FI Weekly USDA Export Sales Snapshot 02/16/23

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USDA export sales improved from the previous week on a combined crop year basis for all the major commodities. Soybean meal shipments slowed from the previous week but were still above 200,000 tons.

 

Soybean sales included China for 283,600 MT but 252,000 MT was switched from unknown destinations and 51,300 MT switched from Pakistan. New-crop soybean sales include China for 189,000 MT and unknown destinations of 66,000 MMT.  Soybean meal sales of 270,900 tons were ok. Soybean oil sales of 8,300 tons were highest since October 13 but cumulative crop-year sales are lowest in more than a couple decades. Corn sales slowed to 1.025 million tons old crop but were near the higher end of a range of expectations. China bought 126,000 tons of corn. Other countries included Mexico and unknown destinations. There were 209,900 tons of 2022-23 of all wheat sales, lower end of expectations but above the previous week.

 

Sorghum sales were 113,000 tons, all for China.

 

Pork sales were a robust 45,000 tons and included Mexico, Japan, South Korea and China as top buyers.

 

 

 

 

Export Sales Highlights

This summary is based on reports from exporters for the period February 3-9, 2023.

Wheat:  Net sales of 209,800 metric tons (MT) for 2022/2023 were up 60 percent from the previous week, but down 32 percent from the prior 4-week average. Increases primarily for Taiwan (39,500 MT), Japan (35,600 MT), Nigeria (33,000 MT, including 30,000 MT switched from unknown destinations), Mexico (22,600 MT, including decreases of 900 MT), and Venezuela (17,000 MT, including 25,000 MT switched from unknown destinations and decreases of 8,000 MT), were offset by reductions for Egypt (500 MT) and Burma (300 MT). Total net sales of 23,000 MT for 2023/2024 were for Guatemala. Exports of 500,100 MT were down 7 percent from the previous week, but up 25 percent from the prior 4-week average. The destinations were primarily to Japan (117,900 MT), Vietnam (64,000 MT), Mexico (63,800 MT), Egypt (59,500 MT), and the Philippines (58,400 MT).

Corn:  Net sales of 1,024,500 MT for 2022/2023 were down 12 percent from the previous week and 15 percent from the prior 4-week average. Increases were primarily for Mexico (269,000 MT, including decreases of 21,800 MT), unknown destinations (247,300 MT), China (126,000 MT), Colombia (115,400 MT, including decreases of 1,500 MT), and Saudi Arabia (73,500 MT, including 70,000 MT switched from unknown destinations). Total net sales of 100,000 MT for 2023/2024 were for Mexico. Exports of 670,500 MT were up 70 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to Mexico (386,000 MT), Saudi Arabia (73,500 MT), Guatemala (41,000 MT), El Salvador (35,800 MT), and Japan (35,600 MT).  Optional Origin Sales:  For 2022/2023, the current outstanding balance of 100,000 MT, all South Korea. 

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

Sorghum:  Net sales of 113,000 MT for 2022/2023 were up noticeably from the previous week and up 7 percent from the prior 4-week average. The destination was for China. Exports of 1,000 MT were up noticeably from the previous week, but down 95 percent from the prior 4-week average. The destination was to Mexico.

Rice:  Net sales of 59,400 MT for 2022/2023 were down 47 percent from the previous week, but up 36 percent from the prior 4-week average. Increases were primarily for Mexico (51,200 MT), Guatemala (5,000 MT), El Salvador (1,500 MT, including 1,200 MT switched from Guatemala), Saudi Arabia (800 MT), and Canada (300 MT, including decreases of 700 MT). Exports of 61,700 MT were up 82 percent from the previous week and 56 percent from the prior 4-week average. The destinations were primarily to Mexico (25,100 MT), Honduras (19,200 MT), Guatemala (10,000 MT), Canada (2,800 MT), and El Salvador (2,600 MT).

Soybeans:  Net sales of 512,800 MT for 2022/2023 were up 37 percent from the previous week, but down 35 percent from the prior 4-week average. Increases primarily for China (283,600 MT, including 252,000 MT switched from unknown destinations, 51,300 MT switched from Pakistan, and decreases of 72,900 MT), Mexico (198,100 MT, including 47,500 MT switched from unknown destinations and decreases of 1,000 MT), Germany (153,500 MT), the Netherlands (131,900 MT, including 134,000 MT switched from unknown destinations and decreases of 8,300 MT), and Spain (130,000 MT, including 119,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (509,000 MT) and Pakistan (121,000 MT). Net sales of 259,100 MT for 2023/2024 were reported for China (189,000 MT), unknown destinations (66,000 MT), Taiwan (3,000 MT), and Canada (1,100 MT). Exports of 1,903,200 MT were up 9 percent from the previous week, but unchanged from the prior 4-week average. The destinations were primarily to China (1,107,300 MT), Germany (153,500 MT), the Netherlands (131,900 MT), Spain (130,000 MT), and Mexico (114,000 MT).  Optional Origin Sales:  For 2022/2023, the current outstanding balance of 300 MT, all South Korea.  Export for Own Account:  For 2022/2023, new exports for own account totaling 100 MT were to Taiwan. The current exports for own account outstanding balance of 1,600 MT are for Canada (1,500 MT) and Taiwan (100 MT).  Export Adjustments:  Accumulated exports of soybeans to the Netherlands were adjusted down 67,997 MT for week ending January 26th and 85,551 MT for week ending February 2nd.  The correct destination for these shipments is Germany. 

