FI Weekly USDA Export Sales Snapshot 03/30/23

PDF attached

 

Soybean meal sales were good and soybeans within expectations. SBO sales were low. Corn export sales were within expectations and wheat was poor.

 

 

 

Export Sales Highlights

  

This summary is based on reports from exporters for the period March 17-23, 2023. 

Wheat:  Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Increases primarily for Mexico (67,300 MT), the Philippines (34,400 MT), Colombia (13,400 MT, including decreases of 2,000 MT), Indonesia (10,000 MT), and the Dominican Republic (10,000 MT), were offset by reductions for unknown destinations (10,200 MT), Vietnam (5,000 MT), and Nicaragua (200 MT). Net sales of 37,400 MT for 2023/2024 were reported for the Dominican Republic (33,600 MT) and Guatemala (3,800 MT). Exports of 377,500 MT were up 4 percent from the previous week, but down 6 percent from the prior 4-week average. The destinations were primarily to Mexico (71,600 MT), unknown destinations (68,300 MT – late), South Korea (54,100 MT), Vietnam (33,600 MT), and the Philippines (31,400 MT). 

Late Reporting:  For 2022/2023, exports of 68,250 MT were late to unknown destinations. 

Corn:  Net sales of 1,036,400 MT for 2022/2023 were down 67 percent from the previous week and 34 percent from the prior 4-week average. Increases primarily for China (709,200 MT, including 66,000 MT switched from unknown destinations), Japan (162,900 MT, including 40,500 MT switched from unknown destinations), Colombia (122,400 MT, including 121,200 MT switched from unknown destinations and decreases of 37,200 MT), Mexico (103,100 MT, including decreases of 7,200 MT), and Costa Rica (53,000 MT, including decreases of 10,500 MT), were offset by reductions for unknown destinations (231,000 MT), Nicaragua (21,300 MT), and Taiwan (200 MT). Total net sales of 21,800 MT for 2023/2024 were for Mexico. Exports of 668,200 MT were down 52 percent from the previous week and 37 percent from the prior 4-week average. The destinations were primarily to Mexico (289,000 MT, including 34,800 – late), Colombia (145,300 MT), China (68,300 MT), Japan (40,900 MT), and the Dominican Republic (35,500 MT). 

Optional Origin Sales:  For 2022/2023, the current outstanding balance of 140,000 MT were for South Korea (100,000 MT) and Egypt (40,000 MT). 

Export Adjustments:  Accumulated exports of corn to Mexico were adjusted down 11,285 MT for week ending March 9th. This shipment was reported in error. 

Late Reporting:  For 2022/2023, exports of 34,827 MT were late to Mexico. 

Barley:  Total net sales reductions of 400 MT were for Japan. Exports of 200 MT were to Japan. 

Sorghum:  Net sales of 1,900 MT for 2022/2023 were down noticeably from the previous week and down 98 percent from the prior 4-week average. Increases primarily for China (56,900 MT, including 55,000 MT switched from unknown destinations and decreases of 1,800 MT), were offset by reductions for unknown destinations (55,000 MT). Exports of 176,100 MT–a marketing-year high–were up noticeably from the previous and from the prior 4-week average. The destinations were to China (175,900 MT) and Mexico (200 MT). 

Rice:  Net sales of 16,400 MT for 2022/2023 were up 10 percent from the previous week, but down 67 percent from the prior 4-week average. Increases were primarily for Saudi Arabia (8,500 MT), El Salvador (3,500 MT), Mexico (1,800 MT), Canada (1,100 MT), and Jordan (600 MT). Exports of 43,200 MT were up noticeably from the previous week, but down 25 percent from the prior 4-week average. The destinations were primarily to Colombia (29,100 MT), Saudi Arabia (8,600 MT), Canada (2,500 MT), Mexico (1,300 MT), and Jordan (700 MT).  

Soybeans:  Net sales of 348,200 MT for 2022/2023 were up noticeably from the previous week and up 36 percent from the prior 4-week average. Increases primarily for China (153,000 MT, including 132,000 MT switched from unknown destinations), the Netherlands (69,100 MT, including 62,000 MT switched from unknown destinations), Indonesia (67,000 MT, including 55,000 MT switched from unknown destinations), Germany (65,000 MT), and Egypt (64,900 MT, including decreases of 100 MT), were offset by reductions for unknown destinations (212,900 MT). Total net sales of 3,900 MT for 2023/2024 were for Japan. Exports of 1,039,000 MT were up 63 percent from the previous week and 48 percent from the prior 4-week average. The destinations were primarily to China (543,200 MT), Mexico (119,000 MT), Indonesia (74,100 MT), the Netherlands (69,100 MT), and Germany (65,000 MT). 

Optional Origin Sales:  For 2022/2023, the current outstanding balance of 300 MT, all South Korea. 

Export for Own Account:  For 2022/2023, 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 65,020 MT for week ending March 16th. The correct destination for this shipment is Germany.

