FI Weekly USDA Export Sales Snapshot 04/13/23

PDF attached

 

US PPI Final Demand (M/M) Mar: -0.5% (est 0.0%; prev -0.1%)

US PPI Ex Food And Energy (M/M) Mar: -0.1% (est 0.2%; prev 0.0%)

US PPI Final Demand (Y/Y) Mar: 2.7% (est 3.0%; prev 4.6%)

US PPI Ex Food And Energy (Y/Y) Mar: 3.4% (est 3.4%; prev 4.4%)

US Initial Jobless Claims Apr 8: 239K (est 235K; prev 228K)

US Continuing Claims Apr 1: 1810K (est 1835K; prev 1823K)

 

USDA export sales

Soybean and soybean meal export sales were within expectations but soybean oil for 2022-23 were negative 4,000 tons. Shipments were just below 200,000 tons for meal and only 1,700 tons were shipped for soybean oil. The soybean sales included many countries switching from unknown destinations. New-crop soybean sales of 66,000 tons were for China.

 

USDA export sales for corn of 527,700 tons were near the lower end of a range of expectations. Mexico and Japan were the primary buyers, China sales of 140,800 tons included 136,000 tons switched from unknown.

Pork sales were good at 27,100 tons. Sorghum sales of 65,000 tons were for China.

 

USDA export sales for all wheat of 135,700 tons old crop and 67,800 tons new-crop were near the lower end of a range of trade expectations.

 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  4/6/2023  

 

	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	46.2	595.7	1,334.1	65.8	4,374.2	6,214.4	12.4	122.0
SRW	-5.3	454.5	487.1	28.1	2,364.9	2,347.8	40.0	451.8
HRS	56.1	882.9	816.9	62.0	4,658.7	4,504.1	15.5	110.4
WHITE	35.1	603.3	438.6	95.9	3,970.6	2,905.7	0.0	43.2
DURUM	3.5	52.1	15.5	28.5	319.6	174.1	0.0	36.9
TOTAL	135.7	2,588.5	3,092.2	280.2	15,688.0	16,146.1	67.8	764.2
BARLEY	0.0	3.3	5.8	0.0	8.2	14.7	0.0	6.0
CORN	527.7	16,442.9	20,395.9	917.0	21,296.6	35,373.5	0.0	2,000.4
SORGHUM	65.0	692.9	2,538.3	52.4	871.7	4,219.8	0.0	63.0
SOYBEANS	364.5	4,530.5	11,507.4	684.0	45,750.3	45,128.2	66.0	1,766.9
SOY MEAL	255.2	2,742.5	2,961.7	198.5	6,522.5	6,435.0	37.5	343.5
SOY OIL	-0.4	67.4	145.2	1.7	35.7	500.4	0.0	0.6
RICE
L G RGH	16.8	114.4	179.3	22.3	501.4	1,002.7	0.0	0.0
M S RGH	0.0	32.3	2.7	0.0	20.6	11.4	0.0	5.0
L G BRN	0.4	4.9	6.1	0.2	15.7	44.2	0.0	0.0
M&S BR	0.0	35.7	23.9	0.0	9.0	62.6	0.0	0.0
L G MLD	17.5	182.5	83.7	8.3	480.1	604.4	0.0	0.0
M S MLD	1.0	127.6	237.0	2.6	198.7	265.8	0.0	13.0
TOTAL	35.7	497.4	532.8	33.5	1,225.5	1,991.0	0.0	18.0
COTTON		THOUSAND RUNNING BALES
UPLAND	143.2	4,617.6	6,906.6	334.6	7,146.5	7,412.8	11.1	1,399.4
PIMA	32.3	89.8	134.5	8.9	126.2	312.9	0.0	4.7

 

Export Sales Highlights

This summary is based on reports from exporters for the period March 31 – April 6, 2023.  

Wheat:  Net sales of 135,700 metric tons (MT) for 2022/2023 were down 30 percent from the previous week and 27 percent from the prior 4-week average. Increases primarily for the Philippines (43,000 MT), Mexico (32,000 MT, including decreases of 100 MT), Ecuador (30,300 MT, including decreases of 400 MT), Tunisia (28,500 MT, including 25,000 MT switched from unknown destinations), and Singapore (22,000 MT), were offset by reductions for Peru (40,000 MT), unknown destinations (17,000 MT), Venezuela (5,000 MT), and Nigeria (600 MT). Net sales of 67,800 MT for 2023/2024 were reported for Peru (40,000 MT) and Japan (27,800 MT). Exports of 280,200 MT were up 42 percent from the previous week and unchanged from the prior 4-week average. The destinations were primarily to Japan (66,600 MT), Thailand (57,900 MT), Vietnam (37,200 MT), Tunisia (28,500 MT), and Mexico (28,400 MT). 