Soybean Cake and Meal:  Net sales of 270,900 MT for 2022/2023 were up 49 percent from the previous week and 7 percent from the prior 4-week average. Increases primarily for the Philippines (56,200 MT), Vietnam (50,000 MT), Colombia (40,100 MT), Ireland (37,000 MT), and Ecuador (32,400 MT, including decreases of 23,400 MT), were offset by reductions primarily for Canada (2,000 MT) and unknown destinations (1,900 MT). Total net sales of 25,000 MT for 2023/2024 were for Ireland. Exports of 204,800 MT were down 35 percent from the previous week and 31 percent from the prior 4-week average. The destinations were primarily to the Philippines (51,400 MT), Ecuador (32,400 MT), Guatemala (27,400 MT), Mexico (18,000 MT), and Canada (12,800 MT).

Soybean Oil:  Net sales of 8,300 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Colombia (5,000 MT) and Canada (3,300 MT, including decreases of 100 MT). Exports of 500 MT were down 79 percent from the previous week and 66 percent from the prior 4-week average. The destinations were to Canada (400 MT) and Mexico (100 MT).

Cotton:  Net sales of 216,900 RB for 2022/2023 were down 18 percent from the previous week, but up 1 percent from the prior 4-week average. Increases primarily for Vietnam (67,700 RB, including 3,100 RB switched for China and 1,100 RB switched from South Korea), China (61,600 RB, including 8,800 RB switched from Vietnam), Pakistan (23,200 RB), Bangladesh (17,000 RB), and South Korea (15,500 RB, including 4,900 RB switched from Vietnam and decreases of 1,800 RB), were offset by reductions for Peru (1,000 RB) and Ecuador (200 RB). Net sales of 23,900 RB for 2023/2024 were reported for Portugal (22,000 RB) and Thailand (1,900 RB). Exports of 186,400 RB were down 11 percent from the previous week and 5 percent from the prior 4-week average. The destinations were primarily to Pakistan (47,900 RB), China (45,900 RB), Vietnam (19,200 RB), Turkey (15,800 RB), and Mexico (11,100 RB). Net sales of Pima totaling 2,000 RB for 2022/2023 were up 54 percent from the previous week, but down 5 percent from the prior 4-week average. Increases reported for Vietnam (900 RB), China (900 RB), Pakistan (400 RB), and Thailand (400 RB), were offset by reductions for Italy (600 RB). Exports of 6,900 RB were up 19 percent from the previous week and 26 percent from the prior 4-week average. The destinations were primarily to Vietnam (2,800 RB), India (2,600 RB), Thailand (600 RB), Pakistan (400 RB), and Bangladesh (400 RB).  Optional Origin Sales:  For 2022/2023, the current outstanding balance of 9,300 RB, all Malaysia.

Export for Own Account:  For 2022/2023, new exports for own account totaling 16,200 RB were to China (13,800 RB) and Vietnam (2,400 RB). Exports for own account totaling 35,800 RB to China (34,000 RB), Vietnam (1,200 RB), and Turkey (600 RB) were applied to new or outstanding sales. The current exports for own account outstanding balance of 98,000 RB are for China (63,700 RB), Vietnam (20,600 RB), Pakistan (5,000 RB), Turkey (4,800 RB), South Korea (2,400 RB), and India (1,500 RB).

Hides and Skins:  Net sales of 663,600 pieces for 2023 were up 68 percent from the previous week and 54 percent from the prior 4-week average. Increases primarily for China (445,300 whole cattle hides, including decreases of 56,100 pieces), Mexico (103,500 whole cattle hides, including decreases of 700 pieces), Brazil (47,100 whole cattle hides, including decreases of 1,700 pieces), South Korea (37,500 whole cattle hides, including decreases of 4,300 pieces), and Thailand (18,500 whole cattle hides, including decreases of 1,500 pieces), were offset by reductions for Japan (2,400 pieces), Vietnam (600 pieces), and Taiwan (600 pieces). In addition, net sales reductions of 1,900 kip skins were primarily for Belgium (1,400 kip skins). Exports of 461,300 pieces were down 7 percent from the previous week, but unchanged from the prior 4-week average. Whole cattle hides exports were primarily to China (270,900 pieces), South Korea (71,800 pieces), Mexico (48,900 pieces), Thailand (27,200 pieces), and Brazil (9,200 pieces). Exports of 5,600 calf skins were to Italy. In addition, exports of 3,600 kip skins were to Italy (2,300 pieces) and Canada (1,300 pieces).

