FI Weekly USDA Export Sales Snapshot 11/12/21

PDF attached

 

USDA export sales supports the rise in meal prices this morning while other commodities came in within expectations.  Pork and sorghum sales were good.  Crop year to date soybean sales are still lagging well behind year ago. 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  11/4/2021

	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	59.7	1,853.9	1,600.6	93.0	3,365.9	4,585.3	0.0	0.0
SRW	7.8	533.2	420.9	74.6	1,382.9	944.6	22.5	22.5
HRS	156.6	1,141.7	1,553.8	40.3	2,467.8	3,274.6	0.0	0.0
WHITE	62.6	748.3	1,973.2	42.9	1,650.4	2,161.8	0.0	0.0
DURUM	-0.8	52.4	202.7	19.2	96.5	340.0	0.0	0.0
TOTAL	285.9	4,329.6	5,751.1	270.0	8,963.6	11,306.4	22.5	22.5
BARLEY	0.0	22.8	31.0	0.0	7.3	11.8	0.0	0.0
CORN	1,067.3	25,464.2	26,582.7	718.0	6,611.5	7,584.8	-2.5	334.9
SORGHUM	261.1	2,929.1	3,132.9	80.0	349.4	686.0	0.0	0.0
SOYBEANS	1,289.4	19,010.4	30,111.6	3,701.7	14,283.0	19,720.0	30.0	49.8
SOY MEAL	278.0	3,881.6	3,517.2	166.4	1,079.3	1,099.9	-0.1	36.8
SOY OIL	10.4	117.1	248.8	6.0	27.2	67.2	0.0	0.1
RICE
L G RGH	2.2	216.1	405.7	8.4	324.3	278.7	0.0	0.0
M S RGH	0.0	6.8	20.3	0.0	2.3	8.6	0.0	0.0
L G BRN	1.2	9.5	10.8	0.1	16.5	10.9	0.0	0.0
M&S BR	14.3	68.5	19.7	0.1	14.4	29.9	0.0	0.0
L G MLD	8.2	91.3	96.5	3.2	221.7	117.0	0.0	0.0
M S MLD	17.3	79.5	154.6	5.4	100.0	108.4	0.0	0.0
TOTAL	43.2	471.7	707.6	17.1	679.2	553.5	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	128.0	6,490.4	5,611.1	87.9	2,146.4	3,490.9	11.6	868.5
PIMA	6.5	212.1	265.0	9.6	93.8	182.6	0.0	1.8

 

This summary is based on reports from exporters for the period October 29 – November 4, 2021.

Wheat:  Net sales of 285,900 metric tons (MT) for 2021/2022 were down 29 percent from the previous week and from the prior 4-week average.  Increases primarily for the Philippines (152,000 MT), Japan (57,400 MT), Mexico (37,200 MT, including decreases of 1,400 MT), Italy (29,200 MT, including 20,000 MT switched from unknown destinations and decreases of 800 MT), and Guatemala (24,200 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (51,800 MT) and Nigeria (30,300 MT).  Total net sales of 22,500 MT for 2022/2023 were for unknown destinations.  Exports of 270,000 MT were up 98 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to Mexico (105,900 MT), Thailand (51,100 MT), Colombia (43,500 MT), Japan (30,900 MT), and Italy (19,200 MT).

Corn:  Net sales of 1,067,300 MT for 2021/2022 were down 13 percent from the previous week and 4 percent from the prior 4-week average.  Increases primarily for Canada (357,600 MT), Colombia (304,600 MT, including 19,900 MT switched from unknown destinations and decreases of 38,800 MT), Mexico (272,200 MT, including decreases of 48,700 MT), Japan (151,100 MT, including 93,300 MT switched from unknown destinations and decreases of 56,800 MT), and the Dominican Republic (11,500 MT), were offset by reductions primarily for unknown destinations (45,600 MT) and Costa Rica (13,700 MT).  Total net sales reductions for 2022/2023 of 2,500 MT were for Canada.  Exports of 718,000 MT were down 4 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to Mexico (313,700 MT), Japan (182,900 MT), Colombia (91,600 MT), Honduras (52,100 MT), and Canada (42,900 MT).

Optional Origin Sales:  For 2021/2022, options were exercised to export 65,000 MT to South Korea from other than the United States.  The current outstanding balance of 443,300 MT is for unknown destinations (379,000 MT), Italy (55,300 MT), and Saudi Arabia (9,000 MT).

