--were down 20 percent from the previous week and 19 percent from the prior 4-week average. Increases were primarily for Taiwan (2,300 MT), Japan (2,300 MT, including decreases of 400 MT), Mexico (1,700 MT, including decreases of 100 MT), China (1,700 MT, including decreases of 200 MT), and Canada (1,000 MT, including decreases of 100 MT). |
Weekly Export Details | Exports of 16,000 MT were unchanged from the previous week and from the prior 4-week average. The destinations were primarily to South Korea (4,800 MT), Japan (4,100 MT), China (2,500 MT), Mexico (1,800 MT), and Canada (800 MT). |
Comments and Performance Indicators | USDA projects 2024 exports will fall 8.3% from a year ago. |
Pork | |
Actual Sales (in MT) | 2024: 24,900 |
Weekly Sales Details | Net sales of 24,900 MT for 2024 were down 32 percent from the previous week and 24 percent from the prior 4-week average. Increases primarily for Mexico (11,100 MT, including decreases of 1,000 MT), Japan (5,700 MT, including decreases of 200 MT), South Korea (4,100 MT, including decreases of 200 MT), China (3,900 MT, including decreases of 100 MT), and Colombia (1,000 MT, including decreases of 100 MT), were offset by reductions for Vietnam (4,700 MT). |
Weekly Export Details | Exports of 34,500 MT were up 8 percent from the previous week, but down 1 percent from the prior 4-week average. The destinations were primarily to Mexico (11,700 MT), South Korea (5,600 MT), Japan (5,300 MT), China (3,800 MT), and Canada (1,700 MT). |
Comments and Performance Indicators | USDA projects exports in 2024 will rise 4.6% from last year. |