FI Weekly USDA Export Sales Snapshot 07/01/21

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USDA Export Sales

Unimpressive USDA export sales with exception of new-crop soybeans that came in as expected.  Meal, soybean oil, and wheat sales were near the bottom end of trade expectations.  Corn sales were very disappointing.  Lower prices for the week ending June 24 appeared to have failed to attract new-crop business.  We were looking for an increase in commitments but may see this next week after commodity prices rallied, prompting some importers to secure supplies amid outlook for tighter US supplies.  China did buy 31,200 tons of old crop US soybeans and 1.147 million tons of new crop (as expected).  Romania and Slovenia bought soybean meal.  Pork sales were very good at 28,600 tons with Mexico committing to 17,700 tons. 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  06/24/2021

	CURRENT MARKETING YEAR						NEXT MARKETING YEAR
COMMODITY	NET SALES	OUTSTANDING SALES		WEEKLY EXPORTS	ACCUMULATED EXPORTS		NET SALES	OUTSTANDING SALES
		CURRENT YEAR	YEAR AGO		CURRENT YEAR	YEAR AGO
	THOUSAND METRIC TONS
WHEAT
HRW	91.2	1,549.4	1,932.9	99.8	519.4	838.6	0.0	0.0
SRW	17.9	1,039.8	510.8	8.9	31.8	68.3	0.0	0.0
HRS	93.8	1,562.6	1,621.1	26.9	353.1	464.2	0.0	0.0
WHITE	23.5	1,078.2	1,098.8	0.4	231.1	319.3	0.0	0.0
DURUM	0.0	8.4	225.0	0.0	26.3	85.0	0.0	0.0
TOTAL	226.3	5,238.4	5,388.7	136.0	1,161.7	1,775.4	0.0	0.0
BARLEY	0.0	23.7	40.3	0.0	1.1	1.3	0.0	0.0
CORN	15.0	12,147.5	8,430.9	1,136.7	57,399.6	33,882.6	67.6	15,748.3
SORGHUM	4.0	893.1	843.4	0.1	6,337.0	3,313.1	0.0	1,594.9
SOYBEANS	92.8	3,567.7	7,745.1	148.5	58,272.9	37,076.7	1,670.1	9,279.4
SOY MEAL	232.8	2,288.2	2,092.9	81.5	8,950.6	8,970.3	184.5	856.0
SOY OIL	2.3	26.1	212.9	1.0	651.8	976.4	0.0	0.6
RICE
L G RGH	26.9	221.1	81.7	48.5	1,525.3	1,317.4	0.0	0.0
M S RGH	-7.0	8.4	24.0	0.5	25.5	72.5	7.0	7.0
L G BRN	-0.6	12.2	11.4	0.3	38.9	56.8	0.7	0.7
M&S BR	0.1	23.0	31.6	0.1	133.7	86.4	0.0	0.0
L G MLD	4.0	45.2	58.6	3.2	607.8	830.6	0.0	0.0
M S MLD	-7.7	136.1	129.1	16.1	548.2	610.2	12.5	12.5
TOTAL	15.6	446.0	336.4	68.7	2,879.5	2,973.9	20.2	20.2
COTTON		THOUSAND RUNNING BALES
UPLAND	42.6	2,425.4	4,441.8	274.0	13,638.7	12,551.1	133.9	2,427.1
PIMA	2.2	121.5	126.0	10.4	700.8	448.4	0.1	4.1

 

This summary is based on reports from exporters for the period June 18-24, 2021.

Wheat:  Net sales of 226,300 metric tons (MT) were reported for delivery in marketing year 2021/2022.  Increases primarily for Japan (148,700 MT), Mexico (31,100 MT, including decreases of 1,200 MT), unknown destinations (18,500 MT), Jamaica (9,400 MT, switched from unknown destinations and decreases of 300 MT), and Guyana (8,100 MT, switched from unknown destinations and decreases of 200 MT), were offset by reductions primarily for Nigeria (2,500 MT).  Exports of 136,000 MT were primarily to Mexico (59,200 MT), Nigeria (27,500 MT), Japan (27,200 MT), Jamaica (9,400 MT), and Guyana (8,100 MT).

Corn:  Net sales of 15,000 MT for 2020/2021 were down 93 percent from the previous week and 94 percent from the prior 4-week average.  Increases primarily for Japan (99,700 MT, including 159,200 MT switched from unknown destinations and decreases of 4,500 MT), Mexico (94,700 MT, including decreases of 12,100 MT), Honduras (29,200 MT, including decreases of 6,000 MT), Nicaragua (22,500 MT), and Venezuela (8,400 MT, including 8,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (167,200 MT) and China (75,000 MT).  For 2021/2022, net sales of 67,600 MT were for unknown destinations (50,000 MT), Honduras (12,000 MT), Mexico (4,500 MT), Canada (600 MT), and Taiwan (500 MT).  Exports of 1,136,700 MT were down 33 percent from the previous week and 36 percent from the prior 4-week average.  The destinations were primarily to China (335,000 MT), Japan (334,700 MT, including 60,700 MT – late), Mexico (252,500 MT), South Korea (61,300 MT), and Honduras (49,600 MT). 

