![“Asian exporters are paying premium shipping rates, sometimes 10 times what the rate is for going from the [United] States back to Asia, and this shipping rate disparity incentivizes sending back those empty containers,” Borror said.](https://assets.farmjournal.com/dims4/default/30ae430/2147483647/strip/true/crop/840x561+0+20/resize/800x534!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F2021-02%2FExport-ship-840.jpg)
That said, sales of most commodities were in line with expectations and the only net sales reduction was for soyoil. Pork exports hit a new marketing-year low of 25,200 MT.
USDA Weekly Export Sales Report Week Ended July 8, 2021 | |
Corn | |
Actual Sales (in MT) | Combined: 272,000 |
Expectations (in MT) | 2020-21: -100,000-400,000 |
Weekly Sales Details | Net sales of 138,800 MT for 2020-21 were down 20% from the previous week, but up 31% from the prior 4-week average. Increases primarily for Japan (191,500 MT, including 134,300 MT switched from unknown destinations and decreases of 2,800 MT), Mexico (77,700 MT, including decreases of 1,900 MT), El Salvador (23,000 MT, including 22,000 MT switched from Guatemala), Jamaica (18,800 MT), and Venezuela (7,300 MT), were offset by reductions primarily for unknown destinations (104,300 MT). For 2021-22, net sales of 133,200 MT primarily for unknown destinations (76,600 MT), Mexico (32,000 MT), Japan (16,000 MT), Colombia (4,500 MT), and Taiwan (4,000 MT)), were offset by reductions for Nicaragua (2,000 MT). |
| Exports of 1,061,700 MT were down 18% from the previous week and 26% from the prior 4-week average. The destinations were primarily to China (477,600 MT), Mexico (253,700 MT), Japan (191,500 MT), Guatemala (67,600 MT), and Costa Rica (29,900 MT). |
Comments and Performance Indicators | Export commitments are 61% ahead of year-ago. USDA projects exports in 2020-21 at 2.850 billion bu., up 60.4% from the previous marketing year. |
Wheat | |
Actual Sales (in MT) | 2021-22: 424,700 |
Expectations (in MT) | 2021-22: 200,000-500,000 |
Weekly Sales Details | Net sales of 424,700 metric tons (MT) for 2021-22 were up 46% from the previous week and 44% from the prior 4-week average. Increases were primarily for unknown destinations (132,700 MT), the Philippines (80,100 MT), Japan (58,900 MT), Mexico (34,500 MT, including decreases of 600 MT), and Ecuador (31,500 MT). |
Weekly Export Details | Exports of 365,900 MT were down 5% from the previous week, but up 4% from the prior 4-week average. The destinations were primarily to Japan (71,800 MT), the Philippines (64,100 MT), Mexico (56,000 MT), Nigeria (47,400 MT), and the United Arab Emirates (44,000 MT). |
Comments and Performance Indicators | Export commitments are 14% behind year-ago. USDA projects exports in 2021-22 at 875 million bu., down 11.8% from the previous marketing year. |
Soybeans | |
Actual Sales (in MT) | Combined: 312,500 |
Expectations (in MT) | 2020-21: -100,000-350,000 |
Weekly Sales Details | Net sales of 21,700 MT for 2020-21 were down 66% from the previous week and 76% from the prior 4-week average. Increases primarily for Indonesia (61,500 MT, including 68,000 MT switched from unknown destination and decreases of 10,700 MT), France (18,500 MT, including 19,100 MT switched from unknown destinations and decreases of 600 MT), Japan (12,600 MT, including 10,000 MT switched from unknown destinations), the Netherlands (10,800 MT, switched from unknown destinations), and Cuba (8,000 MT), were offset by reductions primarily for unknown destinations (107,900 MT). For 2021-22, net sales of 290,800 MT were for Mexico (248,600 MT), unknown destinations (19,700 MT), Japan (18,000 MT), Malaysia (2,500 MT), and Vietnam (2,000 MT). |
Weekly Export Details | Exports of 197,700 MT were down 11% from the previous week, but up 4% from the prior 4-week average. The destinations were primarily to Indonesia (70,000 MT), Mexico (28,000 MT), Colombia (19,000 MT), France (18,500 MT), and Costa Rica (16,500 MT). |
Comments and Performance Indicators | Export commitments are 34% ahead of year-ago. USDA projects exports in 2020-21 at 2.270 billion bu., up 35.2% from year-ago. |
Soymeal | |
Actual Sales (in MT) | Combined: 197,100 |
Expectations | 2020-21: 125,000-350,000 |
