FW: FI Weekly USDA Export Sales Snapshot 07/12/18

PDF attached

 

USDA US export sales were poor all around. 

·         USDA reported soybean export sales for the first week of July at 158,600 tons, below trade expectations and well below 561,700 tons last week. Reductions included unknown destinations for 296,900 tons.  New-crop soybean sales were 270,8700 tons versus 458,700 tons last week.

·         USDA export sales for meal were a low 37,500 tons for 2017-18 and 40,700 tons for 2018-19. Shipments were 153,900 tons.

·         Soybean oil export sales of 27,600 tons were ok. Shipments were a low 5,600 tons.

·         USDA reported US corn export sales at 402,100 tons for 2017-18 and 128,000 tons for 2018-19. Both of these amounts were poor, in our opinion.

·         All-wheat export sales were a dismal 136,400 tons.

 

 

 

 

 

 

                                     U.S. EXPORT SALES FOR WEEK ENDING 7/5/2018

 

 

	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	63.6	1,121.7	1,659.2	59.1	410.6	1,381.5	0.0	0.0
SRW	10.1	505.1	665.4	50.6	251.0	251.5	0.0	0.0
HRS	39.7	1,440.1	1,529.1	88.6	530.6	818.3	0.0	0.0
WHITE	3.1	1,155.1	1,565.5	81.6	565.9	676.6	0.0	0.0
DURUM	20.0	139.8	127.5	6.0	8.6	75.6	0.0	0.0
TOTAL	136.4	4,361.7	5,546.8	285.9	1,766.7	3,203.4	0.0	0.0
BARLEY	0.0	43.3	26.3	2.0	5.6	3.9	0.0	0.0
CORN	402.1	11,532.5	7,471.6	1,396.7	46,562.8	48,291.9	128.0	4,647.9
SORGHUM	-38.8	297.4	393.7	12.0	4,861.2	4,169.0	0.0	38.0
SOYBEANS	158.6	7,164.7	6,663.4	733.6	50,285.9	53,291.2	270.8	8,253.0
SOY MEAL	37.5	2,270.7	1,891.6	153.9	9,274.8	8,115.3	40.7	493.1
SOY OIL	27.5	204.4	114.2	5.6	791.0	891.5	3.9	23.2
RICE
L G RGH	-0.5	110.0	180.8	1.1	1,152.7	1,251.1	17.5	61.0
M S RGH	0.0	0.0	9.5	0.0	52.7	186.4	0.0	0.0
L G BRN	-0.7	2.7	5.1	0.0	14.8	21.0	0.0	0.0
M&S BR	0.1	0.2	4.1	0.1	66.6	188.5	0.0	0.0
L G MLD	37.4	81.8	218.4	18.6	873.4	793.3	0.0	0.0
M S MLD	0.6	104.1	45.7	2.7	513.1	785.2	0.0	1.3
TOTAL	36.9	298.8	463.6	22.4	2,673.4	3,225.3	17.5	62.2
COTTON		THOUSAND RUNNING BALES
UPLAND	121.6	2,527.7	1,734.7	257.4	13,780.3	12,838.2	251.4	5,832.8
PIMA	1.9	68.2	60.7	17.2	571.0	570.2	1.9	169.6

                                                                                                                                        

 

                                                                                          Export Sales Highlights

 

  This summary is based on reports from exporters for the period June 29-July 5, 2018.

 

Wheat:  Net sales of 136,400 MT for 2017/2018 were down 69 percent from the previous week and the prior 4-week average.     Increases were primarily for Nigeria (78,000 MT, including 30,000 MT switched from unknown destinations), the Philippines (75,800 MT, including 40,000 MT switched from unknown destinations), Guatemala (34,100 MT, including 32,300 MT switched from unknown destinations), Mexico (27,100 MT), and Indonesia (22,000 MT, including 20,000 MT switched from unknown destinations).  Reductions were reported for unknown destinations (129,300 MT) and Nicaragua (4,000 MT).  Exports of 285,900 MT were reported to Taiwan (49,300 MT), the Philippines (41,800 MT), Guatemala (37,300 MT), Mexico (36,700 MT), and Japan (33,200 MT). 

