USDA Weekly Export Sales Report Week Ended Feb. 15, 2024 | |
Corn | |
Actual Sales (in MT) | 2023-24: 820,400 |
Expectations (in MT) | 2023-24: 700,000-1,500,000 |
Weekly Sales Details | Net sales of 820,400 MT for 2023/2024 were down 37 percent from the previous week and 30 percent from the prior 4-week average. Increases primarily for Mexico (341,100 MT, including decreases of 16,000 MT), Colombia (182,800 MT, including 105,000 MT switched from unknown destinations, 3,300 MT switched from Panama, and decreases of 26,500 MT), Japan (157,700 MT, including 92,800 MT switched from unknown destinations), Venezuela (55,000 MT), and Guatemala (41,000 MT, including 13,500 MT switched from unknown destinations and decreases of 500 MT), were offset by reductions for Canada (21,800 MT), Nicaragua (5,300 MT), and Panama (3,300 MT). Net sales of 177,700 MT for 2024/2025 reported for Japan (186,100 MT), were offset by reductions for Mexico (8,400 MT). |
Weekly Export Details | Exports of 1,024,500 MT were up 13 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to Mexico (368,500 MT), Japan (241,800 MT), Colombia (183,200 MT), Saudi Arabia (71,100 MT), and Honduras (47,800 MT). |
Comments and Performance Indicators | Export commitments are 29.3% ahead of a year-ago, compared to 30.2% 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: 233,500 |
Expectations (in MT) | 2023-24: 300,000-550,000 |
Weekly Sales Details | Net sales of 233,500 metric tons (MT) for 2023/2024 were down 33 percent from the previous week and 38 percent from the prior 4-week average. Increases primarily for Japan (56,400 MT, including decreases of 300 MT), Mexico (41,900 MT), Nicaragua (30,000 MT), El Salvador (25,000 MT), and Ecuador (23,700 MT switched from unknown destinations), were offset by reductions for unknown destinations (14,800 MT), Panama (1,500 MT), Taiwan (500 MT), and the Philippines (200 MT). Net sales of 46,600 MT for 2024/2025 were reported for unknown destinations (18,000 MT), Mexico (16,600 MT), and the Philippines (12,000 MT). |
Weekly Export Details | Exports of 373,100 MT were down 8 percent from the previous week, but up 14 percent from the prior 4-week average. The destinations were primarily to Japan (94,000 MT), China (58,500 MT), the Philippines (56,800 MT), Mexico (52,100 MT), and South Korea (46,100 MT). |
Comments and Performance Indicators | Export commitments are running 5.8% ahead of year-ago, compared to 6.6% ahead last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year. |
Soybeans | |
Actual Sales (in MT) | 2023-24: 55,900 |
Expectations (in MT) | 2023-24: 300,000-800,000 |
Weekly Sales Details | Net sales of 55,900 MT for 2023/2024--a marketing-year low--were down 84 percent from the previous and from the prior 4-week average. Increases primarily for China (391,700 MT, including 363,000 MT switched from unknown destinations), Indonesia (128,300 MT, including 68,000 MT switched from unknown destinations and decreases of 3,000 MT), South Korea (61,000 MT, including 62,000 MT switched from unknown destinations and decreases of 1,100 MT), Japan (34,900 MT, including 18,000 MT switched from unknown destinations and decreases of 2,500 MT), and the Dominican Republic (8,100 MT, including decreases of 900 MT), were offset by reductions primarily for unknown destinations (591,700 MT). |
Weekly Export Details | Exports of 1,197,100 MT were down 18 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to China (659,900 MT), Mexico (187,800 MT), Indonesia (110,100 MT), Japan (70,600 MT), and South Korea (61,200 MT). |
Comments and Performance Indicators | Export commitments are running 19.7% 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: 202,000 |
Expectations | 2023-24: 150,000-400,000 |
Weekly Sales Details | Net sales of 202,000 MT for 2023/2024 were down 1 percent from the previous week and 35 percent from the prior 4-week average. Increases primarily for Colombia (97,900 MT, including 53,700 MT switched from unknown destinations and decreases of 6,000 MT), Vietnam (51,000 MT), Mexico (28,700 MT), Morocco (21,000 MT, including 18,000 MT switched from Ireland), and the Dominican Republic (17,400 MT), were offset by reductions primarily for unknown destinations (54,000 MT) and Ireland (18,000 MT). Total net sales of 500 MT for 2024/2025 were for Canada. |