Corn:  Net sales of 527,700 MT for 2022/2023 were down 58 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Mexico (291,000 MT, including decreases of 500 MT), Japan (166,800 MT, including 111,300 MT switched from unknown destinations), China (140,800 MT, including 136,000 MT switched from unknown destinations and decreases of 1,100 MT), Colombia (45,100 MT, including 34,000 MT switched from Panama, 5,000 MT switched from Honduras, and decreases of 113,100 MT), and unknown destinations (24,300 MT), were offset by reductions for South Korea (130,000 MT), Panama (34,000 MT), El Salvador (13,500 MT), Qatar (8,100 MT), and the Dominican Republic (3,800 MT). Exports of 917,000 MT were down 19 percent from the previous week and 15 percent from the prior 4-week average. The destinations were primarily to Mexico (279,700 MT), China (208,800 MT), Japan (161,800 MT), Colombia (159,200 MT), and the Dominican Republic (57,200 MT). 

Optional Origin Sales:  For 2022/2023, decreases of 50,000 MT were reported for South Korea.  

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

Sorghum:  Total net sales of 65,000 MT for 2022/2023 were unchanged from the previous  week, but down 11 percent from the prior 4-week average. The destination was China, including decreases of 1,000 MT. Exports of 52,400 MT were up noticeably from the previous week, but down 30 percent from the prior 4-week average. The destinations were to China (52,000 MT) and Mexico (400 MT). 

Rice:  Net sales of 35,700 MT for 2022/2023 were down 65 percent from the previous week and 11 percent from the prior 4-week average. Increases were primarily for Haiti (16,700 MT, including decreases of 300 MT), Honduras (12,000 MT), Venezuela (4,500 MT), Canada (1,500 MT), and Guatemala (300 MT). Exports of 33,500 MT were down 41 percent from the previous week, but up 7 percent from the prior 4-week average. The destinations were primarily to Honduras (22,000 MT), Haiti (6,700 MT), Canada (1,900 MT), South Korea (1,000 MT), and Mexico (700 MT).

 

Export Adjustments:  Accumulated exports of long grain, milled rice to Malta were adjusted down 15 MT for week ending March 30th. This shipment was reported in error.  

Soybeans:  Net sales of 364,500 MT for 2022/2023 were up noticeably from the previous week and up 17 percent from the prior 4-week average. Increases primarily for the Netherlands (150,100 MT, including 145,000 MT switched from unknown destinations), unknown destinations (122,500 MT), Japan (32,300 MT, including 28,900 MT switched from unknown destinations), Spain (21,200 MT, including decreases of 300 MT and 21,500 MT – late), and Indonesia (19,100 MT), were offset by reductions for Mexico (1,700 MT). Total net sales of 66,000 MT for 2023/2024 were for China. Exports of 684,000 MT were up 22 percent from the previous week, but down 9 percent from the prior 4-week average. The destinations were primarily to China (365,600 MT), the Netherlands (150,100 MT), Mexico (75,700 MT), Japan (35,200 MT), and Spain (21,200 MT – late).   

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 (1,400 MT) and Taiwan (200 MT). 

Late Reporting:  For 2022/2023, net sales totaling 21,500 MT of soybeans were reported late for Spain. Exports of 21,157 MT were late to Spain.

 

Soybean Cake and Meal:  Net sales of 255,200 MT for 2022/2023 were up 4 percent from the previous week and 6 percent from the prior 4-week average. Increases primarily for the Philippines (95,300 MT, including decreases of 100 MT), Vietnam (52,000 MT), Mexico (21,500 MT, including decreases of 100 MT), Costa Rica (17,400 MT, including decreases of 7,200 MT), and Nicaragua (13,200 MT, including decreases of 100 MT), were offset by reductions for Belgium (2,500 MT), Ecuador (2,000 MT), and Japan (500 MT). Total net sales of 37,500 MT for 2023/2024 were for Indonesia. Exports of 198,500 MT were down 45 percent from the previous week and 34 percent from the prior 4-week average. The destinations were primarily to the Philippines (52,300 MT), Colombia (45,700 MT, including 200 MT – late), Honduras (26,400 MT), Canada (22,200 MT), and Mexico (21,200 MT).

 

Late Reporting:  For 2022/2023, exports of 200 MT were late to Colombia.

 

Soybean Oil:  Total net sales reductions of 400 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. Decreases were for Canada. Exports of 1,700 MT were up 79 percent from the previous week and up noticeably from the prior 4-week average. The destinations were to Mexico (1,400 MT) and Canada (300 MT). 

