Sales of old- and new-crop corn were in line with expectations. Wheat sales were lighter than expected and registered a new low for 2021-22. In start contrast, exports of nearly 676,000 MT marked a new high for the marketing year, with China as the lead buyer. Soybean sales were strong, as expected, with much of the business known thanks to USDA’s daily reporting system.
Cotton sales edged higher compared with last week for both marketing years, with the pace of commitments improving.
Beef sales were lackluster. Pork sales were up 21% from last week, but down from the prior four-week average. But pork exports of just shy of 30,000 MT were up from week-ago and the prior four-week average.
USDA Weekly Export Sales Report Week Ended Aug. 19, 2021 | |
Corn | |
Actual Sales (in MT) | Combined: 690,600 |
Expectations (in MT) | 2020-21: -100,000-250,000 |
Weekly Sales Details | Net sales of 6,600 MT for 2020-21 were down 97% from the previous week and 95% from the prior 4-week average. Increases primarily for Mexico (132,000 MT, including decreases of 11,900 MT), Canada (46,900 MT), Guatemala (12,300 MT, including 7,500 MT switched from Nicaragua and 1,100 switched from Costa Rica, and 2,000 MT switched from El Salvador), Taiwan (9,800 MT), and Honduras (7,300 MT, including 7,500 MT switched from Nicaragua, 5,100 MT switched from El Salvador, and decreases of 5,300 MT), were offset by reductions primarily for China (135,200 MT). For 2021-22, net sales of 684,000 MT primarily for Mexico (492,000 MT), Japan (93,000 MT), Colombia (51,500 MT), Nicaragua (10,000 MT), and Jamaica (10,000 MT), were offset by reductions for unknown destinations (3,500 MT). |
Weekly Export Details | Exports of 760,500 MT were down 8% from the previous week and 35% from the prior 4-week average. The destinations were primarily to China (340,800 MT), Mexico (265,800 MT), Nicaragua (30,100 MT), Guatemala (28,100 MT), and Venezuela (25,000 MT). |
Comments and Performance Indicators | Export commitments are 58% ahead of year-ago compared with 59% ahead last week. USDA projects exports in 2020-21 at 2.775 billion bu., up 56.2% from the previous marketing year. |
Wheat | |
Actual Sales (in MT) | 2021-22: 116,000 |
Expectations (in MT) | 2021-22: 200,000-600,000 |
Weekly Sales Details | Net sales of 116,000 metric tons (MT) for 2021-22—a marketing-year low—were down 62% from the previous week and 67% from the prior 4-week average. Increases primarily for Peru (80,200 MT, including 70,000 MT switched from unknown destinations), the Philippines (47,800 MT, including 42,700 MT switched from unknown destinations and decreases of 800 MT), Thailand (47,000 MT), Nigeria (38,000 MT switched from unknown destinations), and Guatemala (31,200 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (176,400 MT). |
Exports of 675,800 MT—a marketing-year high—were up 14% from the previous week and 39% from the prior 4-week average. The destinations were primarily to China (169,100 MT), the Philippines (107,800 MT), Mexico (93,300 MT), South Korea (81,400 MT), and Japan (63,500 MT). | |
Comments and Performance Indicators | Export commitments are 22% behind year-ago, compared with 18% 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: 1,825,100 |
Expectations (in MT) | 2020-21: -100,000-125,000 |
Weekly Sales Details | Net sales of 75,100 MT for 2020-21 were up 11% from the previous week and up noticeably from the prior 4-week average. Increases primarily for China (90,800 MT, including 68,000 MT switched from unknown destinations and decreases of 1,500 MT), the Netherlands (66,000 MT, including 60,000 MT switched from unknown destinations), Taiwan (21,100 MT), Indonesia (19,700 MT, including decreases of 300 MT), and Vietnam (5,900 MT, including decreases of 100 MT), were offset by reductions primarily for unknown destinations (131,000 MT). For 2021-22, net sales of 1,750,000 MT were primarily for China (934,500 MT), unknown destinations (587,900), Mexico (148,600 MT), Taiwan (26,500 MT), and Indonesia (15,400 MT). |
Weekly Export Details | Exports of 260,100 MT were up 1% from the previous week and 23% from the prior 4-week average. The destinations were primarily to Mexico (76,600 MT), China (71,200 MT), the Netherlands (66,000 MT), Indonesia (12,000 MT), and Colombia (7,100 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 2.260 billion bu., up 34.6% from year-ago. |
Soymeal | |
