FI Weekly USDA Export Sales Snapshot 03/03/22

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USDA Export sales

USDA export sales for soybeans for old crop of 857,000 tons and 1.386 million tons new-crop were near the upper end of expectations, when combined. New-crop sales for soybeans included 1.260 million tons). Product sales came in less than expected.  USDA export sales for corn of 485,100 tons for 2021-22 and 222,800 tons new-crop were near the lower end of expectations.  Sorghum sales were 102,000 tons included 145,500 tons for China (63k switched from unknown). USDA export sales for all wheat of 300,000 tons were near the lower end of expectations. 

 

 

 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  2/24/2022

 

 

This summary is based on reports from exporters for the period February 18-24, 2022.

Wheat:  Net sales of 300,000 metric tons (MT) for 2021/2022 were down 42 percent from the previous week, but up 54 percent from the prior 4-week average.  Increases primarily for Mexico (90,100 MT, including decreases of 21,500 MT), Japan (66,900 MT), Taiwan (56,300 MT), Colombia (40,100 MT, including 38,000 MT switched from unknown destinations), and the Philippines (36,700 MT), were offset by reductions primarily for unknown destinations (35,500 MT) and El Salvador (15,200 MT).  Net sales of 69,800 MT for 2022/2023 were reported for Mexico (38,000 MT), the Philippines (24,000 MT), Trinidad (5,800 MT), and Honduras (2,000 MT).  Exports of 364,800 MT were down 33 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to Mexico (82,600 MT), the Philippines (67,700 MT), Nigeria (52,600 MT), Colombia (40,100 MT), and Taiwan (38,500 MT). 

Corn:  Net sales of 485,100 MT for 2021/2022 were down 53 percent from the previous week and 47 percent from the prior 4-week average.  Increases primarily for Japan (320,400 MT, including 267,700 MT switched from unknown destinations and decreases of 21,000 MT), Mexico (180,200 MT, including decreases of 32,000 MT), Colombia (125,400 MT, including 121,300 MT switched from unknown destinations and decreases of 80,300 MT), the Dominican Republic (48,400 MT, including decreases of 9,600 MT), and Canada (34,000 MT, including decreases of 500 MT), were offset by reductions primarily for unknown destinations (274,600 MT).  Net sales of 222,800 MT for 2022/2023 were reported for Japan (192,900 MT, including 167,000 MT – late), Honduras (19,900 MT), and Canada (10,000 MT).  Exports of 1,550,800 MT were down 18 percent from the previous week, but up 7 percent from the prior 4-week average.  The destinations were primarily to Japan (456,700 MT), China (344,500 MT), Mexico (330,000 MT), Colombia (121,500 MT), and Canada (110,500 MT). 

Optional Origin Sales:  For 2021/2022, options were exercised to export 50,000 MT to unknown destinations from the United States.  The current outstanding balance of 170,800 MT is for unknown destinations (65,000 MT), South Korea (65,000 MT), Italy (31,800 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, the current outstanding balance of 3,900 MT is for Italy.

Late Reporting: For 2022/2023, net sales totaling 167,000 MT of corn were reported late for Japan.

Barley:  No net sales or exports were reported for the week.

Sorghum:  Net sales of 102,000 MT for 2021/2022 were up 69 percent from the previous week, but down 5 percent from the prior 4-week average.  Increases reported for China (145,000 MT, including 63,000 MT switched from unknown destinations), Mexico (10,500 MT), and Japan (9,500 MT), were offset by reductions for unknown destinations (63,000 MT).  Exports of 138,500 MT were down 46 percent from the previous week and 19 percent from the prior 4-week average.  The destinations were to China (136,600 MT) and Mexico (1,900 MT).

Rice:  Net sales of 70,000 MT for 2021/2022 were down 17 percent from the previous week and 39 percent from the prior 4-week average.  Increases primarily for Japan (25,000 MT), Haiti (15,300 MT), Guatemala (9,500 MT), Saudi Arabia (8,600 MT), and Honduras (7,100 MT), were offset by reductions primarily for Mexico (7,900 MT).  Exports of 81,100 MT were down 31 percent from the previous week, but up 2 percent from the prior 4-week average.  The destinations were primarily to Nicaragua (26,400 MT), Mexico (18,000 MT), Japan (13,000 MT), Saudi Arabia (9,400 MT), and El Salvador (8,600 MT).

Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance is 100 MT, all Canada.

Soybeans:  Net sales of 857,000 MT for 2021/2022 were down 31 percent from the previous week and 34 percent from the prior 4-week average.  Increases primarily for unknown destinations (345,900 MT), Egypt (178,000 MT), Italy (92,000 MT), Taiwan (69,400 MT, including decreases of 100 MT), and Mexico (63,000 MT, including decreases of 13,000 MT), were offset by reductions for China (15,000 MT) and Costa Rica (1,400 MT).  Net sales of 1,386,000 MT for 2022/2023 were reported for China (1,260,000 MT, including 132,000 MT – late) and unknown destinations (126,000 MT).  Exports of 751,000 MT were down 40 percent from the previous week and from the prior 4-week average.  The destinations were primarily to China (410,700 MT), Japan (126,400 MT), Mexico (81,400 MT), Colombia (35,400 MT), and Taiwan (32,100 MT). 

Export for Own Account: For 2021/2022, the current exports for own account outstanding balance is 3,000 MT, all Canada.

Late Reporting: For 2022/2023, net sales totaling 132,000 MT of soybeans were reported late for China.

Soybean Cake and Meal:  Net sales of 95,400 MT for 2021/2022 were down 59 percent from the previous week and 72 percent from the prior 4-week average.  Increases primarily for the Dominican Republic (33,200 MT), the Philippines (19,100 MT, including decreases of 900 MT), unknown destinations (17,000 MT), Canada (16,100 MT, including decreases of 3,000 MT), and Colombia (13,900 MT), were offset by reductions primarily for Costa Rica (25,900 MT), Guatemala (7,000 MT), and El Salvador (3,700 MT).  Total net sales of 60,000 MT for 2022/2023 were for unknown destinations.  Exports of 143,000 MT–a marketing-year low–were down 60 percent from the previous week and 48 percent from the prior 4-week average.  The destinations were primarily to the Philippines (44,900 MT), Mexico (25,700 MT), Canada (18,500 MT), Nicaragua (11,300 MT), and the Dominican Republic (11,000 MT). 

Soybean Oil:  Net sales of 6,600 MT for 2021/2022 were down 81 percent from the previous week and 66 percent from the prior 4-week average.  Increases primarily for the Dominican Republic (5,700 MT) and El Salvador (1,500 MT), were offset by reductions for Mexico (1,100 MT) and Guatemala (1,000 MT).  Exports of 13,700 MT were down 50 percent  from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to the Dominican Republic (12,000 MT) and Mexico (1,200 MT).

Cotton:  Net sales of 348,600 RB for 2021/2022 were up 41 percent from the previous week and 51 percent from the prior 4-week average.  Increases were primarily for Vietnam (96,900 RB, including 1,200 RB switched from Japan and decreases of 200 RB), China (75,800 RB), Turkey (63,600 RB), Pakistan (42,500 RB, including decreases of 100 RB), and Bangladesh (12,900 RB).  Net sales of 105,200 RB for 2022/2023 primarily for Vietnam (75,800 RB), Mexico (15,000 RB), Pakistan (6,200 RB), Bangladesh (3,900 RB), and Indonesia (3,100 RB), were offset by reductions for China (700 RB).  Exports of 354,100 RB were down 6 percent from the previous week, but up 14 percent from the prior 4-week average.  The destinations were primarily to China (143,600 RB, including 5,200 RB – late), Pakistan (65,200 RB), Vietnam (39,600 RB, including 1,000 RB – late), Turkey (37,400 RB), and Mexico (12,000 RB).  Net sales of Pima totaling 7,400 RB were up 51 percent from the previous week and 40 percent from the prior 4-week average.  Increases were primarily for India (3,900 RB), China (2,200 RB), Honduras (500 RB), Thailand (300 RB), and Bangladesh (200 RB).  Total net sales for 2022/2023 of 900 RB were for Peru.  Exports of 11,000 RB were down 39 percent from the previous week and 23 percent from the prior 4-week average.  The destinations were primarily to Vietnam (3,200 RB), China (1,900 RB), India (1,900 RB), Peru (1,500 RB), and Egypt (900 RB). 