 

Cotton:  Net sales of 143,200 RB for 2022/2023 were down 11 percent from the previous week and 41 percent from the prior 4-week average. Increases primarily for China (22,300 RB, including 1,500 RB switched from Indonesia and 100 RB switched from Singapore), Turkey (18,700 RB), India (17,700 RB), El Salvador (15,100 RB), and Bangladesh (13,700 RB), were offset by reductions for Singapore (200 RB). Net sales of 11,100 RB for 2023/2024 were reported for Turkey (8,800 RB) and Pakistan (2,300 RB). Exports of 334,600 RB were up 34 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to Vietnam (77,600 RB), China (68,100 RB), Pakistan (51,000 RB), Turkey (47,600 RB), and Indonesia (20,600 RB). Net sales of Pima totaling 32,300 RB for 2022/2023–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average. Increases were primarily for China (20,400 RB), India (6,000 RB, including decreases of 300 RB), Pakistan (3,900 RB), Vietnam (1,000 RB), and Turkey (400 RB). Exports of 8,900 RB–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to China (6,200 RB), Pakistan (1,200 RB), India (500 RB), Thailand (400 RB), and Indonesia (300 RB). 

 

Optional Origin Sales:  For 2022/2023, options were exercised to export 1,000 RB to Malaysia from the United States. The current outstanding balance of 5,800 RB, all Malaysia.  

Export for Own Account:  For 2022/2023, new exports for own account totaling 18,500 RB were to China (10,600 RB) and Vietnam (7,900 RB). Exports for own account totaling 5,200 RB primarily to Vietnam (4,100 RB) were applied to new or outstanding sales. The current exports for own account outstanding balance of 135,400 RB are for China (114,200 RB), Vietnam (11,100 RB), Pakistan (5,000 RB), South Korea (2,400 RB), India (1,500 RB), and Turkey (1,200 RB). 

Hides and Skins:  Net sales of 492,400 pieces for 2023 were up 73 percent from the previous week and 43 percent from the prior 4-week average. Increases primarily for China (315,600 whole cattle hides, including decreases of 11,200 pieces), Mexico (50,400 whole cattle hides, including decreases of 1,400 pieces), Brazil (44,500 whole cattle hides), South Korea (38,000 whole cattle hides, including decreases of 400 pieces), and Thailand (25,600 whole cattle hides, including decreases of 500 pieces), were offset by reductions for Vietnam (100 pieces) and Indonesia (100 pieces). In addition, total net sales of 800 kip skins were for Canada. Exports of 405,200 pieces were down 9 percent from the previous week and 6 percent from the prior 4-week average. Whole cattle hides exports were primarily to China (260,000 pieces), Mexico (49,900 pieces), South Korea (46,600 pieces), Turkey (12,700 pieces), and Thailand (11,200 pieces).  

Net sales of 48,300 wet blues for 2023 were down 63 percent from the previous week and 59 percent from the prior 4-week average. Increases primarily for Vietnam (29,800 unsplit), China (7,700 unsplit, including decreases of 1,900 unsplit), Italy (7,100 unsplit, including decreases of 100 unsplit), and South Korea (3,600 grain splits), were offset by reductions for Brazil (100 grain splits). Exports of 116,000 wet blues were down 11 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to China (38,200 unsplit), Vietnam (36,100 unsplit), Italy (20,300 unsplit), Mexico (3,600 grain splits and 1,700 unsplit), and Thailand (5,200 unsplit). Net sales of 1,800 splits were reported for Vietnam (1,300 pounds) and Hong Kong (500 pounds). No exports of splits were reported for the week.  

Beef:  Net sales of 8,700 MT for 2023 were down 36 percent from the previous week and 43 percent from the prior 4-week average. Increases primarily for South Korea (3,400 MT, including decreases of 400 MT), Japan (2,900 MT, including decreases of 400 MT), Mexico (1,200 MT, including decreases of 200 MT), Taiwan (500 MT, including decreases of 200 MT), and Chile (400 MT), were offset by reductions for Indonesia (700 MT), China (400 MT), and Brazil (100 MT). Exports of 15,900 MT were down 8 percent from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to South Korea (4,900 MT), Japan (3,700 MT), China (2,600 MT), Mexico (1,200 MT), and Taiwan (1,200 MT).

 

Pork:  Net sales of 27,100 MT for 2023 were down 49 percent from the previous week and 31 percent from the prior 4-week average. Increases were primarily for Japan (5,400 MT, including decreases of 100 MT), Mexico (5,300 MT, including decreases of 200 MT), China (3,900 MT, including decreases of 200 MT), South Korea (3,800 MT, including decreases of 500 MT), and Canada (2,100 MT, including decreases of 400 MT). Exports of 37,000 MT–a marketing-year high–were up 17 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to Mexico (13,500 MT), China (8,200 MT), Japan (4,300 MT), South Korea (3,400 MT), and Canada (1,700 MT).