FI Weekly USDA Export Sales Snapshot 05/04/23

PDF attached

 

USDA Export Sales were within expectations.

8 million bu per week needed to reach USDA’s soybean export projection, and 19.4 million for corn.

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING 4/27/2023

 

	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	53.6	565.9	861.6	63.7	4,543.8	6,639.6	42.0	215.1
SRW	69.1	395.9	314.0	81.0	2,518.7	2,558.4	112.0	587.8
HRS	65.5	764.9	686.1	104.3	4,983.0	4,789.9	73.6	312.5
WHITE	4.3	579.8	280.0	21.4	4,097.7	3,090.1	52.1	139.7
DURUM	18.6	112.6	0.5	18.6	340.1	195.5	0.0	36.9
TOTAL	211.1	2,419.1	2,142.2	288.9	16,483.2	17,273.5	279.7	1,292.0
BARLEY	0.0	3.5	5.7	0.3	8.5	14.8	0.0	6.0
CORN	-315.6	12,765.7	18,261.1	1,699.2	25,370.6	40,036.9	121.0	2,543.4
SORGHUM	1.2	495.7	1,924.3	112.3	1,099.1	4,880.8	0.0	63.0
SOYBEANS	289.7	3,633.9	11,020.0	561.2	47,069.6	47,291.8	67.0	1,836.8
SOY MEAL	179.6	2,490.7	2,664.9	238.8	7,251.9	7,221.4	-17.0	326.5
SOY OIL	14.0	60.1	136.4	20.6	57.4	528.7	0.0	0.6
RICE
L G RGH	30.1	162.3	134.0	8.6	524.7	1,089.6	0.0	0.0
M S RGH	0.0	32.5	8.7	0.3	23.0	12.2	0.0	5.0
L G BRN	0.1	3.9	5.8	0.6	16.6	45.4	0.0	0.0
M&S BR	0.0	21.2	9.8	0.0	23.7	77.3	0.0	0.0
L G MLD	14.6	133.3	92.0	17.3	559.4	626.5	0.0	0.0
M S MLD	1.7	113.7	212.6	14.7	217.4	301.0	0.0	13.0
TOTAL	46.6	466.8	463.0	41.5	1,364.7	2,152.1	0.0	18.0
COTTON		THOUSAND RUNNING BALES
UPLAND	231.3	4,003.8	6,130.8	414.0	8,248.6	8,592.5	26.9	1,483.4
PIMA	24.6	94.1	114.4	24.8	188.4	353.1	0.0	4.7

 

 

 

Export Sales Highlights

This summary is based on reports from exporters for the period April 21-27, 2023.

 

Wheat:  Net sales of 211,100 metric tons (MT) for 2022/2023 were up 36 percent from the previous week and 14 percent from the prior 4-week average. Increases primarily for Mexico (72,600 MT, including decreases of 1,100 MT), South Korea (32,000 MT, including decreases of 700 MT), the Dominican Republic (29,900 MT, including 32,000 MT switched from unknown destinations and decreases of 3,100 MT), Italy (29,200 MT), and Japan (27,000 MT), were offset by reductions primarily for Singapore (18,000 MT), Guatemala (14,000 MT), Colombia (6,400 MT), Peru (3,000 MT), and Nicaragua (400 MT). Net sales of 279,700 MT for 2023/2024 were primarily for unknown destinations (135,000 MT), South Korea (45,300 MT), Vietnam (36,000 MT), the Dominican Republic (19,000 MT), and Singapore (18,000 MT). Exports of 288,900 MT were down 5 percent from the previous week, but up 17 percent from the prior 4-week average. The destinations were primarily to Egypt (55,000 MT), Japan (43,600 MT), the Dominican Republic (39,900 MT), Mexico (36,500 MT), and Italy (18,200 MT).

 

Corn:  Net sales reductions of 315,600 MT for 2022/2023–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Japan (193,300 MT, including 88,500 MT switched from unknown destinations and decreases of 2,300 MT), Taiwan (74,400 MT, including 70,000 MT switched from China), Guatemala (37,000 MT, including 26,000 MT switched from Panama and decreases of 6,200 MT), Colombia (34,800 MT, including 5,000 MT switched from Honduras and decreases of 60,300 MT), and Mexico (28,700 MT, including decreases of 29,400 MT), were more than offset by reductions for China (562,800 MT), unknown destinations (168,800 MT), Panama (26,000 MT), South Korea (2,700 MT), and Hong Kong (100 MT). Net sales of 121,000 MT for 2023/2024 were reported for Mexico (97,300 MT), El Salvador (20,000 MT), and Costa Rica (3,700 MT). Exports of 1,699,200 MT–a marketing-year high–were up 58 percent from the previous week and 54 percent from the prior 4-week average. The destinations were primarily to Japan (591,800 MT), Mexico (401,500 MT), China (201,800 MT), Colombia (175,900 MT), and Taiwan (75,300 MT).

