Aggressive buying by China (much of which was known) powered the strong showing. Corn sales were also solid for this point in the season, with Mexico as the top buyer of both old- and new-crop corn. Wheat sales were near the lower end of expectations and down 23% from the prior four-week average. Up exports of the grain were solid at nearly 592,000 MT. Cotton sales were also solid with China as the lead buyer. Sales of pork and beef were lackluster relative to the four-week average.
USDA Weekly Export Sales Report Week Ended Aug. 12, 2021 | |
Corn | |
Actual Sales (in MT) | Combined: 726,500 |
Expectations (in MT) | 2020-21: -100,000-200,000 |
Weekly Sales Details | Net sales of 216,500 MT for 2020-21 were down 43% from the previous week, but up noticeably from the prior four-week average. Increases reported for Mexico (190,100 MT, including decreases of 22,900 MT), Canada (62,300 MT), El Salvador (24,000 MT, including 23,000 MT switched from Guatemala and decreases of 200 MT), Honduras (5,800 MT, including decreases of 4,500 MT), and China (2,900 MT), were offset by reductions for unknown destinations (32,700 MT), Guatemala (20,300 MT), and Japan (15,600 MT). For 2021-22, net sales of 510,000 MT primarily for Mexico (307,500 MT), Colombia (88,800 MT), Japan (50,000 MT), unknown destinations (50,000 MT), and Honduras (5,500 MT), were offset by reductions for Guatemala (3,900 MT). |
| Exports of 829,200 MT were down 22% from the previous week and 31% from the prior four-week average. The destinations were primarily to Mexico (292,400 MT), China (274,900 MT), Japan (149,400 MT), Guatemala (54,600 MT), and El Salvador (26,400 MT). |
Comments and Performance Indicators | Export commitments are 59% ahead of year-ago compared with 59% ahead last week. 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: 306,700 |
Expectations (in MT) | 2021-22: 250,000-500,000 |
Weekly Sales Details | Net sales of 306,700 metric tons (MT) for 2021-22 were up 5% from the previous week, but down 23% from the prior four-week average. Increases primarily for China (197,400 MT, including 195,000 MT switched from unknown destinations), South Korea (76,600 MT), Taiwan (48,600 MT), Vietnam (33,500 MT, including 30,600 MT switched from unknown destinations), and the Philippines (33,400 MT, including decreases of 5,500 MT), were offset by reductions primarily for unknown destinations (217,000 MT). |
Weekly Export Details | Exports of 591,800 MT were down 6% from the previous week, but up 29% from the prior four-week average. The destinations were primarily to Japan (124,800 MT), the Philippians (122,200 MT), Nigeria (79,200 MT), China (69,500 MT), and Mexico (46,900 MT). |
Comments and Performance Indicators | Export commitments are 18% behind year-ago, compared with 17% 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: 2,209,800 |
Expectations (in MT) | 2020-21: -75,000-200,000 |
Weekly Sales Details | Net sales of 67,700 MT for 2020-21 were down 30% from the previous week, but up noticeably from the prior four-week average. Increases primarily for China (92,300 MT, including 68,000 MT switched from unknown destinations), Taiwan (12,300 MT, including decreases of 300 MT), Japan (11,200 MT, including 9,000 MT switched from unknown destinations and decreases of 300 MT), Vietnam (11,200 MT), and Indonesia (7,600 MT, including decreases of 200 MT), were offset by reductions for unknown destinations (76,800 MT). For 2021-22, net sales of 2,142,100 MT were primarily for China (1,030,000 MT), unknown destinations (841,000), Egypt (184,000 MT), Mexico (28,900 MT), and Taiwan (25,000 MT). |
Weekly Export Details | Exports of 258,000 MT were up 99% from the previous week and 37% from the prior four-week average. The destinations were primarily to China (144,200 MT), Japan (59,500 MT), Indonesia (15,600 MT), Colombia (14,800 MT), and Mexico (11,600 MT). |
Comments and Performance Indicators | Export commitments are 31% ahead of year-ago, compared with 31% ahead of year-ago last week. USDA projects exports in 2020-21 at 2.270 billion bu., up 35.2% from year-ago. |
Soymeal | |
Actual Sales (in MT) | Combined: 177,000 |
Expectations | 2020-21: 25,000-200,000 |
