FI Weekly USDA Export Sales Snapshot 07/08/22

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USDA Export Sales

Another poor week of sales for the books. We are under the impression both corn and soybean exports will fall short of USDA’s 2021-22 export projection, based on Census, inspection, and sales data.

 

 

 

 

Export Sales Highlights

This summary is based on reports from exporters for the period June 24-30, 2022.

Wheat: Net sales of 286,400 metric tons (MT) for 2022/2023 primarily for Taiwan (42,800 MT), Japan (39,500 MT), South Korea (36,100 MT), the Philippines (34,000 MT), and Mexico (32,400 MT, including decreases of 4,700 MT), were offset by reductions primarily for Italy (10,000 MT) and Canada (3,200 MT).  Exports of 287,100 MT were primarily to Egypt (66,000 MT), Taiwan (62,800 MT), Mexico (58,200 MT), Colombia (38,200 MT), and Japan (31,800 MT). 

Corn:  Net sales reductions of 66,600 MT for 2021/2022–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases primarily for Mexico (67,400 MT, including decreases of 2,700 MT), China (63,400 MT, including 68,000 MT switched from unknown destinations and decreases of 4,800 MT), Japan (49,200 MT, including 42,500 MT switched from unknown destinations and decreases of 700 MT), Colombia (14,000 MT, including 21,000 MT switched from unknown destinations and decreases of 500 MT), and El Salvador (8,200 MT, including 7,500 MT switched from Guatemala, 3,300 MT switched from Colombia, 700 MT switched from Nicaragua, and decreases of 600 MT), were more than offset by reductions primarily for unknown destinations (137,600 MT) and Canada (100,700 MT).  Net sales of 111,200 MT for 2022/2023 reported for China (84,000 MT), Saudi Arabia (30,000 MT), Guatemala (24,100 MT), Japan (3,000 MT), and Honduras (2,400 MT), were offset by reductions for Mexico (30,000 MT) and Canada (2,300 MT).  Exports of 1,027,400 MT were down 18 percent from the previous week and 21 percent from the prior 4-week average.  The destinations were primarily to Mexico (302,000 MT), Japan (236,500 MT), China (199,200 MT), Canada (126,100 MT), and Honduras (47,000 MT). 

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 108,300 MT is for unknown destinations (65,000 MT), Italy (34,300 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, the current outstanding balance of 35,400 MT is for Italy.

Barley:  Total net sales of 1,800 MT for 2022/2023 were for South Korea.  No exports were reported for the week. 

Sorghum:  Net sales of 54,000 MT for 2021/2022 were up noticeably from the previous week and up 96 percent from the prior 4-week average.  Increases were primarily for unknown destinations (50,000 MT), China (2,600 MT), and Mexico (1,000 MT).  Exports of 69,000 MT were down 7 percent from the previous week and 52 percent from the prior 4-week average.  The destinations were primarily to China (67,600 MT) and Mexico (1,100 MT).

 Rice:  Net sales of 30,400 MT for 2021/2022 were up 73 percent from the previous week, but down 2 percent from the prior 4-week average.  Increases primarily for Haiti (15,100 MT, including decreases of 200 MT), Nicaragua (6,000 MT), Honduras (5,100 MT), Canada (3,100 MT), and El Salvador (1,100 MT), were offset by reductions for Costa Rica (1,500 MT) and Argentina (300 MT).  Net sales of 1,600 MT for 2022/2023 were reported for Guatemala (1,100 MT) and El Salvador (500 MT).  Exports of 33,100 MT were down 28 percent from the previous week and 42 percent from the prior 4-week average.  The destinations were primarily to Japan (19,600 MT), Haiti (7,100 MT), Canada (2,200 MT), Mexico (1,100 MT), and South Korea (900 MT).

Exports for Own Account:  For 2021/2022, new exports for own account totaling 100 MT were to Canada.  The current exports for own account outstanding balance is 100 MT, all Canada.

 Soybeans:  Net sales reductions of 160,000 MT for 2021/2022–a marketing-year low–were up 33 percent from the previous week, but down noticeably from the prior 4-week average.  Increases primarily for the Netherlands (68,800 MT, including 63,000 MT switched from unknown destinations and decreases of 200 MT), Germany (68,500 MT), Egypt (61,700 MT, including 52,000 MT switched from unknown destinations and decreases of 2,900 MT), Mexico (48,900 MT, including 47,500 MT switched from unknown destinations and decreases of 1,700 MT), and Colombia (17,100 MT, including 18,000 MT switched from unknown destinations and decreases of 2,600 MT), were more than offset by reductions primarily for unknown destinations (405,800 MT) and China (59,200 MT).  Net sales of 240,100 MT for 2022/2023 were primarily for unknown destinations (115,500 MT), Mexico (101,000 MT), and Colombia (17,500 MT).  Exports of 504,900 MT were down 3 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to Mexico (125,300 MT), China (74,200 MT), the Netherlands (68,800 MT), Germany (68,500 MT), and Egypt (51,700 MT). 