Actual Sales (in MT) | Combined: 201,200 |
Expectations | 2020-21: 25,000-350,000 |
Weekly Sales Details | Net sales of 61,700 MT for 2020-21—a marketing-year low—were down 14% from the previous week and 40% from the prior 4-week average. Increases primarily for Colombia (15,400 MT, including decreases of 10,800 MT), Canada (15,300 MT, including decreases of 200 MT), Mexico (10,700 MT, including decrease of 7,600 MT), Turkey (6,400 MT, including 6,000 MT switched from the United Kingdom), and the Philippines (5,300 MT), were offset by reductions primarily for Honduras (9,500 MT) and the United Kingdom (6,000 MT). For 2021-22, net sales of 139,500 MT were primarily for the Philippines (90,000 MT), Canada (33,900 MT), and Colombia (12,000 MT). |
| Exports of 240,300 MT were up 13% from the previous week and 7% from the prior 4-week average. The destinations were primarily to Mexico (80,200 MT), the Philippines (45,300 MT), Colombia (26,400 MT), Turkey (21,400 MT), and Canada (19,300 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 1.9% from the previous marketing year. |
Soyoil | |
Actual Sales (in MT) | 2020-21: 3,000 |
Expectations | 2020-21: 0-20,000 |
Weekly Sales Details | Net sales of 3,000 MT for 2020-21 were up noticeably from the previous week and up 90% from the prior 4-week average. Increases reported for Canada (3,200 MT), were offset by reductions for the Dominican Republic (300 MT). |
Weekly Export Details | Exports of 500 MT were up 15% from the previous week, but down 65% from the prior 4-week average. The destination was to Canada. |
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 40.1% this season. |
Cotton | |
Actual Sales (in RB) | Combined: 313,000 |
Weekly Sales Details | Net sales of 245,100 RB for 2021-22 were primarily for El Salvador (67,100 RB), Turkey (61,100 RB), Pakistan (35,000 RB), Honduras (26,500 RB), and Vietnam (14,900 RB, including 5,200 RB switched from China, 300 RB switched from Japan, and decreases of 1,100 RB). For 2022-23, net sales of 67,900 RB were primarily for El Salvador (48,000 RB) and Honduras (18,900 RB). |
Weekly Export Details | Exports of 201,700 RB were primarily to Pakistan (42,700 RB), Turkey (29,700 RB), Vietnam (27,200 RB), China (26,000 RB), and Mexico (20,900 RB). |
Comments and Performance Indicators | Export commitments are 20% behind 2020-22 compared with 22% last week at the start of the marketing year. USDA forecasts total cotton exports will fall 8.3% from year-ago to 15.00 million bales in 2021-22. |
Beef | |
Actual Sales (in MT) | 2021: 10,400 |
Weekly Sales Details | Net sales of 10,400 MT reported for 2021 were down 6% from the previous week and 33% from the prior 4-week average. Increases were primarily for Japan (3,800 MT, including decreases of 500 MT), South Korea (2,500 MT, including decreases of 500 MT), China (1,500 MT, including decreases of 100 MT), Hong Kong (900 MT, including decreases of 200 MT), and Taiwan (600 MT, including 100 MT switched from the Philippines and decreases of 100 MT). |
Weekly Export Details | Exports of 18,700 MT were down 5% from the previous week and 4% from the prior 4-week average. The destinations were primarily to Japan (5,400 MT), South Korea (5,300 MT), China (3,500 MT), Mexico (1,200 MT), and Taiwan (1,100 MT). |
Comments and Performance Indicators | USDA reported sales totaling 11,100 MT last week. USDA projects 2021 exports will climb 1.8% from year-ago levels. |
Pork | |
Actual Sales (in MT) | 2021: 24,100 |
Weekly Sales Details | Net sales of 24,100 MT reported for 2021 were up 21% from the previous week, but down 14% from the prior 4-week average. Increases primarily for Mexico (14,300 MT, including decreases of 600 MT), Japan (2,400 MT, including decreases of 400 MT), Canada (2,200 MT, including decreases of 600 MT), Colombia (1,300 MT, including decreases of 100 MT), and China (1,300 MT, including decreases of 200 MT), were offset by reductions primarily for the Philippines (1,600 MT). |
Weekly Export Details | Exports of 29,900 MT were up 4% from the previous week and from the prior 4-week average. The destinations were primarily to Mexico (14,100 MT), China (4,600 MT), Japan (3,900 MT), South Korea (1,800 MT), and Canada (1,700 MT). |
Comments and Performance Indicators | USDA reported net sales of 20,000 MT last week. USDA projects exports in 2021 will dip 1.9% from last year’s strong tally. |