 

Barley:  No net sales were reported for the week. Exports of 300 MT were to South Korea.

 

Sorghum:  Net sales of 1,200 MT for 2022/2023 were down noticeably from the previous week and down 95 percent from the prior 4-week average. Increases reported for China (56,200 MT, including 55,000 MT switched from unknown destinations and decreases of 300 MT), were offset by reductions for unknown destinations (55,000 MT). Exports of 112,300 MT were up noticeably from the previous week and from the prior 4-week average. The destination was to China.

 

Rice:  Net sales of 46,600 MT for 2022/2023 were down 10 percent from the previous week and 7 percent from the prior 4-week average. Increases were primarily for Mexico (30,200 MT), Haiti (11,500 MT, including decreases of 200 MT), Saudi Arabia (2,700 MT), Japan (1,200 MT), and Canada (300 MT, including decreases of 400 MT). Exports of 41,500 MT were down 48 percent from the previous week and 12 percent from the prior 4-week average. The destinations were primarily to Haiti (15,100 MT), Japan (13,100 MT), Honduras (5,600 MT), Mexico (3,600 MT), and Canada (3,100 MT).

 

Soybeans:  Net sales of 289,700 MT for 2022/2023 were down 7 percent from the previous week, but up 78 percent from the prior 4-week average. Increases primarily for China (134,300 MT, including 132,000 MT switched from unknown destinations and decreases of 900 MT), Germany (128,300 MT), the Netherlands (85,500 MT, including 77,000 MT switched from unknown destinations), Japan (48,500 MT, including 9,000 MT switched from unknown destinations), and Costa Rica (32,200 MT), were offset by reductions primarily for unknown destinations (217,800 MT). Total net sales of 67,000 MT for 2023/2024 were for China. Exports of 561,200 MT were up 24 percent from the previous week and 12 percent from the prior 4-week average. The destinations were primarily to China (190,800 MT), Germany (128,300 MT), the Netherlands (85,500 MT), Mexico (40,500 MT), and South Korea (25,500 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 (1,400 MT) and Taiwan (200 MT).

 

Export Adjustments:  Accumulated exports of soybeans to the Netherlands were adjusted down 84,875 MT for week ending April 6th and 128,291 MT for week ending April 13th. The correct destination for these shipments is Germany.

 

Soybean Cake and Meal:  Net sales of 179,600 MT for 2022/2023 were up 17 percent from the previous week, but down 10 percent from the prior 4-week average. Increases primarily for Morocco (31,600 MT), the Dominican Republic (30,300 MT, including decreases of 16,700 MT), Mexico (26,800 MT, including decreases of 600 MT), Saudi Arabia (25,000 MT), and Canada (24,700 MT), were offset by reductions for Panama (7,000 MT), Guatemala (5,100 MT), Honduras (300 MT), and Venezuela (200 MT). Net sales reductions of 17,000 MT for 2023/2024 resulting in increases for Canada (3,000 MT), were more than offset by reductions for Ecuador (20,000 MT). Exports of 238,800 MT were down 5 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to Colombia (52,200 MT), the Philippines (47,800 MT), the Dominican Republic (27,500 MT), Mexico (22,200 MT), and El Salvador (18,900 MT).

 

Soybean Oil:  Net sales of 14,000 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases reported for Spain (20,000 MT switched from unknown destinations), Mexico (13,500 MT), and Canada (500 MT), were offset by reductions for unknown destinations (20,000 MT). Exports of 20,600 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average. The destinations were to Spain (20,000 MT), Canada (500 MT), and Mexico (100 MT). 

 

Cotton:  Net sales of 231,300 RB for 2022/2023 were up 19 percent from the previous week and 65 percent from the prior 4-week average. Increases primarily for China (117,100 RB, including 400 RB switched from Pakistan), Vietnam (43,500 RB, including 200 RB switched from Taiwan and decreases of 1,600 RB), Turkey (34,800 RB), Bangladesh (17,100 RB, including decreases of 200 RB), and Nicaragua (8,800 RB), were offset by reductions for Honduras (8,300 RB), Mexico (2,500 RB), and Pakistan (1,500 RB). Net sales of 26,900 RB for 2023/2024 were primarily for Turkey (12,800 RB) and Honduras (8,300 RB). Exports of 414,000 RB were up 4 percent from the previous week and 30 percent from the prior 4-week average. The destinations were primarily to China (107,200 RB), Vietnam (94,200 RB), Turkey (62,000 RB), Pakistan (43,500 RB), and Bangladesh (21,700 RB). Net sales of Pima totaling 24,600 RB for 2022/2023 were up 48 percent from the previous week and 18 percent from the prior 4-week average. Increases were primarily for India (12,900 RB, including decreases of 200 RB), China (8,400 RB, including decreases of 6,100 RB), Vietnam (1,300 RB), Egypt (900 RB), and Turkey (500 RB). Exports of 24,800 RB–a marketing-year high–were up 20 percent from the previous week and up noticeably from the prior 4-week average. The destinations were primarily to China (9,600 RB), Vietnam (5,200 RB), India (4,400 RB), Pakistan (3,500 RB), and Thailand (900 RB). 