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

Sorghum:  Total net sales of 261,100 MT for 2021/2022 were down 2 percent from the previous week, but up 57 percent from the prior 4-week average.  The destination was China.  Exports of 80,000 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were to China (79,400 MT) and Mexico (600 MT).

Rice:  Net sales of 43,200 MT for 2021/2022 were up 45 percent from the previous week and 1 percent from the prior 4-week average.  Increases primarily for El Salvador (14,800 MT, including 14,500 MT switched from Guatemala), South Korea (14,200 MT), Japan (13,000 MT), Jordan (5,200 MT), and Canada (2,200 MT), were offset by reductions primarily for Guatemala (13,000 MT).  Exports of 17,100 MT were down 66 percent from the previous week and 65 percent from the prior 4-week average.  The destinations were primarily to Mexico (5,100 MT), El Salvador (5,000 MT), Jordan (2,800 MT), Canada (2,100 MT), and Saudi Arabia (800 MT).

Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance is 200 MT, all Canada.

Soybeans:  Net sales of 1,289,400 MT for 2021/2022 were down 31 percent from the previous week and 25 percent the prior 4-week average.  Increases primarily for China (939,300 MT, including 583,000 MT switched from unknown destinations and decreases of 15,000 MT), Germany (311,400 MT), Egypt (231,400 MT, including 119,000 MT switched from unknown destinations and decreases of 1,700 MT), Portugal (82,100 MT, including 66,000 MT switched from unknown destinations), and Mexico (80,700 MT, including decreases of 300 MT), were offset by reductions primarily for unknown destinations (847,400 MT).  Total net sales of 30,000 MT for 2022/2023 were for unknown destinations.  Exports of 3,701,700 MT–a marketing-year high–were up 40 percent from the previous week and 70 percent from the prior 4-week average.  The destinations were primarily to China (2,337,700 MT), Germany (311,400 MT), Egypt (142,900 MT), Bangladesh (113,200 MT), and Taiwan (99,300 MT).

Export for Own Account: For 2021/2022, exports for own account totaling 66,400 MT to Canada were applied to new or outstanding sales.

Export Adjustments:  Accumulated export of soybeans to the Netherlands were adjusted down 70,704 MT for week ending September 30^th, 127,295 MT for week ending October 14^th, and 113,448 MT for week ending October 21^st.  The correct destination for these shipments is Germany. 

Soybean Cake and Meal:  Net sales of 278,000 MT for 2021/2022 were up 23 percent from the previous week and 12 percent from the prior 4-week average.  Increases primarily for Mexico (69,600 MT, including decreases of 11,300 MT), the Philippines (65,900 MT), Colombia (57,100 MT, including decreases of 1,200 MT), Ecuador (18,800 MT, including decreases of 200 MT), and Canada (11,100 MT, including decreases of 800 MT), were offset by reductions for Costa Rica (5,700 MT).   Net sales reductions of 100 MT for 2022/2023 resulting in increases for the Netherlands (500 MT), were more than offset by reductions for primarily for Japan (500 MT).  Exports of 166,400 MT were down 21 percent from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to Mexico (48,700 MT), Peru (31,900 MT), Canada (22,300 MT), Colombia (18,400 MT), and Honduras (13,400 MT). 

Soybean Oil:  Net sales of 10,400 MT for 2021/2022 were down 7 percent from the previous week and 14 percent from the prior 4-week average.  Increases were primarily for the Dominican Republic (3,100 MT), Colombia (2,500 MT), Venezuela (2,500 MT), Honduras (900 MT), and Mexico (800 MT).  Exports of 6,000 MT were down 41 percent from the previous week, but up 14 percent from the prior 4-week average.  The destinations were primarily to Venezuela (3,500 MT), Mexico (1,100 MT), and Honduras (1,000 MT).

Cotton:  Net sales of 128,000 RB for 2021/2022 were down 8 percent from the previous week and 51 percent from the prior 4-week average.  Increases primarily for China (78,800 RB), Bangladesh (16,800 RB), Turkey (13,300 RB), Pakistan (8,100 RB), and South Korea (7,900 RB), were offset by reductions primarily for Indonesia (12,900 RB).  Net sales of 11,600 RB for 2022/2023 were reported for Costa Rica (5,000 RB), Pakistan (4,400 RB), and Turkey (2,200 RB).  Exports of 87,900 RB were down 38 percent from the previous week and 16 percent from the prior 4-week average.  The destinations were primarily to China (36,700 RB), Mexico (18,000 RB), Vietnam (8,100 RB), Indonesia (7,100 RB), and Pakistan (3,300 RB).  Net sales of Pima totaling 6,500 RB were down 80 percent from the previous week and 63 percent from the prior 4-week average.  Increases were primarily for India (3,900 RB), China (900 RB switched from Vietnam), Peru (700 RB), Germany (400 RB), and Bahrain (300 RB).  Exports of 9,600 RB were up 25 percent from the previous week and 48 percent from the prior 4-week average.  The destinations were primarily to India (7,900 RB), Greece (400 RB), South Korea (400 RB), Bangladesh (400 RB), and Austria (300 RB).