 Export for Own Account: For 2021/2022, the current exports for own account outstanding balance is 6,300 MT, all Canada.

 Export Adjustment: Accumulated exports of soybeans to the Netherlands were adjusted down 68,525 MT for week ending June 9th.  The correct destination for this shipment is Germany.

Soybean Cake and Meal:  Net sales of 148,800 MT for 2021/2022 were up noticeably from the previous week and up 47 percent from the prior 4-week average.  Increases primarily for the Philippines (107,300 MT), Colombia (21,300 MT, including decreases of 5,500 MT), Canada (6,900 MT, including decreases of 5,200 MT), Belgium (4,600 MT), and Nicaragua (3,400 MT switched from Honduras), were offset by reductions primarily for Honduras (4,100 MT), Mexico (1,300 MT), Guatemala (800 MT), Ireland (800 MT), and Ecuador (700 MT).  Net sales of 30,400 MT for 2022/2023 were primarily for Guatemala (14,900 MT), the Dominican Republic (14,000 MT), Japan (900 MT), and Canada (500 MT).  Exports of 237,000 MT were down 20 percent from the previous week and 2 percent from the prior 4-week average.  The destinations were primarily to the Philippines (47,300 MT), Colombia (42,000 MT), Canada (25,800 MT), Honduras (24,700 MT), and Morocco (22,600 MT).

Soybean Oil:  No net sales were reported for the week.  Exports of 800 MT were up noticeably from the previous week, but down 91 percent from the prior 4-week average.  The destination was primarily to Canada (700 MT). 

Cotton:  Net sales of 37,400 RB for 2021/2022 were down 22 percent from the previous week and 57 percent from the prior 4-week average.  Increases primarily for Turkey (14,700 RB, including decreases of 15,100 RB), Vietnam (13,200 RB, including 2,200 RB switched from South Korea and 400 RB switched from Japan), China (10,000 RB, including 100 RB switched from India), Peru (2,600 RB), and Taiwan (1,300 RB), were offset by reductions primarily for Thailand (2,500 RB), South Korea (2,200 RB), and India (1,300 RB).  Net sales of 381,900 RB for 2022/2023 were primarily for Pakistan (98,700 RB), Turkey (95,500 RB), Bangladesh (66,100 RB), Vietnam (47,900 RB), and China (22,000 RB).  Exports of 377,800 RB were up 4 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to China (106,900 RB), Vietnam (58,800 RB), Turkey (51,500 RB), Pakistan (45,200 RB), and India (23,800 RB).  Net sales of Pima totaling 900 RB for 2021/2022 were up 19 percent from the previous week and 9 percent from the prior 4-week average.  Increases were primarily for Thailand (600 RB), Italy (200 RB), and Malaysia (100 RB).  Net sales of 5,500 RB for 2022/2023 were reported for Turkey (3,300 RB), India (1,300 RB), and Germany (900 RB).  Exports of 10,500 RB were up 64 percent from the previous week and 41 percent from the prior 4-week average.  The destinations were primarily to China (3,900 RB), Vietnam (1,900 RB), Thailand (1,700 RB), India (1,500 RB), and Ethiopia (500 RB). 

Optional Origin Sales:  For 2021/2022, options were exercised to export 2,100 RB to Vietnam from the United States.  The current outstanding balance of 12,700 RB is for Vietnam (10,200 RB) and Pakistan (2,500 RB). 

Export for Own Account: For 2021/2022, new exports for own account totaling 16,600 RB were to Vietnam (10,900 RB) and China (5,700 RB).  Exports for own account totaling 5,200 RB primarily to Vietnam (4,000 RB) were applied to new or outstanding sales.  The current exports for own account outstanding balance of 50,100 RB is for China (31,400 RB), Vietnam (13,900 RB), and Indonesia (4,800 RB).

Hides and Skins:  Net sales of 314,700 pieces for 2022 were down 14 percent from the previous week and 27 percent from the prior 4-week average.  Increases primarily for China (214,900 whole cattle hides, including decreases of 7,000 pieces), South Korea (46,400 whole cattle hides, including decreases of 500 pieces), Mexico (25,100, including decreases of 3,500 pieces), Japan (7,200 whole cattle hides), and Thailand (5,700 whole cattle hides, including decreases of 400 pieces), were offset by reductions for Indonesia (200 pieces).  Exports of 343,600 pieces were down 23 percent from the previous week and 17 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (198,500 pieces), Mexico (48,100 pieces), South Korea (40,500 pieces), Thailand (25,100 pieces), and Brazil (8,400 pieces). 

