USDA Weekly Export Sales Report Week Ended March 21, 2024 | |
Corn | |
Actual Sales (in MT) | 2023-24: 1,206,500 |
Expectations (in MT) | 2023-24: 800,000-1,300,000 |
Weekly Sales Details | Net sales of 1,206,500 MT for 2023/2024 were up 2 percent from the previous week and 4 percent from the prior 4-week average. Increases primarily for Mexico (492,000 MT, including 100,000 MT switched from unknown destinations and decreases of 700 MT), Canada (190,200 MT, including decreases of 700 MT and 181,900 MT - late), Colombia (146,200 MT, including 60,000 MT switched from unknown destinations and decreases of 18,000 MT), unknown destinations (102,000 MT), and Japan (90,500 MT), were offset by reductions for Morocco (4,000 MT) and Guatemala (2,300 MT). Net sales of 126,400 MT for 2024/2025 were reported for Mexico (90,000 MT), unknown destinations (25,400 MT), Japan (10,000 MT), and Honduras (1,000 MT). |
Weekly Export Details | Exports of 1,234,100 MT were down 19 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to Mexico (426,800 MT), Japan (237,500 MT), South Korea (209,400 MT), Colombia (167,800 MT), and Guatemala (44,000 MT). |
Comments and Performance Indicators | Export commitments are 19.3% ahead of a year-ago, compared to 19.4% 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: 339,600 |
Expectations (in MT) | 2023-24: (100,000)-300,000 |
Weekly Sales Details | Net sales of 339,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Increases primarily for Taiwan (99,200 MT), South Korea (70,800 MT, including decreases of 500 MT), Japan (70,200 MT, including decreases of 1,700 MT), the Dominican Republic (47,900 MT, including 33,000 MT switched from unknown destinations and decreases of 3,200 MT), and Mexico (43,100 MT, including decreases of 12,700 MT), were offset by reductions primarily for unknown destinations (39,000 MT), El Salvador (3,500 MT), Guatemala (2,500 MT), China (1,000 MT), and Barbados (300 MT). Net sales of 212,800 MT for 2024/2025 were primarily for South Korea (130,000 MT), Mexico (34,700 MT), the Philippines (29,000 MT), Honduras (16,000 MT), and Peru (2,500 MT). |
Weekly Export Details | Exports of 408,900 MT were up 3 percent from the previous week, but down 7 percent from the prior 4-week average. The destinations were primarily to China (117,000 MT), Mexico (67,400 MT), Bangladesh (57,400 MT), the Dominican Republic (57,400 MT), and South Korea (39,800 MT). |
Comments and Performance Indicators | Export commitments are running % 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: 263,900 |
Expectations (in MT) | 2023-24: 300,000-700,000 |
Weekly Sales Details | Net sales of 263,900 MT for 2023/2024 were down 47 percent from the previous week and 26 percent from the prior 4-week average. Increases primarily for China (347,300 MT, including 321,000 MT switched from unknown destinations and decreases of 3,400 MT), Germany (69,000 MT), Mexico (36,400 MT, including decreases of 4,900 MT), Colombia (14,000 MT), and Indonesia (12,100 MT), were offset by reductions for unknown destinations (240,200 MT). Total net sales of 120,000 MT for 2024/2025 were for unknown destinations. |
Weekly Export Details | Exports of 785,600 MT were up 2 percent from the previous week, but down 22 percent from the prior 4-week average. The destinations were primarily to China (464,400 MT), Mexico (109,900 MT), Japan (78,200 MT), Germany (69,000 MT), and Indonesia (24,500 MT). |
Comments and Performance Indicators | Export commitments are running 18.9% behind a year-ago, compared to 18.7% 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: 127,300 |
Expectations | 2023-24: 150,000-350,000 |
Weekly Sales Details | Net sales of 127,300 MT for 2023/2024 were down 48 percent from the previous week and 52 percent from the prior 4-week average. Increases primarily for Turkey (33,000 MT, including 30,000 MT switched from unknown destinations), Colombia (28,900 MT), Canada (14,100 MT), the Dominican Republic (12,700 MT, including decreases of 200 MT), and Honduras (9,000 MT), were offset by reductions primarily for Morocco (5,900 MT), Nicaragua (2,800 MT), Belgium (1,300 MT), unknown destinations (1,000 MT), and Guatemala (500 MT). Net sales of 1,200 MT for 2024/2025 were reported for Japan (700 MT) and Sri Lanka (500 MT). |
Weekly Export Details | Exports of 280,400 MT were down 15 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to the Philippines (98,500 MT), Morocco (36,100 MT), Turkey (33,000 MT), Mexico (23,300 MT), and Guatemala (19,300 MT). |