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 61,600 RB is for Vietnam (52,800 RB) and Pakistan (8,800 RB). 

Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance is 100 RB, all Vietnam.

Late Reporting: For 2021/2022, exports totaling 6,900 MT of upland cotton were reported late to China (5,200 RB), Vietnam (1,000 RB), Indonesia (400 RB), and Thailand (300 RB).

Hides and Skins:  Net sales of 453,500 pieces for 2022 were up 19 percent from the previous week and 11 percent from the prior 4-week average.  Increases primarily for China (299,900 whole cattle hides, including decreases of 20,400 pieces), South Korea (66,200 whole cattle hides, including decreases of 600 pieces), Taiwan (30,300 whole cattle hides, including decreases of 100 pieces), Mexico (28,900 whole cattle hides, including decreases of 800 pieces), and Brazil (22,100 whole cattle hides, including decreases of 100 pieces), were offset by reductions for Turkey (200 pieces) and Italy (200 pieces).  Total net sales reductions of 600 kip skins were for Belgium.  Exports of 353,700 pieces were down 12 percent from the previous and 6 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (229,100 pieces), Mexico (47,200 pieces), South Korea (25,700 pieces), Thailand (21,100 pieces), and Taiwan (8,900 pieces).  In addition, exports of 7,800 kip skins were to Belgium.

Net sales of 35,300 wet blues for 2022 were down 69 percent from the previous week and 64 percent from the prior 4-week average.  Increases primarily for Taiwan (10,200 unsplit), Thailand (7,200 unsplit, including decreases of 100 unsplit), Vietnam (5,000 unsplit, including decreases of 100 unsplit), China (4,600 unsplit), and Portugal (4,600 unsplit), were offset by reductions for Italy (300 grain splits).  Exports of 69,100 wet blues were down 38 percent from the previous week and 47 percent from the prior 4-week average.  The destinations were primarily to Thailand (22,400 unsplit), Italy (9,600 unsplit and 6,800 grain splits), Vietnam (15,400 unsplit), Hong Kong (4,000 unsplit), and Mexico (3,600 unsplit).  Net sales of 373,600 splits primarily for China (167,000 pounds) and Vietnam (151,900 pounds, including decreases of 53,100 pounds), were offset by reductions for South Korea (27,200 pounds).  Exports of 643,200 pounds were to Vietnam (439,600 pounds), South Korea (159,600 pounds), and China (44,000 pounds).

Beef:  Net sales of 23,800 MT for 2022 were up 64 percent from the previous week and 23 percent from the prior 4-week average.  Increases were primarily for South Korea (9,800 MT, including decreases of 500 MT), China (4,100 MT, including decreases of 200 MT), Japan (2,800 MT, including decreases of 700 MT), Taiwan (2,000 MT, including decreases of 300 MT), and Canada (1,300 MT).  Exports of 17,600 MT were up 15 percent from the previous week and 11 percent from the prior 4-week average.  The destinations were primarily to South Korea (5,200 MT), Japan (4,500 MT), China (2,700 MT), Mexico (1,400 MT), and Taiwan (1,200 MT). 

Pork:  Net sales of 42,200 MT for 2022 were up 59 percent from the previous week and 80 percent from the prior 4-week average.  Increases were primarily for Mexico (17,000 MT, including decreases of 700 MT), China (16,600 MT, including decreases of 300 MT), Japan (3,000 MT, including decreases of 200 MT), South Korea (2,400 MT, including decreases of 900 MT), and Canada (1,300 MT, including decreases of 400 MT).  Exports of 30,100 MT were unchanged from the previous week, but down 3 percent from the prior 4-week average.  The destinations were primarily to Mexico (12,900 MT), Japan (4,500 MT), China (4,300 MT), South Korea (2,800 MT), and Colombia (1,400 MT).