Weekly Export Details | Exports of 293,600 MT were down 15 percent from the previous week and 9 percent from the prior 4- week average. The destinations were primarily to the Philippines (96,000 MT), Colombia (60,500 MT), Mexico (39,600 MT), Morocco (36,000 MT), and Honduras (21,300 MT). |
Comments and Performance Indicators | Export commitments are 19.2% ahead of a year-ago, compared to 17.5% ahead last week. USDA projects exports in 2022-23 will increase 4.3% from the previous marketing year in 2023-24. |
Soyoil | |
Actual Sales (in MT) | 2023-24: (5,300) |
Expectations | 2023-24: (5,000)-10,000 |
Weekly Sales Details | Net sales reductions of 5,300 MT for 2023/2024 were unchanged from the previous week, but down noticeable from the prior 4-week average. Increases reported for Mexico (300 MT), were more than offset by reductions for Canada (5,600 MT). |
Weekly Export Details | Exports of 1,300 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. The destinations were to Canada (1,200 MT) and Mexico (100 MT). |
Comments and Performance Indicators | Export commitments are running 42.8% behind a year-ago, compared 33.1% behind a year ago last week. USDA projects exports will decrease 7.4% in 2023-24. |
Cotton | |
Actual Upland Sales (in RB) | 2023-24: 130,500 |
Weekly Sales Details | Net sales of Upland totaling 130,500 RB for 2023/2024 were down 19 percent from the previous week and 48 percent from the prior 4-week average. Increases primarily for Bangladesh (50,600 RB, including decreases of 1,600 RB), Turkey (34,300 RB, including decreases of 15,500 RB), Vietnam (19,700 RB, including 500 RB switched from Macau and 400 MT switched from Japan), Mexico (13,500 RB), and South Korea (7,100 RB), were offset by reductions for Pakistan (9,100 RB), Malaysia (900 RB), Macau (500 RB), and Singapore (500 RB). Net sales of 58,100 RB for 2024/2025 were primarily for Indonesia (22,000 RB), Turkey (15,400 RB), Mexico (11,600 RB), and Guatemala (7,000 RB). |
Weekly Export Details | Exports of 255,500 RB were down 8 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to China (103,900 RB), Vietnam (46,000 RB), Pakistan (31,800 RB), Turkey (12,000 RB), and Mexico (10,900 RB). Net sales of Pima totaling 3,400 RB for 2023/2024 were down 36 percent from the previous week and 59 percent from the prior 4-week average. Increases were primarily for India (1,300 RB), Turkey (900 RB), Egypt (900 RB), Japan (100 RB), and Italy (100 RB). Exports of 3,100 RB were down 44 percent from the previous week and 61 percent from the prior 4-week average. The destinations were primarily to Thailand (900 RB), China (600 RB), India (500 RB), Pakistan (400 RB), and Indonesia (200 RB). |
Comments and Performance Indicators | Upland cotton export commitments are running in line with a year-ago, compared to 3.8% ahead last 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: 12,600 |
Weekly Sales Details | Net sales of 12,600 MT for 2024 were down 25 percent from the previous week and 34 percent from the prior 4-week average. Increases were primarily for Japan (4,300 MT, including decreases of 200 MT), South Korea (2,700 MT, including decreases of 300 MT), Mexico (2,100 MT, including decreases of 100 MT), Canada (1,400 MT), and China (800 MT, including decreases of 100 MT). |
Weekly Export Details | Exports of 15,700 MT were down 5 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to South Korea (4,100 MT), Japan (3,800 MT), China (2,500 MT), Mexico (1,800 MT), and Taiwan (1,000 MT). |
Comments and Performance Indicators | USDA projects 2024 exports will fall 8.3% from a year ago. |
Pork | |
Actual Sales (in MT) | 2024: 28,900 |
Weekly Sales Details | Net sales of 28,900 MT for 2024 were down 14 percent from the previous week and 17 percent from the prior 4-week average. Increases were primarily for Mexico (13,200 MT, including decreases of 200 MT), Japan (4,200 MT, including decreases of 500 MT), Canada (2,300 MT, including decreases of 700 MT), South Korea (2,000 MT, including decreases of 300 MT), and Colombia (1,900 MT). |
Weekly Export Details | Exports of 36,800 MT were down 2 percent from the previous week, but up 7 percent from the prior 4-week average. The destinations were primarily to Mexico (14,500 MT), South Korea (5,000 MT), China (4,100 MT), Japan (3,700 MT), and Colombia (1,800 MT). |
Comments and Performance Indicators | USDA projects exports in 2024 will rise 3.8% from last year. |