Optional Origin Sales:  For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan. 

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

Hides and Skins:  Net sales of 638,400 pieces for 2021 were up 38 percent from the previous week and 50 percent from the prior 4-week average.  Increases were primarily for China (510,400 whole cattle hides, including decreases of 4,900 pieces), South Korea (47,800 whole cattle hides, including decreases of 300 pieces), Mexico (38,600 whole cattle hides, including decreases of 500 pieces), Thailand (14,100 whole cattle hides, including 1,900 whole cattle hides switched from Taiwan and decreases of 600 pieces), and Canada (6,200 whole cattle hides, including decreases of 1,200 pieces).  Total net sales of 2,600 kip skins were for China.  Net sales of 16,300 pieces for 2022 were reported for China (10,200 whole cattle hides), Taiwan (3,600 whole cattle hides), Vietnam (1,800 whole cattle hides), and Canada (700 whole cattle hides).  Exports of 361,300 pieces were down 10 percent from the previous week and 11 percent from the prior 4-week average.  Whole cattle hide exports were primarily to China (227,800 pieces), South Korea (43,800 pieces), Mexico (31,800 pieces), Thailand (14,200 pieces), and Indonesia (12,200 pieces).  In addition, exports of 1,300 kip skins were to China.

Net sales of 40,600 wet blues for 2021 were down 56 percent from the previous week and 68 percent from the prior 4-week average.  Increases for Mexico (11,100 grain splits and 900 unsplit), Vietnam (10,700 unsplit, including decreases of 1,600 unsplit), China (10,400 unsplit), Italy (4,500 unsplit, including decreases of 300 unsplit), and South Korea (3,200 grain splits), were offset by reductions for Italy (100 grain splits).  Net sales of 29,800 wet blues for 2022 were reported for Italy (28,200 grain splits) and Vietnam (1,600 unsplit).  Exports of 94,700 wet blues were down 29 percent from the previous week and 39 percent from the prior 4-week average.  The destinations were primarily to Italy (35,100 unsplit and 5,500 grain splits), China (30,700 unsplit), Vietnam (18,200 unsplit), Brazil (2,300 unsplit), and Mexico (2,000 grain splits).  Total net sales of 54,100 splits were for China.  Exports of 449,100 pounds were to Vietnam (240,000 pounds) and China (209,100 pounds).

Beef:  Net sales of 20,600 MT for 2021 were up 23 percent from the previous week and 39 percent from the prior 4-week average.  Increases primarily for China (8,200 MT, including decreases of 300 MT), Taiwan (4,300 MT, including decreases of 100 MT), Japan (2,200 MT, including decreases of 300 MT), Mexico (2,200 MT), and South Korea (1,600 MT, including decreases of 700 MT), were offset by reductions for Panama (200 MT) and Colombia (100 MT).  Net sales of 400 MT for 2022 resulting in increases for Japan (600 MT), China (200 MT), and Mexico (100 MT), were offset by reductions for South Korea (500 MT).  Exports of 17,000 MT were up 1 percent from the previous week and 3 percent from the prior 4-week average.  The destinations were primarily to South Korea (5,000 MT), Japan (3,700 MT), China (3,200 MT), Mexico (1,300 MT), and Taiwan (1,200 MT). 

Pork:  Net sales of 23,300 MT for 2021 were down 49 percent from the previous week and 28 percent from the prior 4-week average.  Increases primarily for Mexico (7,800 MT, including decreases of 500 MT), China (5,800 MT, including decreases of 300 MT), Japan (5,400 MT, including decreases of 100 MT), Canada (3,700 MT, including decreases of 500 MT), and the Dominican Republic (1,000 MT), were offset by reductions primarily for South Korea (2,400 MT).  Net sales of 13,600 MT for 2022 were primarily for South Korea (13,300 MT).  Exports of 32,000 MT were down 5 percent from the previous week and 1 percent from the prior 4-week average.  The destinations were primarily to Mexico (14,200 MT), Japan (4,500 MT), China (3,600 MT), South Korea (2,900 MT), and Colombia (2,400 MT).