FW: FI Weekly USDA Export Sales Snapshot 11/29/18

PDF attached

 

USDA export sales were mixed.

·         USDA export sales were better than expected for corn.

·         USDA soybean export sales were within expectations but running well below average for this time of year and crop-year to date commitments are running 32% below a year ago. Soybean meal export sales of 189,500 tons slipped from the previous week and shipments were 209,900 tons. SBO export sales fell to 9,200 tons from 40,000 last week and shipments were 23,500 tons.

·         All wheat export sales if 377,100 tons improved from the previous week and were about average for the week ending November 22.

 

 

U.S. EXPORT SALES FOR WEEK ENDING 11/22/2018

	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	150.3	1,447.0	1,941.0	72.8	2,845.7	4,769.8	0.0	0.0
SRW	8.2	654.6	523.1	62.4	1,143.8	1,079.9	0.0	6.0
HRS	136.7	1,889.9	1,675.7	53.1	2,924.7	3,004.3	0.0	0.0
WHITE	81.8	1,147.1	1,327.0	61.5	2,438.9	2,584.9	0.0	0.0
DURUM	0.0	156.0	58.5	0.0	243.7	200.6	0.0	0.0
TOTAL	377.1	5,294.6	5,525.2	249.8	9,596.7	11,639.6	0.0	6.0
BARLEY	1.0	35.1	22.1	0.6	21.8	15.9	0.0	0.0
CORN	1,266.5	11,968.0	14,528.5	1,053.2	13,602.1	7,494.3	0.0	110.5
SORGHUM	74.7	183.5	1,880.2	30.2	185.0	981.0	0.0	0.0
SOYBEANS	628.8	11,342.0	13,303.8	1,023.5	11,915.4	21,021.9	0.0	160.4
SOY MEAL	189.5	4,083.8	3,559.0	209.9	1,595.3	1,349.2	0.0	105.9
SOY OIL	9.2	211.5	85.4	23.5	99.9	116.9	0.0	0.2
RICE
L G RGH	3.0	221.5	226.6	23.1	394.3	337.9	0.0	0.0
M S RGH	0.0	19.1	10.5	0.3	4.5	1.9	0.0	0.0
L G BRN	0.1	6.1	6.7	0.1	6.1	4.1	0.0	0.0
M&S BR	0.9	26.4	0.6	1.0	7.0	4.8	0.0	0.0
L G MLD	10.8	170.2	219.4	30.7	265.9	279.2	0.0	0.0
M S MLD	1.8	130.1	141.6	0.9	110.0	128.2	0.0	0.0
TOTAL	16.6	573.5	605.3	56.0	787.8	756.1	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	176.8	7,165.8	7,456.4	126.1	2,527.5	2,189.7	14.2	1,942.1
PIMA	21.3	311.3	356.4	9.8	90.9	90.9	0.0	27.6

 Export Sales Highlights

This summary is based on reports from exporters for the period November 16-22, 2018.

Wheat:  Net sales of 377,100 metric tons for 2018/2019 were up 14 percent from the previous week, but down 25 percent from the prior 4-week average.  Increases were reported for Peru (80,500 MT, including 80,000 MT switched from unknown destinations), Nigeria (78,500 MT, including 34,000 MT switched from unknown destinations and decreases of 500 MT), Mexico (78,100 MT, including decreases of 400 MT), the Philippines (60,000 MT), and Japan (56,000 MT, including decreases of 100 MT).  Reductions were reported for unknown destinations (66,600 MT) and the French West Indies (8,600 MT).  Exports of 249,800 MT–a marketing-year low–were down 50 percent from the previous week and 34 percent from the prior 4-week average.  The destinations were primarily to South Korea (75,700 MT), Japan (50,200 MT), Mexico (44,600 MT), Nigeria (33,500 MT), and Jamaica (21,300 MT).    

Exports Own Account:  For 2018/2019, the current exports for own account outstanding balance is 33,400 MT, all Italy.

Corn:  Net sales of 1,266,500 MT for 2018/2019 were up 44 percent from the previous week and 77 percent from the prior 4-week average.  Increases were reported for South Korea (327,900 MT, including 60,000 MT switched from Japan and decreases of 66,000 MT), Colombia (267,800 MT, including 93,000 MT switched from unknown destinations, 33,000 MT switched from Trinidad and Tobago, and decreases of 900 MT), Japan (197,500 MT, including 40,200 MT switched from unknown destinations and decreases of 65,900 MT), Peru (157,000 MT, including 30,000 MT switched from unknown destinations and decreases of 3,600 MT), and Mexico (120,800 MT, including decreases of 4,400 MT).  Reductions were for Trinidad and Tobago (33,000 MT).  Exports of 1,053,200 MT were up 26 percent from the previous week and 4 percent from the prior 4-week average.  The destinations were primarily to Mexico (255,400 MT), Colombia (211,900 MT), Japan (207,300 MT), Peru (121,500 MT), and Taiwan (76,300 MT). 