Net sales of 99,000 wet blues for 2023 were up 8 percent from the previous week, but down 7 percent from the prior 4-week average. Increases were primarily for Thailand (47,200 unsplit), China (18,800 unsplit), Vietnam (9,700 unsplit and 8,000 grain splits), Taiwan (5,100 unsplit), and Italy (4,600 unsplit, including decreases of 100 pieces). Exports of 148,900 wet blues were up 19 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Italy (65,100 unsplit and 3,800 grain splits), China (35,100 unsplit), Vietnam (20,700 unsplit), Thailand (12,400 unsplit), and Hong Kong (6,800 unsplit). Net sales of 7,800 splits were reported for Vietnam (4,400 pounds, including decreases of 900 pounds), Hong Kong (2,000 pounds, including decreases of 300 pounds), South Korea (800 pounds), and Taiwan (600 pounds). Exports of 323,500 pounds were to Vietnam (160,300 pounds), Taiwan (82,600 pounds), and Hong Kong (80,600 pounds).

Beef:  Net sales of 28,100 MT for 2023 were up 72 percent from the previous week and 34 percent from the prior 4-week average. Increases were primarily for Japan (8,600 MT, including decreases of 500 MT), South Korea (6,800 MT, including decreases of 500 MT), China (6,100 MT, including decreases of 100 MT), Mexico (2,200 MT, including decreases of 100 MT), and Hong Kong (1,000 MT, including decreases of 200 MT). Exports of 16,700 MT were up 8 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to South Korea (4,300 MT), Japan (4,300 MT), China (3,100 MT), Mexico (1,700 MT), and Taiwan (1,300 MT).

Pork:  Net sales of 45,000 MT for 2023 were up 56 percent from the previous week and 30 percent from the prior 4-week average. Increases primarily for Mexico (18,800 MT, including decreases of 200 MT), Japan (11,500 MT, including decreases of 100 MT), South Korea (4,400 MT, including decreases of 700 MT), China (4,100 MT, including decreases of 100 MT), and Colombia (1,200 MT), were offset by reductions for Nicaragua (100 MT). Exports of 30,500 MT were unchanged from the previous week, but down 4 percent from the prior 4-week average. The destinations were primarily to Mexico (13,400 MT), China (4,100 MT), Japan (3,500 MT), South Korea (2,600 MT), and Canada (2,300 MT).

 

U.S. EXPORT SALES FOR WEEK ENDING  2/9/2023 

 

	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	21.7	747.5	1,825.4	168.7	3,761.0	5,140.9	0.0	101.3
SRW	41.2	608.4	610.9	67.3	1,984.2	1,963.4	23.0	157.1
HRS	72.6	1,051.4	1,119.6	189.0	3,897.2	3,554.0	0.0	49.8
WHITE	73.8	1,057.6	618.3	75.2	3,092.2	2,464.0	0.0	23.4
DURUM	0.5	83.7	55.6	0.0	228.8	113.1	0.0	1.9
TOTAL	209.8	3,548.5	4,229.8	500.1	12,963.3	13,235.3	23.0	333.5
BARLEY	0.0	4.4	13.8	0.0	7.2	14.7	0.0	0.0
CORN	1,024.5	14,140.7	24,199.8	670.5	13,676.0	22,332.7	100.0	1,537.1
SORGHUM	113.0	602.6	4,119.3	1.0	294.6	2,385.7	0.0	0.0
SOYBEANS	512.8	8,923.5	9,311.7	1,903.2	39,166.6	38,765.3	259.1	1,162.1
SOY MEAL	270.9	3,084.7	3,317.8	204.8	4,402.9	4,683.3	25.0	78.4
SOY OIL	8.3	26.0	171.5	0.5	25.6	351.5	0.0	0.6
RICE
L G RGH	33.7	150.8	299.3	55.4	304.9	728.0	0.0	0.0
M S RGH	24.1	33.1	9.4	1.3	17.4	4.3	0.0	0.0
L G BRN	-0.1	3.8	19.9	0.7	12.4	29.1	0.0	0.0
M&S BR	0.1	35.8	45.1	0.1	8.5	40.4	0.0	0.0
L G MLD	0.5	142.1	76.2	2.1	352.8	483.6	0.0	0.0
M S MLD	1.0	130.2	179.2	2.0	144.3	217.8	0.0	0.0
TOTAL	59.4	495.7	629.2	61.7	840.3	1,503.2	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	216.9	4,947.3	7,861.6	186.4	4,985.6	4,472.8	23.9	1,285.2
PIMA	2.0	43.6	197.6	6.9	90.0	205.3	0.0	3.5