Optional Origin Sales:  For 2020/2021, new optional origin sales of 65,000 MT were reported for South Korea.  The current outstanding balance of 30,500 MT is for unknown destinations.  For 2021/2022, the current outstanding balance of 125,000 MT is for South Korea (65,000 MT) and unknown destinations (60,000 MT).

Late Reporting: For 2020/2021, exports totaling 80,900 MT of corn were reported late to Japan (60,700 MT) and Guatemala (20,200 MT).

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

Sorghum: Total net sales for 2020/2021 of 4,000 MT were for China.  Exports of 100 MT–a marketing year low–were unchanged from the previous week, but down noticeably from the prior 4-week average.  The destination was to South Korea.

Rice:  Net sales of 15,600 MT for 2020/2021 were down 80 percent from the previous week and 63 percent from the prior 4-week average.  Increases primarily for Mexico (19,700 MT, including decreases of 7,000 MT), Jordan (2,200 MT), Guatemala (2,000 MT), Canada (1,800 MT, including decreases of 700 MT), and Haiti (800 MT), were offset by reductions for Japan (12,000 MT).  For 2021/2022, net sales of 20,200 MT were for Japan (12,000 MT), Mexico (7,000 MT), Canada (700 MT), and Taiwan (500 MT).  Exports of 68,700 MT were up 61 percent from the previous week and 25 percent from the prior 4-week average.  The destinations were primarily to Mexico (25,700 MT), Nicaragua (23,600 MT), Japan (12,400 MT), Canada (2,400 MT), and Saudi Arabia (1,800 MT).

Exports for Own Account:  For 2020/2021, new exports for own account totaling 200 MT were for Canada.  The current exports for own account outstanding balance is 200 MT, all Canada.

Soybeans:  Net sales of 92,800 MT for 2020/2021 were down 35 percent from the previous week, but up 62 percent from the prior 4-week average.  Increases primarily for China (31,200 MT, including decreases of 100 MT), Canada (19,800 MT), Mexico (7,300 MT, including decreases of 3,300 MT), unknown destinations (6,400 MT), and Vietnam (6,100 MT,  including decreases of 100 MT), were offset by reductions for South Korea (100 MT).  For 2021/2022, net sales of 1,670,100 MT reported for China (1,147,000 MT), unknown destinations (511,600 MT), Indonesia (9,000 MT), and Taiwan (3,000 MT), were offset by reductions for Canada (500 MT).  Exports of 148,500 MT were down 39 percent from the previous week and 33 percent from the prior 4-week average.  The destinations were primarily to Mexico (69,900 MT), Indonesia (23,100 MT), China (9,500 MT), Japan (8,900 MT), and Vietnam (7,500 MT).

Exports for Own Account:  For 2020/2021, the current exports for own account outstanding balance is 5,800 MT, all Canada.

Export Adjustments:  Accumulated exports of soybeans to Mexico were adjusted down 11,742 MT for week ending May 27th.  This shipment was reported in error.

Late Reporting: For 2020/2021, exports totaling 4,000 MT of soybeans were reported late to Cuba.

Soybean Cake and Meal:  Net sales of 232,800 MT for 2020/2021 were down 40 percent from the previous week, but up 1 percent from the prior 4-week average.  Increases primarily for Vietnam (95,000 MT, including 50,000 MT switched from unknown destinations), Romania (45,000 MT), Slovenia (42,000 MT), Colombia (34,000 MT), and Mexico (21,400 MT, including decreases of 2,000 MT), were offset by reductions primarily for unknown destinations (44,300 MT), Ecuador (27,000 MT), and Costa Rica (3,500 MT).  For 2021/2022, net sales of 184,500 MT were primarily for Ecuador (90,000 MT), Mexico (84,200 MT), Honduras (6,000 MT), and Costa Rica (3,500 MT).  Exports of 81,500 MT were down 62 percent from the previous week and 63 percent from the prior 4-week average.  The destinations were primarily to Mexico (29,300 MT), Canada (17,400 MT), Guatemala (12,200 MT), Panama (5,700 MT), and Sri Lanka (4,400 MT).

Soybean Oil:  Net sales of 2,300 MT for 2020/2021 were down 2 percent from the previous week, but up 6 percent from the prior 4-week average.  Increases were primarily for Mexico (1,300 MT, including decreases of 900 MT).  Exports of 1,000 MT were down 85 percent from the previous week and 91 percent from the prior 4-week average.  The destinations were to Canada (600 MT) and Mexico (400 MT).