Late Reporting:  For 2022/2023, net sales totaling 29,698 MT of soybeans were reported late for Taiwan (19,246 MT), Malaysia (5,000 MT), Vietnam (4,422 MT), and Bangladesh (1,030 MT). Exports of 29,230 MT were late to Taiwan (19,246 MT), Malaysia (4,532 MT), Vietnam (4,422 MT), and Bangladesh (1,000 MT). 

Soybean Cake and Meal:  Net sales of 377,900 MT for 2022/2023 were up noticeably from the previous week and up 81 percent from the prior 4-week average. Increases primarily for the Philippines (95,800 MT), Colombia (44,900 MT, including decreases of 1,000 MT), Costa Rica (36,400 MT, including 4,300 MT switched from Nicaragua, 3,000 MT switched from El Salvador, and decreases of 5,100 MT), Ecuador (33,900 MT), and Canada (32,700 MT), were offset by reductions for Honduras (1,500 MT), Belgium (400 MT), and Madagascar (100 MT). Total net sales of 10,000 MT for 2023/2024 were for Ireland. Exports of 240,400 MT were down 11 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to the Philippines (47,600 MT), Ecuador (31,900 MT), the Dominican Republic (28,500 MT), Venezuela (27,500 MT), and Canada (21,100 MT).  

Late Reporting:  For 2022/2023, net sales totaling 10,661 MT of soybean cake and meal were reported late for Sri Lanka (6,000 MT), Burma (2,000 MT), Qatar (1,000 MT), Indonesia (801 MT), Hong Kong (600 MT), and Liberia (260 MT). Exports of 9,949 MT were late to Sri Lanka (5,484 MT), Burma (1,995 MT), Qatar (997 MT), Indonesia (801 MT), Hong Kong (412 MT), and Liberia (260 MT). 

Soybean Oil:  Net sales of 2,000 MT for 2022/2023 were down 82 percent from the previous week and 66 percent from the prior 4-week average. Increases were reported for Mexico (1,500 MT) and Canada (500 MT). Exports of 400 MT were up 13 percent from the previous week, but down 8 percent from the prior 4-week average. The destination was Canada.  

Cotton:  Net sales of 281,300 RB for 2022/2023 were down 9 percent from the previous week, but up 37 percent from the prior 4-week average. Increases primarily for China (85,000 RB, including 2,100 RB switched from Singapore), Vietnam (78,200 RB, including 1,800 RB switched from South Korea), Bangladesh (38,300 RB, including decreases of 200 RB), Pakistan (24,900 RB, including decreases of 3,600 RB), and Turkey (19,000 RB), were offset by reductions primarily for Honduras (2,200 RB), Brazil (2,200 RB), Ecuador (2,200 RB), and Singapore (2,100 RB). Net sales of 12,300 RB for 2023/2024 were reported for India (8,800 RB) and Pakistan (3,500 RB). Exports of 341,000 RB were up 25 percent from the previous week and 31 percent from the prior 4-week average. The destinations were primarily to Vietnam (97,200 RB), China (67,200 RB), Turkey (40,500 RB), Pakistan (32,500 RB), and Malaysia (13,400 RB). Net sales of Pima totaling 10,100 RB for 2022/2023 were down 40 percent from the previous week, but up 37 percent from the prior 4-week average. Increases were primarily for Vietnam (4,200 RB, including 1,300 RB switched from China), India (2,300 RB), Pakistan (1,600 RB), Turkey (1,300 RB), and China (500 RB). Exports of 7,400 RB were up 4 percent from the previous week and up noticeably from the prior 4-week average. The destinations were primarily to Peru (2,900 RB), Egypt (1,300 RB), India (1,000 RB), China (900 RB), and Thailand (600 RB).   

Optional Origin Sales:  For 2022/2023, the current outstanding balance of 7,300 RB, all Malaysia.  

Export for Own Account:  For 2022/2023, new exports for own account totaling 22,800 RB were to China (19,700 RB) and Vietnam (3,100 RB). Exports for own account totaling 13,300 RB to Vietnam (12,000 RB) and China (1,300 RB) were applied to new or outstanding sales. The current exports for own account outstanding balance of 125,200 RB are for China (105,300 RB), Vietnam (7,300 RB), Pakistan (5,000 RB), Turkey (3,700 RB), South Korea (2,400 RB), and India (1,500 RB). 