Weekly Sales Details | Net sales of 72,400 MT for 2020-21 were down 38% from the previous week and 29% from the prior four-week average. Increases primarily for Japan (37,000 MT, including 3,000 MT switched from unknown destinations), Mexico (12,900 MT, including decreases of 1,100 MT), Canada (10,200 MT, including decreases of 200 MT), El Salvador (9,000 MT, including 9,600 MT switched from Guatemala and decreases of 600 MT), and Honduras (8,000 MT, including 6,000 MT switched from Nicaragua), were offset by reductions for Guatemala (10,300 MT), Nicaragua (6,000 MT), unknown destinations (3,000 MT), and Belgium (2,200 MT). For 2021-22, net sales of 104,600 MT primarily for the Philippines (90,000 MT), Canada (6,500 MT), Mexico (4,600 MT), and Nicaragua (2,200 MT), were offset by reductions for Guatemala (1,900 MT). |
| Exports of 213,700 MT were down 15% from the previous week, but up 3% from the prior four-week average. The destinations were primarily to Mexico (38,600 MT), Japan (38,100 MT), Colombia (31,500 MT), Guatemala (22,200 MT), and Honduras (22,000 MT). |
Comments and Performance Indicators | Export commitments are steady with year-ago vs. steady with year-ago the week prior. USDA projects exports in 2020-21 will climb 3.0% from the previous marketing year. |
Soyoil | |
Actual Sales (in MT) | Combined: 600 |
Expectations | 2020-21: 0-10,000 |
Weekly Sales Details | Net sales of 500 MT for 2020-21 were up 54% from the previous week, but down 67% from the prior four-week average. Increases were reported for Canada (300 MT, including decreases of 100 MT) and Honduras (200 MT). Total net sales for 2021-22 of 100 MT were for Honduras. |
Weekly Export Details | Exports of 400 MT were down 14% from the previous week and 79% from the prior four-week average. The destinations were to 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 37.4% this season. |
Cotton | |
Actual Sales (in RB) | Combined: 301,900 |
Weekly Sales Details | Net sales of 242,400 RB for 2021-22 primarily for China (161,900 RB, including 3,400 RB switched from Singapore, 600 RB switched from Hong Kong, and decreases of 11,100 RB), Turkey (46,100 RB, including decreases of 2,800 RB), Pakistan (16,400 RB, including decreases of 700 RB), Vietnam (12,400 RB, including 4,000 RB switched from China, 1,000 RB from Japan, and decreases of 1,400 RB), and Peru (4,900 RB), were offset by reductions primarily for Singapore (3,400 RB) and Japan (1,400 RB). Total net sales of 59,500 RB for 2022/2023, were for Pakistan. |
Weekly Export Details | Exports of 221,100 RB were primarily to Pakistan (49,600 RB), Vietnam (38,000 RB), Turkey (31,700 RB), China (22,100 RB), and Bangladesh (17,600 RB). |
Comments and Performance Indicators | Export commitments are 22% behind 2021-22 compared with 24% last week at the start of the marketing year. USDA forecasts total cotton exports will slip 7.3% from year-ago to 15.20 million bales in 2021-22. |
Beef | |
Actual Sales (in MT) | 2021: 11,100 |
Weekly Sales Details | Net sales of 11,100 MT reported for 2021 were down 18% from the previous week and 42% from the prior four-week average. Increases primarily for Japan (2,800 MT, including decreases of 400 MT), South Korea (2,800 MT, including decreases of 400 MT), China (1,800 MT, including decreases of 300 MT), Taiwan (900 MT, including decreases of 100 MT), and Mexico (600 MT, including decreases of 100 MT), were offset by reductions for Colombia (100 MT). |
Weekly Export Details | Exports of 19,700 MT were up 6% from the previous week, but down 1% from the prior four-week average. The destinations were primarily to South Korea (5,600 MT), Japan (4,700 MT), China (4,200 MT), Mexico (1,200 MT), and Taiwan (1,100 MT). |
Comments and Performance Indicators | USDA reported sales totaling 13,600 MT last week. USDA projects 2021 exports will climb 16.0% from year-ago levels. |
Pork | |
Actual Sales (in MT) | 2021: 20,000 |
Weekly Sales Details | Net sales of 20,000 MT reported for 2021 were up 37% from the previous week, but down 31% from the prior four-week average. Increases primarily for Mexico (6,900 MT, including decreases of 700 MT), Japan (3,100 MT, including decreases of 300 MT), Colombia (3,000 MT, including decreases of 200 MT), Canada (2,300 MT, including decreases of 700 MT), and South Korea (1,500 MT, including decreases of 100 MT), were offset by reductions for Australia (200 MT). |
Weekly Export Details | Exports of 28,700 MT were up 4% from the previous week, but down 2% from the prior four-week average. The destinations were primarily to Mexico (13,500 MT), China (4,500 MT), Japan (4,300 MT), Canada (1,600 MT), and Colombia (1,400 MT). |
Comments and Performance Indicators | USDA reported net sales of 14,600 MT last week. USDA projects exports in 2021 will climb 3.7% from last year’s strong tally. |