Optional Origin Sales:  For 2018/2019, new optional origin sales of 66,000 MT were reported for South Korea.  Options were exercised to export 69,000 MT to South Korea from the United States.  The current outstanding balance of 643,200 MT is for unknown destinations (371,200 MT) and South Korea (272,000 MT). 

Barley:  Net sales of 1,000 MT were for Taiwan.  Exports of 600 MT were to South Korea.

Sorghum:  Net sales of 74,700 MT for 2018/2019 –a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for unknown destinations (60,000 MT), Japan (10,000 MT) and Mexico (4,700 MT, including decreases of 700 MT).  Exports of 30,200 MT were down 41 percent from the previous week, but up 42 percent from the prior 4-week average.  The destination was to Mexico.

Soybeans:  Net sales of 628,800 MT for 2018/2019 were down 8 percent from the previous week, but up 50 percent from the prior 4-week average.  Increases were reported for the Netherlands (235,600 MT, including 192,000 MT switched from unknown destinations, 63,000 MT switched from China and decreases of 25,400 MT), Argentina (112,700 MT, including 40,000 MT switched from unknown destinations, 27,000 MT switched from Switzerland, and decreases of 1,500 MT), Mexico (94,300 MT, including 47,500 MT switched from unknown destinations and decreases of 800 MT), Japan (67,800 MT, including 33,200 MT switched from unknown destinations and decreases of 100 MT), and Pakistan (65,700 MT).  Reductions were primarily for unknown destinations (193,600 MT), China (63,000 MT), Switzerland (27,000 MT), and the United Kingdom (11,500 MT).  Exports of 1,023,500 MT were down 20 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to the Netherlands (235,600 MT), Argentina (152,700 MT), Mexico (114,900 MT), Pakistan (65,700 MT), and Italy (64,700 MT). 

Optional Origin Sales: For 2018/2019, the current outstanding balance of 123,000 MT is for unknown destinations.

Exports for Own Account:  For 2018/2019, new export for own account sales of 26,800 MT were reported for Canada.  Decreases of 33,000 MT were applied to new or outstanding sales for Canada.  The current exports for own account outstanding balance is 29,500 MT, all Canada. 

Soybean Cake and Meal:  Net sales of 189,500 MT for 2018/2019 were down 18 percent from the previous week and 39 percent from the prior 4-week average.  Increases were reported for Colombia (82,200 MT, including 34,200 MT switched from unknown destinations and decreases of 2,600 MT), Japan (51,100 MT, including 3,000 MT switched from unknown destinations), Peru (35,900 MT), and Canada (23,700 MT, including decreases of 1,500 MT).  Reductions were for unknown destinations (39,000 MT), Israel (16,000 MT), and Ecuador (500 MT).  Exports of 209,900 MT were down 22 percent from the previous week and 8 percent from the prior 4-week average.  The destinations were primarily for Indonesia (53,500 MT), Colombia (49,000 MT), Mexico (31,700 MT), Peru (20,600 MT), and Canada (14,800 MT). 

Soybean Oil:  Net sales of 9,200 MT for 2018/2019 were down 77 percent from the previous week and 63 percent from the prior 4-week average.  Increases were reported for Jamaica (3,500 MT), Mexico (3,000 MT), and Canada (2,400 MT).  Exports of 23,500 MT were up noticeably from the previous week and the prior 4-week average.  Increases were reported to Colombia (14,000 MT), the Dominican Republic (4,000 MT), Mexico (3,200 MT), and Guatemala (2,000 MT). 

Rice:  Net sales of 16,600 MT for 2018/2019–a marketing-year low–were down 86 percent from the previous week and 82 percent from the prior 4-week average.  Increases were reported for Saudi Arabia (9,600 MT), Mexico (3,700 MT), Canada (1,400 MT), Kuwait (400 MT), and Switzerland (400 MT).  Exports of 56,000 MT were up 58 percent from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to Mexico (24,700 MT), Haiti (15,500 MT), Saudi Arabia (10,500 MT), Canada (2,400 MT), and South Korea (1,000 MT).

Cotton:  Net sales of 176,800 RB for 2018/2019 were down 16 percent from the previous week, but up noticeably from the prior 4-week average.  Increases were reported for Vietnam (92,400 RB, including 200 RB switched from Japan), Pakistan (27,800 RB, including decreases of 2,200 RB), India (17,400 RB), Japan (11,400 RB, including 200 RB switched from Thailand and decrease of 800 RB), and Turkey (11,000 RB).  Reductions were reported for China (7,500 RB), Thailand (3,700 RB), and Costa Rica (700 RB).  For 2019/2020, net sales of 14,200 RB were reported for Portugal (11,000 RB), South Korea (2,900 RB), and Japan (300 RB).  Exports of 126,100 RB were down 16 percent from the previous week and 4 percent from the prior 4-week average.  Exports were primarily to Vietnam (32,900 RB), China (19,200 RB), Pakistan (10,800 RB), Mexico (10,100 RB), and Indonesia (9,200 RB).  Net sales of Pima totaling 21,300 RB for 2018/2019 were down 18 percent from the previous week, but up 15 percent from the prior 4-week average.  Increases were reported for China (10,600 RB, including decreases of 400 RB), India (5,300 RB, including decreases of 1,300 RB), Peru (2,000 RB), Pakistan (1,800 RB), and Thailand (1,100 RB).  Exports of 9,800 RB were up 86 percent from the previous week and up noticeably from the prior 4-week average.  The destinations were primarily to China (3,500 RB), India (2,900 RB), and Vietnam (2,900 RB). 