 

Optional Origin Sales:  For 2022/2023, the current outstanding balance of 1,100 RB, all Malaysia.

 

Export for Own Account:  For 2022/2023, new exports for own account totaling 3,300 RB were to Vietnam. Exports for own account totaling 35,600 RB to China were applied to new or outstanding sales. Decreases of 200 RB were to China. The current exports for own account outstanding balance of 109,600 RB are for China (80,300 RB), Vietnam (19,200 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 382,300 pieces for 2023 were up 2 percent from the previous week, but down 2 percent from the prior 4-week average. Increases primarily for China (301,800 whole cattle hides, including decreases of 12,100 pieces), South Korea (33,600 whole cattle hides, including decreases of 1,000 pieces), Mexico (26,700 whole cattle hides, including decreases of 3,900 pieces), Japan (11,600 whole cattle hides, including decreases of 100 pieces), and Taiwan (5,700 whole cattle hides), were offset by reductions for Indonesia (400 pieces), Spain (300 pieces), Thailand (200 pieces), and Brazil (200 pieces). In addition, total net sales of 3,000 kip skins, including decreases of 400 kip skins were for China. Exports of 369,300 pieces were down 5 percent from the previous week and 10 percent from the prior 4-week average. Whole cattle hides exports were primarily to China (248,100 pieces), Mexico (55,000 pieces), South Korea (32,000 pieces), Brazil (8,200 pieces), and Thailand (5,500 pieces). Exports of 2,500 kip skins were to China.

 

Net sales of 157,500 wet blues for 2023 were up noticeably from the previous week and up 19 percent from the prior 4-week average. Increases primarily for Hong Kong (81,000 unsplit), China (37,900 unsplit, including decreases of 8,000 unsplit), Italy (15,900 unsplit, including decreases of 100 unsplit), Vietnam (15,600 unsplit, including decreases of 7,200 unsplit), and the Dominican Republic (6,500 unsplit), were offset by reductions for Brazil (200 grain splits) and India (100 grain splits). Exports of 84,700 wet blues were down 15 percent from the previous week and 30 percent from the prior 4-week average. The destinations were primarily to Vietnam (33,700 unsplit), Italy (19,900 unsplit), China (11,900 unsplit), Hong Kong (8,000 unsplit), and Mexico (5,200 unsplit). Net sales of 307,700 splits primarily for Vietnam (306,100 pounds, including decreases of 3,000 pounds), were offset by reductions for South Korea (2,100 pounds). Exports of 241,000 pounds were to Taiwan (85,100 pounds), China (82,600 pounds), and Vietnam (73,300 pounds).

 

Beef:  Net sales of 20,100 MT for 2023 were up noticeably from the previous week and up 59 percent from the prior 4-week average. Increases primarily for Japan (4,700 MT, including decreases of 200 MT), South Korea (3,600 MT, including decreases of 500 MT), China (3,400 MT, including decreases of 100 MT), Taiwan (2,500 MT, including decreases of 100 MT), and Mexico (2,000 MT), were offset by reductions for the United Kingdom (100 MT). Exports of 18,800 MT were up 18 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to Japan (5,200 MT), South Korea (4,800 MT), China (3,500 MT), Taiwan (1,300 MT), and Mexico (1,200 MT).

 

Pork:  Net sales of 49,000 MT for 2023 were down 9 percent from the previous week, but up 15 percent from the prior 4-week average. Increases were primarily for Mexico (14,600 MT, including decreases of 600 MT), China (14,200 MT, including decreases of 200 MT), South Korea (7,700 MT, including decreases of 800 MT), Japan (3,400 MT, including decreases of 300 MT), and Canada (2,700 MT, including decreases of 400 MT). Exports of 38,600 MT–a marketing-year high–were up 2 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to Mexico (15,100 MT), China (5,800 MT), Japan (4,700 MT), South Korea (4,100 MT), and Canada (1,700 MT).