 

Corn:    Net sales of 402,100 MT for 2017/2018 were down 9 percent from the previous week and 33 percent from the prior 4-week average.  Increases were reported for South Korea (195,300 MT, including 130,000 MT switched from unknown destinations and decreases of 800 MT), Mexico (159,400 MT, including decreases of 9,200 MT), Japan (141,900 MT, including 51,800 MT switched from unknown destinations and decreases of 11,800 MT), Saudi Arabia (110,000 MT, including 101,000 MT switched from unknown destinations), and Indonesia (62,100 MT, switched from unknown destinations).  Reductions were primarily for unknown destinations (435,100 MT) and El Salvador (16,400 MT).  For 2018/2019, net sales of 128,000 MT were reported for Mexico (105,000 MT), unknown destinations (20,000 MT), and France (2,400 MT).  Exports of 1,396,700 MT were down 8 percent from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to Japan (294,600 MT), Mexico (276,000 MT), South Korea (198,100 MT), Saudi Arabia (110,000 MT), and Vietnam (83,000 MT). 

 

Optional Origin Sales:    For 2017/2018, the current optional origin outstanding balance of 337,000 MT is for South Korea (206,000 MT), unknown destinations (91,000 MT), and Egypt (40,000 MT).  For 2018/2019, new optional origin sales of 137,000 MT were reported for South Korea.  The current outstanding balance of 325,000 MT is for South Korea (205,000 MT), Saudi Arabia (70,000 MT), and unknown destinations (50,000 MT).

 

Barley:    No net sales were reported for the week.  Exports of 2,000 MT were to Japan.

 

Sorghum:    Net sales reductions of 38,800 MT, for 2017/2018 resulted as increases for China (2,100 MT), were more than offset by reductions for Mexico (38,000 MT) and unknown destinations (3,000 MT).   Exports of 12,000 MT were to Japan (10,100 MT), China (1,000 MT), and Mexico (900 MT).  

 

Rice:    Net sales of 36,900 MT for 2017/2018 were up 36 percent from the previous week and 51 percent from the prior 4-week average.  Increases were reported for Haiti (31,500 MT), Mexico (18,000 MT), Guatemala (1,500 MT), Canada (1,400 MT, including decreases of 700 MT), and the United Arab Emirates (800 MT).   Reductions were reported for Colombia (17,500 MT).  For 2018/2019, net sales of 17,500 MT were reported for Colombia.  Exports of 22,400 MT were down 40 percent from the previous week and 39 percent from the prior 4-week average.  The destinations were primarily to Haiti (14,800 MT), Mexico (1,800 MT), Canada (1,800 MT), Japan (1,300 MT), and the United Arab Emirates (800 MT).   

 

Soybeans:    Net sales of 158,600 MT for 2017/2018 were down 72 percent from the previous week and 62 percent from the prior 4-week average.  Increases were reported for Egypt (176,000 MT, including 177,000 MT switched from unknown destinations and decreases of 9,200 MT), Indonesia (85,800 MT, including 68,000 MT switched from unknown destinations and decreases of 600 MT), Taiwan (68,300 MT, including 63,000 MT switched from unknown destinations and decreases of 100 MT), the United Arab Emirates (43,800 MT, including 40,000 MT switched from unknown destinations), and Japan (34,700 MT, including decreases of 400 MT).  Reductions were for unknown destinations (296,900 MT) and Mexico (35,700 MT).    For 2018/2019, net sales of 270,800 MT were reported for unknown destinations (150,500 MT), Argentina (60,000 MT), and Mexico (21,800 MT).    Exports of 733,600 MT were down 22 percent from the previous week and 1 percent from the prior 4-week average.  The destinations included Egypt (271,000 MT), Indonesia (101,100 MT), Taiwan (87,600 MT), China (71,300 MT), and Mexico (62,800 MT). 

 

Optional Origin Sales:    For 2018/2019, the current optional origin outstanding balance of 228,000 MT is for China (165,000 MT) and unknown destinations (63,000 MT). 