Weekly Sales Details | Net sales of 70,700 MT for 2020-21--a marketing-year low--were down 67% from the previous week and 72% from the prior 4-week average. Increases primarily for unknown destinations (20,000 MT), Israel (10,000 MT), Vietnam (7,700 MT), Mexico (7,000 MT, including decreases of 16,200 MT), and Jamaica (7,000 MT), were offset by reductions primarily for Guatemala (2,800 MT). For 2021-22, net sales of 126,400 MT were reported for Mexico (123,300 MT) and Canada (3,100 MT). |
| Exports of 253,400 MT were up 49% from the previous week and 53% from the prior 4-week average. The destinations were primarily to Vietnam (107,700 MT), Ecuador (31,800 MT), Morocco (26,000 MT), Guatemala (24,300 MT), and Canada (22,300 MT). |
Comments and Performance Indicators | Export commitments are 1% ahead of year-ago. USDA projects exports in 2020-21 will climb 3.0% from the previous marketing year. |
Soyoil | |
Actual Sales (in MT) | 2020-21: -900 |
Expectations | 2020-21: -3,000-15,000 |
Weekly Sales Details | Total net sales reductions for 2020-21 of 900 MT were reported for Canada. |
Weekly Export Details | Exports of 1,100 MT were down 75% from the previous week and 78% from the prior 4-week average. The destinations were to Mexico (600 MT) and Canada (500 MT). |
Comments and Performance Indicators | Export commitments for 2020-21 are 45% behind year-ago. USDA projects exports will fall 37.4% this season. |
Cotton | |
Actual Sales (in RB) | Combined: 150,900 |
Weekly Sales Details | Net sales of 34,500 RB for 2020-21 were down 34% from the previous week and 51% from the prior 4-week average. Increases primarily for Turkey (11,400 RB), Pakistan (7,500 RB, including 1,800 RB switched from Vietnam and decreases of 700 RB), Bangladesh (3,500 RB, switched from Vietnam), Vietnam (3,500 RB), and China (3,500 RB), were offset by reductions for Japan (1,300 RB). For 2021-22, net sales of 116,400 RB were primarily for Turkey (58,600 RB), Pakistan (25,400 RB), Vietnam (13,200 RB), Guatemala (7,000 RB), and China (4,900 RB). |
Weekly Export Details | Exports of 185,900 RB were down 37% from the previous week and 31% from the prior 4-week average. Exports were primarily to Vietnam (38,200 RB), Pakistan (32,500 RB), Turkey (22,200 RB), Mexico (22,100 RB), and China (22,100 RB). |
Comments and Performance Indicators | Export commitments are 5% behind 2019-20. USDA forecasts total cotton exports will rise 5.7% from year-ago to 16.40 million bales this marketing year. |
Beef | |
Actual Sales (in MT) | 2021: 9,300 |
Weekly Sales Details | Net sales of 9,300 MT reported for 2021 were down 61% from the previous week and 44% from the prior 4-week average. Increases primarily for Japan (3,000 MT, including decreases of 700 MT), Mexico (1,800 MT), China (1,600 MT, including decreases of 100 MT), Taiwan (700 MT, including decreases of 200 MT), and South Korea (600 MT, including decreases of 700 MT), were offset by reductions for Indonesia (100 MT). |
Weekly Export Details | Exports of 15,500 MT were down 13% from the previous week and 15% from the prior 4-week average. The destinations were primarily to Japan (4,100 MT), South Korea (3,800 MT), China (3,300 MT), Taiwan (1,100 MT), and Mexico (1,000 MT). |
Comments and Performance Indicators | USDA reported sales totaling 23,700 MT last week. USDA projects 2021 exports will climb 16.0% from year-ago levels. |
Pork | |
Actual Sales (in MT) | 2021: 10,600 |
Weekly Sales Details | Net sales of 10,600 MT reported for 2021 were down 76% from the previous week and 68% from the prior 4-week average. Increases primarily for Mexico (5,300 MT, including decreases of 1,100 MT), Japan (3,100 MT, including decreases of 200 MT), Honduras (900 MT), Colombia (800 MT, including decreases of 100 MT), and Chile (500 MT), were offset by reductions primarily for China (1,300 MT). |
Weekly Export Details | Exports of 25,200 MT--a marketing-year low--were down 17% from the previous week and 25% from the prior 4-week average. The destinations were primarily to Mexico (11,400 MT), China (4,900 MT), Japan (3,500 MT), Canada (1,300 MT), and South Korea (1,200 MT). |
Comments and Performance Indicators | USDA reported net sales of 43,800 MT last week. USDA projects exports in 2021 will climb 3.7% from last year’s strong tally. |