Net sales of 255,300 wet blues for 2022 were up noticeably from the previous week and up 60 percent from the prior 4-week average.  Increases were primarily for Italy (97,600 unsplit and 19,100 grain splits, including decreases of 1,600 unsplit), China (85,400 unsplit, including decreases of 100 unsplit), Hong Kong (20,000 unsplit), Vietnam (13,800 unsplit), and Taiwan (7,500 grain splits).  Exports of 83,500 wet blues were down 30 percent from the previous week and 45 percent from the prior 4-week average.  The destinations were primarily to China (28,900 unsplit), Vietnam (25,500 unsplit), Italy (14,200 unsplit and 3,000 grain splits), Taiwan (6,500 unsplit), and Thailand (3,100 unsplit).  Net sales of 561,300 splits were up noticeably from the previous week and from the prior 4-week average.  Increases were primarily for Vietnam (495,100 pounds).  Exports of 515,500 pounds were up 44 percent from the previous week and 17 percent from the prior 4-week average. The destination was to Vietnam.

Beef:  Net sales of 11,000 MT for 2022 were down 35 percent from the previous week and 30 percent from the prior 4-week average.  Increases primarily for Japan (6,300 MT, including decreases of 600 MT), South Korea (1,700 MT, including decreases of 500 MT), Canada (1,100 MT), Mexico (900 MT), and Vietnam (600 MT), were offset by reductions for China (1,600 MT) and the United Arab Emirates (100 MT).  Exports of 20,400 MT were up 3 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to Japan (5,500 MT), South Korea (4,400 MT), China (4,200 MT), Taiwan (1,400 MT), and Mexico (1,100 MT). 

Pork:  Net sales of 31,200 MT for 2022 were down 3 percent from the previous week, but up 23 percent from the prior 4-week average.  Increases were primarily for Mexico (16,200 MT, including decreases of 200 MT), China (11,400 MT, including decreases of 200 MT), Japan (1,100 MT, including decreases of 400 MT), Canada (900 MT, including decreases of 600 MT), and Australia (500 MT).  Exports of 32,200 MT were up 16 percent from the previous week and 19 percent from the prior 4-week average.  The destinations were primarily to Mexico (16,100 MT), China (3,900 MT), Japan (3,800 MT), South Korea (3,000 MT), and Canada (1,400 MT).

 

U.S. EXPORT SALES FOR WEEK ENDING  6/30/2022

 

	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	113.0	1,359.3	1,514.1	96.6	436.3	655.4	0.0	0.0
SRW	47.4	1,003.7	932.4	39.8	191.0	151.1	0.0	0.0
HRS	106.2	1,249.1	1,609.8	124.9	527.5	425.1	0.0	0.0
WHITE	29.8	903.2	1,079.4	25.8	274.2	283.6	0.0	0.0
DURUM	-10.0	94.4	8.4	0.0	18.0	31.6	0.0	0.0
TOTAL	286.4	4,609.6	5,144.1	287.1	1,447.0	1,546.8	0.0	0.0
BARLEY	1.8	13.3	23.7	0.0	2.2	1.4	0.0	0.0
CORN	-66.6	7,858.9	11,034.3	1,027.4	52,498.4	58,685.9	111.2	6,488.1
SORGHUM	54.0	641.0	893.1	69.0	6,317.3	6,337.0	0.0	0.0
SOYBEANS	-160.0	7,724.4	3,410.3	504.9	52,165.4	58,494.0	240.1	13,737.7
SOY MEAL	148.8	2,056.6	2,329.9	237.0	9,208.5	9,120.6	30.4	576.3
SOY OIL	0.0	81.8	21.2	0.8	603.8	656.3	0.0	0.0
RICE
L G RGH	12.1	82.5	224.5	0.4	1,246.5	1,532.3	1.6	13.1
M S RGH	0.0	6.8	8.4	0.0	14.1	25.5	0.0	0.0
L G BRN	0.1	3.1	11.9	0.5	51.6	39.5	0.0	0.0
M&S BR	-0.2	9.6	22.9	0.0	78.0	133.8	0.0	0.0
L G MLD	16.8	73.7	46.5	10.3	760.7	611.8	0.0	0.0
M S MLD	1.6	114.6	117.5	21.8	420.5	570.6	0.0	0.0
TOTAL	30.4	290.3	431.8	33.1	2,571.5	2,913.6	1.6	13.2
COTTON		THOUSAND RUNNING BALES
UPLAND	37.4	3,751.7	2,182.8	377.8	11,888.7	13,933.5	381.9	4,448.5
PIMA	0.9	48.4	107.7	10.5	432.3	720.0	5.5	59.1