Optional Origin Sales:  For 2018/2019, the current outstanding balance of 900 RB is for Vietnam.  

Exports for Own Account:  The current exports for own account outstanding balance is 6,800 RB, all China.

Hides and Skins:  Net sales of 322,500 pieces reported for 2018, all whole cattle hides, were down 1 percent from the previous week and 7 percent from the prior 4-week average.  Increases were for China (231,000 pieces, including decreases of 9,700 pieces), Mexico (30,500 pieces, including decreases of 500 pieces), South Korea (30,400 pieces, including decreases of 6,000 pieces), Thailand (12,400 pieces), and Brazil (6,100 pieces, including decreases of 300 pieces).  Reductions were reported for Japan (100 pieces).  For 2019, net sales of 18,300 pieces were reported for China (14,200 pieces) and Taiwan (4,100 pieces).  Exports of 426,600 pieces reported for 2018 were up 7 percent from the previous week, but down 6 percent from the prior 4-week average.  Whole cattle hide exports of 420,100 pieces were primarily to China (257,500 pieces), South Korea (92,800 pieces), Mexico (38,000 pieces), Brazil (12,700 pieces), and Thailand (7,300 pieces).

Net sales of 77,700 wet blues for 2018 were down 26 percent from the previous week, but up 1 percent from the prior 4-week average.  Increases were reported for Italy (38,900 unsplit), Vietnam (30,800 unsplit), Thailand (15,300 unsplit), Mexico (4,800 unsplit), and South Korea (1,400 grain splits).  Reductions were reported for Italy (15,200 grain splits) and Taiwan (700 grain splits and 200 unsplit).  For 2019, net sales of 28,800 unsplit were reported for Italy (22,800 unsplit) and Thailand (6,000 unsplit).  Exports of 113,600 wet blues for 2018 were up 7 percent from the previous week and 9 percent from the prior 4-week average.  The primary destinations were Italy (27,600 unsplit and 5,000 grain splits), China (24,500 unsplit), Vietnam (16,000 unsplit), Thailand (14,900 unsplit), and the Dominican Republic (10,300 unsplit).  Net sales reductions of splits totaling 522,800 pounds for 2018 were for Vietnam.  For 2019, total net sales of 916,500 pounds were reported for Vietnam.  Exports of 220,300 pounds for 2018 were up noticeably from the previous week, but down 14 percent from the prior 4-week average.  The destinations were Vietnam (200,000 pounds) and China (20,300 pounds).

Beef: Net sales of 9,100 MT reported for 2018 were down 26 percent from the previous week and 42 percent from the prior 4-week average.  Increases were reported for Japan (3,300 MT, including decreases of 400 MT), South Korea (2,500 MT, including decreases of 300 MT), Taiwan (700 MT), Hong Kong (700 MT, including decreases of 400 MT), and Mexico (500 MT, including decreases of 100 MT).  Reductions were reported for Vietnam (100 MT).  For 2019, net sales of 1,700 MT were primarily for South Korea (1,200 MT), Taiwan (200 MT), and Canada (100 MT).  Exports of 14,600 MT were down 11 percent from the previous week and 12 percent from the prior 4-week average.  The primary destinations were South Korea (4,300 MT), Japan (4,100 MT), Hong Kong (1,700 MT), Mexico (1,500 MT), and Taiwan (1,000 MT).

Pork:  Net sales of 20,900 MT reported for 2018 were up 44 percent from the previous week and 7 percent from the prior 4-week average.  Increases were reported for Mexico (7,200 MT), Japan (4,600 MT), China (3,300 MT), Australia (1,300 MT), and Colombia (1,000 MT).  Reductions were reported for the Philippines (300 MT).  For 2019, net sales of 13,000 MT were reported for China (9,400 MT), South Korea (1,200 MT), Chile (800 MT), Mexico (400 MT), and Colombia (300 MT).  Exports of 26,000 MT were down 4 percent from the previous week and 1 percent from the prior 4-week average.  The primary destinations were Mexico (9,000 MT), South Korea (4,300 MT), Japan (3,500 MT), Colombia (2,300 MT), and Canada (1,800 MT).

November 29, 2018                                           1                                  FOREIGN AGRICULTURAL SERVICE/USDA

                                                                                          REPORTED UNDER THE DAILY REPORTING SYSTEM                                                        

                                                                                                         FOR PERIOD ENDING NOVEMBER 22, 2018

 

                                   COMMODITY                                            DESTINATION                              QUANTITY                MARKETING YEAR                                                               

                                  

                                    CORN                                                        SOUTH KOREA                             270,000  MT  1/                 2018/2019

                                    SOYBEANS                                              UNKNOWN                                   243,567  MT  1/                 2018/2019

                                                                      1/ Export Sales.