Hides and Skins:  Net sales of 427,900 pieces for 2023 were up 30 percent from the previous week and 26 percent from the prior 4-week average. Increases primarily for China (323,700 whole cattle hides, including decreases of 13,100 pieces), South Korea (50,300 whole cattle hides, including decreases of 800 pieces), Mexico (46,000 whole cattle hides, including decreases of 2,400 pieces), Brazil (13,500 whole cattle hides, including decreases of 600 pieces), and Thailand (5,300 whole cattle hides, including decreases of 500 pieces), were offset by reductions primarily for Italy (13,600 pieces). In addition, net sales reductions of 400 kip skins were reported for Japan (200 kip skins) and Canada (200 kip skins). Exports of 437,700 pieces were up 11 percent from the previous week and 1 percent from the prior 4-week average. Whole cattle hides exports were primarily to China (254,000 pieces), Mexico (65,500 pieces), South Korea (62,600 pieces), Brazil (16,100 pieces), and Italy (14,900 pieces). Exports of 2,500 kip skins were to Canada (1,300 kip skins) and Japan (1,200 pieces). 

Net sales of 103,600 wet blues for 2023 were down 29 percent from the previous week and 20 percent from the prior 4-week average. Increases reported for Vietnam (54,300 unsplit), China (37,200 unsplit), Thailand (8,000 unsplit), Taiwan (2,400 unsplit), and Mexico (1,800 grain splits), were offset by reductions for Hong Kong (100 unsplit) and Brazil (100 grain splits). Exports of 89,800 wet blues were down 24 percent from the previous week and 36 percent from the prior 4-week average. The destinations were primarily to Italy (25,300 unsplit), China (19,000 unsplit), Vietnam (18,500 unsplit), Hong Kong (11,300 unsplit), and Thailand (7,700 unsplit). Total net sales of 700 splits were for Taiwan. Exports of 41,700 pounds were to Taiwan. 

Beef:  Net sales of 11,300 MT for 2023 were down 40 percent from the previous week and 10 percent from the prior 4-week average. Increases were primarily for Japan (2,700 MT, including decreases of 900 MT), China (2,500 MT, including decreases of 100 MT), Taiwan (1,700 MT, including decreases of 100 MT), South Korea (1,600 MT, including decreases of 400 MT), and Canada (700 MT). Exports of 16,600 MT were up 23 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to South Korea (5,100 MT), Japan (3,800 MT), China (2,200 MT), Mexico (1,300 MT), and Taiwan (1,100 MT). 

Pork:  Net sales of 30,400 MT for 2023 were down 20 percent from the previous week and 4 percent from the prior 4-week average. Increases were primarily for Mexico (14,600 MT, including decreases of 300 MT), Japan (4,100 MT, including decreases of 300 MT), Australia (2,200 MT), Canada (1,600 MT, including decreases of 500 MT), and South Korea (1,500 MT, including decreases of 600 MT). Exports of 32,400 MT were up 6 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Mexico (12,800 MT), China (4,600 MT), Japan (4,600 MT), South Korea (3,300 MT), and Canada (1,700 MT). 

U.S. EXPORT SALES FOR WEEK ENDING  3/23/2023  

	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	39.5	619.3	1,422.3	117.0	4,278.8	6,052.5	27.2	139.6
SRW	53.8	485.5	516.1	59.7	2,303.9	2,242.5	10.2	392.0
HRS	19.5	865.7	1,020.2	78.7	4,565.4	4,214.4	0.0	94.9
WHITE	38.8	689.6	512.4	121.6	3,839.1	2,816.5	0.0	43.2
DURUM	0.0	77.2	19.0	0.6	291.1	170.0	0.0	36.9
TOTAL	151.7	2,737.2	3,489.9	377.5	15,278.2	15,495.9	37.4	706.6
BARLEY	-0.4	3.3	5.7	0.2	8.2	14.7	0.0	6.0
CORN	1,036.4	16,722.3	21,473.8	668.2	19,243.8	32,180.3	21.8	1,974.2
SORGHUM	1.9	680.8	2,919.3	176.1	818.8	3,840.8	0.0	63.0
SOYBEANS	348.2	5,253.3	11,797.1	1,039.0	44,507.6	43,488.9	3.9	1,749.1
SOY MEAL	377.9	2,803.6	3,087.1	240.4	5,960.9	6,068.4	10.0	274.0
SOY OIL	2.0	42.9	186.0	0.4	33.1	447.3	0.0	0.6
RICE
L G RGH	3.5	132.8	227.2	29.1	455.2	942.0	0.0	0.0
M S RGH	1.0	32.3	3.3	0.0	20.6	10.9	0.0	5.0
L G BRN	0.0	5.0	16.4	0.2	15.1	33.6	0.0	0.0
M&S BR	0.0	35.7	43.9	0.1	8.9	42.5	0.0	0.0
L G MLD	10.0	103.0	71.9	11.7	454.0	573.6	0.0	0.0
M S MLD	1.8	140.9	239.2	2.2	181.3	260.9	0.0	13.0
TOTAL	16.4	449.8	602.0	43.2	1,135.0	1,863.4	0.0	18.0
COTTON		THOUSAND RUNNING BALES
UPLAND	281.3	4,898.6	7,573.8	341.0	6,561.8	6,623.5	12.3	1,372.3
PIMA	10.1	58.8	156.1	7.4	115.8	282.6	0.0	3.9