 

Export for Own Account:    New exports for own account totaling 29,700 MT were reported to Canada.  The current outstanding balance of 130,900 MT is for Canada.

 

Soybean Cake and Meal:    Net sales of 37,500 MT for 2017/2018–a marketing-year low–were down 72 percent from the previous week and 68 percent from the prior 4-week average.  Increases were reported for Portugal (27,500 MT, including 28,000 MT switched from unknown destinations and decreases of 500 MT), Vietnam (10,500 MT), the Dominican Republic (9,400 MT, including decreases of 1,500 MT), Canada (7,100 MT), and the Philippines (5,600 MT).  Reductions were reported for Colombia (16,500 MT), Venezuela (9,600 MT), unknown destinations (6,500 MT), and El Salvador (3,000 MT).  For 2018/2019, net sales of 40,700 MT were primarily for unknown destinations (36,000 MT).  Exports of 153,900 MT were down 39 percent from the previous week and 41 percent from the prior 4-week average.  The primary destinations were the Philippines (47,800 MT), Portugal (27,500 MT), Mexico (23,100 MT), Canada (17,600 MT), and Colombia (6,700 MT).   

 

Soybean Oil:    Net sales of 27,500 MT for 2017/2018 were down 25 percent from the previous week, but up 33 percent from the prior 4-week average.  Increases were primarily for unknown destinations (12,000 MT), Peru (8,000 MT), Jamaica (3,500 MT), and Colombia (2,200 MT).  For 2018/2019, net sales of 3,900 MT were reported for Mexico (3,400 MT) and the Dominican Republic (500 MT).   Exports of 5,600 MT were down 84 percent from the previous week and 74 percent from the prior 4-week average.  The primary destinations were Colombia (3,500 MT), Mexico (1,600 MT), and Canada (400 MT).   

 

Cotton:    Net sales of 121,600 running bales for 2017/2018 were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for Vietnam (93,500 RB, including 1,300 RB switched from China and decreases of 200 RB), Turkey (7,000 RB), China (5,600 RB), Indonesia (4,000 RB, including 500 RB switched from Japan and 300 RB switched from unknown destinations), and Algeria (3,300 RB).  Reductions were reported for Japan (700 RB) and unknown destinations (300 RB).  For 2018/2019, net sales of 251,400 RB reported for Vietnam (126,900 RB), Guatemala (48,400 RB), Mexico (25,400 RB), and South Korea (15,900 RB), were partially offset by reductions for Honduras (400 RB) and Japan (300 RB).  Exports of 257,400 RB were down 38 percent from the previous week and 34 percent from the prior 4-week average.  The primary destinations were Vietnam (68,700 RB), Turkey (49,400 RB), Indonesia (32,200 RB), China (23,400 RB), and Mexico (18,400 RB).  Net sales of Pima totaling 1,900 RB for 2017/2018 were up 82 percent from the previous week, but down 30 percent from the prior 4-week average.  Increases were reported for China (1,700 RB, switched from Hong Kong), Thailand (1,100 RB), Bangladesh (500 RB), and South Korea (500 RB, switched from Vietnam).  Reductions were for Hong Kong (1,700 RB).  For 2018/2019, net sales of 1,900 RB were reported for India (1,300 RB), China (400 RB), and Egypt (200 RB).  Exports of 17,200 RB were up 43 percent from the previous week and 66 percent from the prior 4-week average.  The primary destinations were China (4,900 RB), India (2,600 RB), Mexico (1,800 RB), Thailand (1,500 RB), and Turkey (1,300 RB).   

 

Optional Origin Sales:    For 2017/2018, options were exercised to export 1,400 RB to Indonesia from the United States.  The current optional origin outstanding balance is 6,400 RB, all Indonesia.

 

Exports for Own Account:    The current outstanding balance of 13,000 RB is for Vietnam (6,300 RB), China (6,200 RB), and Bangladesh (500 RB).