Cotton:  Net sales of 42,600 RB for 2020/2021 were down 43 percent from the previous week and 64 percent from the prior 4-week average.  Increases primarily for Vietnam (10,500 RB, including 3,100 RB switched from China, 800 RB switched from Japan, 400 RB switched from Thailand, and decreases of 11,000 RB), Pakistan (7,800 RB), Turkey (5,900 RB), Bangladesh (4,100 RB), and China (3,400 RB, including 2,200 RB switched from Vietnam), were offset by reductions for Malaysia (300 RB).  For 2021/2022, net sales of 133,900 RB were primarily for Mexico (54,800 RB), Bangladesh (46,800 RB), Pakistan (8,300 RB), China (7,700 RB), and Vietnam (4,400 RB).  Exports of 274,000 RB were up 33 percent from the previous week, but down 3 percent from the prior 4-week average.  Exports were primarily to Vietnam (77,800 RB), China (54,100 RB), Turkey (44,400 RB), Pakistan (22,500 RB), and Mexico (18,300 RB).  Net sales of Pima totaling 2,200 RB–a marketing-year low–were down 76 percent from the previous week and 61 percent from the prior 4-week average.  Increases primarily for Peru (1,600 RB), India (400 RB), and Turkey (300 RB), were offset by reductions for China (100 RB).  Total net sales for 2021/2022 of 100 RB were for Japan.  Exports of 10,400 RB were down 30 percent from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to India (6,300 RB), China (2,300 RB), Turkey (500 RB), Peru (300 RB), and Pakistan (300 RB).

Exports for Own Account:  For 2020/2021, the current exports for own account totaling 6,500 RB to Vietnam (4,500 RB), China (1,500 RB), and Bangladesh (400 RB) were applied to new or outstanding sales.  The outstanding balance of 4,700 RB is for China.

Hides and Skins:  Net sales of 964,300 pieces for 2021 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for China (855,700 whole cattle hides, including decreases of 6,400 pieces), South Korea (36,200 whole cattle hides, including decreases of 4,800 pieces), Mexico (18,500 whole cattle hides, including decreases of 1,300 pieces), Brazil (16,000 whole cattle hides, including decreases of 200 pieces), and Japan (11,500 whole cattle hides, including decreases of 1,600 pieces), were offset by reductions for Spain (200 pieces).  Total net sales of 11,200 kip skins were reported for Belgium.  Exports of 351,900 pieces were up 2 percent from the previous week, but down 4 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (243,300 pieces), South Korea (32,500 pieces), Mexico (23,800 pieces), Thailand (17,800 pieces), and Brazil (8,700 pieces).

Net sales of 114,300 wet blues for 2021 were down 45 percent from the previous week and 31 percent from the prior 4-week average.  Increases primarily for China (74,000 unsplit, including decreases of 200 unsplit), Mexico (23,000 unsplit and 300 grain splits), and Vietnam (16,300 unsplit), were offset by reductions for Italy (100 unsplit).  Exports of 154,800 wet blues were up 20 percent from the previous week, but down 3 percent from the prior 4-week average.  The destinations were primarily to Italy (35,300 unsplit and 3,600 grain splits), China (38,600 unsplit), Vietnam (31,000 unsplit), Mexico (12,200 unsplit and 3,500 grain splits), and Thailand (13,500 unsplit).  Net sales of 719,900 splits reported for Vietnam (600,000 pounds) and Taiwan (129,800 pounds), were offset by reductions for China (9,800 pounds).  Exports of 122,600 pounds were to China. 

Beef:  Net sales of 12,100 MT reported for 2021 were down 28 percent from the previous week and 17 percent from the prior 4-week average.  Increases were primarily for Japan (3,300 MT, including decreases of 500 MT), South Korea (2,800 MT, including decreases of 600 MT), China (2,100 MT, including decreases of 100 MT), Taiwan (1,500 MT, including decreases of 200 MT), and Canada (600 MT, including decreases of 200 MT).  Exports of 18,900 MT were up 4 percent from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to Japan (4,900 MT), South Korea (4,900 MT), China (4,200 MT), Taiwan (1,200 MT), and Mexico (1,100 MT).

Pork:  Net sales of 28,600 MT reported for 2021 were unchanged from the previous week, but up 12 percent from the prior 4-week average.  Increases primarily for Mexico (17,700 MT, including decreases of 900 MT), Japan (2,800 MT, including decreases of 400 MT), Canada (1,800 MT, including decreases of 800 MT), Colombia (1,600 MT, including decreases of 100 MT), and China (1,500 MT, including decreases of 1,000 MT), were offset by reductions for New Zealand (100 MT).  Exports of 32,200 MT were down 4 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to Mexico (13,500 MT), China (5,100 MT), Japan (4,000 MT), South Korea (3,000 MT), and Canada (2,000 MT).