Comments and Performance Indicators | Export commitments are 16.3% ahead of a year-ago, compared to 20.1% 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: 6,000 |
Expectations | 2023-24: (5,000)-10,000 |
Weekly Sales Details | Net sales of 6,000 MT for 2023/2024 were up noticeably from the previous week, but down 48 percent from the prior 4-week average. Increases reported for Colombia (2,500 MT), unknown destinations (2,000 MT), the Dominican Republic (1,500 MT), and Mexico (1,000 MT), were offset by reductions for Canada (1,100 MT). |
Weekly Export Details | Exports of 7,700 MT were down 38 percent from the previous week, but up 88 percent from the prior 4-week average. The destinations were primarily to Colombia (3,500 MT), Mexico (2,300 MT), and the Dominican Republic (1,500 MT). |
Comments and Performance Indicators | Export commitments are running 5.8% ahead of a year-ago, compared to in-line with last week. USDA projects exports will decrease 7.4% in 2023-24. |
Cotton | |
Actual Upland Sales (in RB) | 2023-24: 98,200 |
Weekly Sales Details | Net sales of Upland totaling 98,200 RB for 2023/2024 were up 8 percent from the previous week and 46 percent from the prior 4-week average. Increases primarily for Turkey (20,500 RB), China (13,400 RB, including decreases of 2,000 RB), Indonesia (12,100 RB, including 300 RB switched from Vietnam), Bangladesh (10,900 RB, including decreases of 6,000 RB), and Vietnam (10,700 RB, including 900 RB switched from Japan, 700 RB switched from South Korea, and 400 RB switched from China), were offset by reductions for Portugal (2,700 RB), South Korea (700 RB), and Pakistan (600 RB). Net sales of 72,200 RB for 2024/2025 were primarily for Bangladesh (18,500 RB), Turkey (17,600 RB), Honduras (11,400 RB), Guatemala (8,300 RB), and Vietnam (6,900 RB). |
Weekly Export Details | Exports of 360,700 RB were down 9 percent from the previous week, but up 12 percent from the prior 4-week average. The destinations were primarily to China (146,300 RB), Pakistan (59,400 RB), Vietnam (59,300 RB), Turkey (14,700 RB), and Bangladesh (13,900 RB). Net sales of Pima totaling 13,500 RB for 2023/2024 were up noticeably from the previous week and from the prior 4-week average. Increases were primarily for India (6,600 RB), China (4,400 RB), Pakistan (1,400 RB), Brazil (400 RB), and Colombia (300 RB). Exports of 4,500 RB were up noticeably from the previous week, but down 2 percent from the prior 4-week average. The destinations were primarily to China (1,400 RB), India (1,100 RB), Pakistan (900 RB), and Thailand (900 RB). |
Comments and Performance Indicators | Upland cotton export commitments are running 5.7% behind a year ago, compared to 4.2% behind 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: 12,700 |
Weekly Sales Details | Net sales of 12,700 MT for 2024 were up 15 percent from the previous week and 4 percent from the prior 4-week average. Increases were primarily for South Korea (3,400 MT, including decreases of 400 MT), Japan (3,400 MT, including decreases of 600 MT), China (2,000 MT, including decreases of 100 MT), Mexico (1,000 MT), and Taiwan (1,000 MT, including decreases of 100 MT). |
Weekly Export Details | Exports of 14,100 MT were down 3 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to Japan (3,500 MT), South Korea (3,500 MT), China (2,300 MT), Mexico (1,400 MT), and Taiwan (1,100 MT). |
Comments and Performance Indicators | USDA projects 2024 exports will fall 8.3% from a year ago. |
Pork | |
Actual Sales (in MT) | 2024: 55,300 |
Weekly Sales Details | Net sales of 55,300 MT for 2024--a marketing-year high--were up 64 percent from the previous week and 74 percent from the prior 4-week average. Increases primarily for Mexico (32,800 MT, including decreases of 400 MT), Japan (5,700 MT, including decreases of 500 MT), Australia (5,400 MT), Canada (5,000 MT, including decreases of 600 MT), and South Korea (2,800 MT, including decreases of 200 MT), were offset by reductions for Vietnam (1,300 MT). |
Weekly Export Details | Exports of 34,200 MT were up 6 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to Mexico (13,100 MT), Japan (5,500 MT), South Korea (4,800 MT), China (3,300 MT), and Colombia (2,000 MT). |
Comments and Performance Indicators | USDA projects exports in 2024 will rise 4.6% from last year. |
Weekly wheat sales exceed expectations, while soybeans miss
Weekly wheat sales were just above the pre-report range for the week ended March 21, while soybean sales missed the expected range by 36,000 MT. Corn sales held steady at 1.21 MMT.
(Chip Flory)