 

Hides and Skins: Net sales of 368,100 pieces reported for 2018, all whole cattle hides, were down 8 percent from the previous week and 13 percent from the prior 4-week average.  Increases were for China (244,000 pieces, including decreases of 3,700 pieces), South Korea (65,600 pieces, including decreases of 3,100 pieces), Mexico (15,600 pieces, including decreases of 100 pieces), Taiwan (12,000 pieces, including decreases of 1,300 pieces), and Japan (11,800 pieces, including decreases of 300 pieces).   Reductions were reported for Indonesia (100 pieces).  Exports of 317,900 pieces for 2018 were down 17 percent from the previous week and 19 percent from the prior 4-week average.  Whole cattle hide exports of 316,400 pieces were primarily to China (169,700 pieces), South Korea (49,000 pieces), Thailand (42,100 pieces), Mexico (20,200 pieces), and Taiwan (12,900 pieces).

 

Net sales of 95,100 wet blues for 2018 were up 5 percent from the previous week, but down 20 percent from the prior 4-week average.  Increases were reported for Italy (18,700 unsplit and 16,600 grain splits), China (30,900 unsplit), Mexico (15,500 unsplit), and Vietnam (7,000 unsplit).  Reductions were reported for Mexico (300 grain splits), South Korea (200 unsplit), Thailand (100 grain splits and 100 unsplit), and the Dominican Republic (100 unsplit).  Exports of 121,600 wet blues for 2018 were down 17 percent from the previous week and 20 percent from the prior 4-week average.  The primary destinations were China (31,700 unsplit), Vietnam (28,600 unsplit), Thailand (13,400 grain splits and 8,700 unsplit), and Mexico (13,000 grain splits and 1,100 unsplit).  Net sales splits totaling 1,040,600 pounds for 2018 were up noticeably from the previous week and from the prior 4-week average.  The destinations were Vietnam (640,600 pounds) and South Korea (400,000 pounds).  Exports of 128,400 pounds were down 68 percent from the previous week and 78 percent from the prior 4-week average.  The destination was Vietnam.

 

Beef: Net sales of 16,200 MT for 2018 were up 25 percent from the previous week, but down 8 percent from the prior 4-week average.  Increases were primarily for Japan (6,300 MT, including decreases of 2,500 MT), South Korea (4,000 MT, including decreases of 900 MT), Mexico (1,800 MT), Hong Kong (900 MT, including decreases of 200 MT), and Taiwan (800 MT, including decreases of 100 MT).  For 2019, net sales of 200 MT were reported for Japan.  Exports of 15,300 MT were down 17 percent from the previous and from the prior 4-week average.  The primary destinations were Japan (5,800 MT), South Korea (3,600 MT), Taiwan (1,400 MT), Mexico (1,400 MT), and Canada (1,300 MT).

 

Pork: Net sales of 9,200 MT for 2018 were down 44 percent from the previous week and 43 percent from the prior 4-week average.  Increases were reported for Japan (3,600 MT), Australia (1,800 MT), Hong Kong (900 MT), Canada (900 MT), and Mexico (700 MT).  Exports of 18,500 MT were down 9 percent from the previous week and 4 percent from the prior 4-week average.  The primary destinations were Mexico (6,700 MT), Japan (3,300 MT), South Korea (2,300 MT), Canada (1,300 MT), and Hong Kong (1,100 MT).                    

 

July 12, 2018                                                        1                                                          FOREIGN AGRICULTURAL SERVICE/USDA

 

 

 

                                                                                                     SUMMARY OF EXPORT TRANSACTION

 

                                                                                          REPORTED UNDER THE DAILY REPORTING SYSTEM                                                        

 

                                                                                                         FOR PERIOD ENDING JULY 5, 2018

 

 

 

                                   COMMODITY                                      DESTINATION                               QUANTITY                    MARKETING YEAR

 

                                  

 

                                    CORN                                                   SOUTH KOREA                             137,000 MT 2/                2018/2019

 

                              

 

                                                                   

 

                                    2/ An optional origin contract provides that the origin of the commodity may be the U.S. or one or more other exporting countries.