FI Weekly USDA Export Sales Snapshot 05/25/23

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Big soybean meal sales this week. Increases were primarily for Poland (100,000 MT), unknown destinations (46,500 MT), Colombia (45,700 MT).  Soybean sales were 115,000 tons and soybean oil improved to 6,200 tons. Old crop corn net reduction was not as bad as traders expected. China cancelled 331,600 tons of corn and unknown was reduced by 216,700 tons. This and other cancelations were partially offset by a 216,100-ton increase by Mexico. All wheat sales for 2023-24 were 245,100 tons with Japan as largest buyer. Sorghum sales were 5,700 tons and pork 29,200 tons.

 

 

 

 

Export Sales Highlights 

This summary is based on reports from exporters for the period May 12-18, 2023.

 

Wheat:  Net sales reductions of 45,100 metric tons (MT) for 2022/2023–a marketing-year low–were up 7 percent from the previous week, but down noticeably from the prior 4-week average. Increases primarily for China (68,000 MT, including 65,000 MT switched from unknown destinations), Nigeria (15,900 MT, including 15,000 MT switched from unknown destinations), Ecuador (9,600 MT), South Korea (2,200 MT), and Colombia (700 MT, including decreases of 6,600 MT), were more than offset by reductions primarily for Japan (63,100 MT), unknown destinations (59,400 MT), and the Philippines (16,000 MT). Net sales of 245,100 MT for 2023/2024 were primarily for Japan (143,900 MT), Guatemala (45,700 MT), the Philippines (22,000 MT), Honduras (14,000 MT), and Mexico (10,200 MT). Exports of 386,300 MT were up 78 percent from the previous week and 53 percent from the prior 4-week average. The destinations were primarily to Mexico (68,700 MT), China (68,000 MT), the Philippines (66,000 MT), Taiwan (51,400 MT), and Japan (36,300 MT).

 

Corn:  Net sales reductions of 75,200 MT for 2022/2023 were down 78 percent from the previous week and down noticeably from the prior 4-week average. Increases primarily for Mexico (216,100 MT, including decreases of 100 MT), Japan (185,700 MT, including 194,800 MT switched from unknown destinations and decreases of 10,900 MT), Morocco (19,800 MT, including 18,000 MT switched from unknown destinations), Jamaica (18,100 MT), and Taiwan (10,900 MT), were more than offset by reductions for China (331,600 MT), unknown destinations (216,700 MT), Honduras (3,600 MT), and Colombia (1,200 MT). Net sales of 52,100 MT for 2023/2024 were reported for Canada (25,400 MT), Honduras (23,400 MT), unknown destinations (3,000 MT), and Guatemala (300 MT). Exports of 1,502,800 MT were up 38 percent from the previous week and 20 percent from the prior 4-week average. The destinations were primarily to Japan (511,300 MT), China (377,400 MT), Mexico (263,300 MT), Colombia (171,100 MT), and Guatemala (70,00 MT).

 

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

Sorghum:  Net sales of 5,700 MT for 2022/2023 were down noticeably from the previous week and down 50 percent from the prior 4-week average. Increases reported for China (115,700 MT, including 110,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (110,000 MT). Exports of 115,800 MT were up noticeably from the previous week and up 70 percent from the prior 4-week average. The destination was to China. 

Rice:  Net sales of 30,300 MT for 2022/2023 were down noticeably from the previous week, but up 25 percent from the prior 4-week average. Increases were primarily for Haiti (15,100 MT, including decreases of 11,900 MT), the United Kingdom (6,900 MT), Honduras (5,600 MT), Canada (1,300 MT), and Mexico (600 MT). Exports of 22,300 MT were down 60 percent from the previous week and 52 percent from the prior 4-week average. The destinations were primarily to Haiti (15,100 MT), Mexico (4,200 MT), Canada (2,000 MT), Saudi Arabia (500 MT), and the Bahamas (200 MT).  

Soybeans:  Net sales of 115,000 MT for 2022/2023 were up noticeably from the previous week, but down 26 percent from the prior 4-week average. Increases primarily for Germany (57,700 MT), Japan (53,500 MT, including 52,200 MT switched from unknown destinations), China (25,000 MT), Indonesia (6,600 MT, including decreases of 100 MT), and Malaysia (5,000 MT), were offset by reductions for unknown destinations (37,700 MT), the Dominican Republic (500 MT), Egypt (200 MT), and Taiwan (100 MT). Net sales of 1,100 MT for 2023/2024 resulting in increases for Mexico (4,000 MT) and Taiwan (200 MT), were offset by reductions for Japan (3,100 MT). Exports of 287,300 MT were up 52 percent from the previous week, but down 26 percent from the prior 4-week average. The destinations were primarily to Japan (61,000 MT), Germany (57,700 MT), Egypt (56,800 MT – late), Mexico (37,800 MT), and Indonesia (22,300 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). 

Late Reporting:  For 2022/2023, exports of 56,773 MT of soybeans were late to Egypt.

 

Export Adjustments:  Accumulated exports of soybeans to the Netherlands were adjusted down 57,723 MT for week ending May 4th. The correct destination for this shipment is Germany.

 

Soybean Cake and Meal:  Net sales of 341,300 MT for 2022/2023 were up 69 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Poland (100,000 MT), unknown destinations (46,500 MT), Colombia (45,700 MT, including decreases of 2,400 MT), Mexico (23,300 MT, including decreases of 15,900 MT), and Guatemala (19,400 MT), were offset by reductions for Belgium (2,400 MT) and the Dominican Republic (400 MT). Net sales of 50,600 MT for 2023/2024 were primarily for Canada (30,500 MT) and Guatemala (12,200 MT). Exports of 226,000 MT were down 21 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to Vietnam (54,400 MT), Colombia (45,900 MT), Mexico (33,800 MT), Canada (33,300 MT), and Panama (12,900 MT).

 

Soybean Oil:  Net sales of 6,200 MT for 2022/2023 were up noticeably from the previous week and up 62 percent from the prior 4-week average. Increases were reported for Jamaica (3,500 MT), Mexico (2,500 MT), and Canada (200 MT). Exports of 700 MT were down 84 percent from the previous week and 89 percent from the prior 4-week average. The destination was to Canada. 

 

Cotton:  Net sales of 131,200 RB for 2022/2023 were down 1 percent from the previous week and 35 percent from the prior 4-week average. Increases primarily for China (64,800 RB, including decreases of 1,900 RB), Vietnam (30,400 RB, including 2,700 RB switched from China, 400 RB switched from Japan, and 200 RB switched from South Korea), Turkey (11,700 RB, including decreases of 4,700 RB), Bangladesh (9,000 RB, including decreases of 200 RB), and Pakistan (3,800 RB, including decreases of 400 RB), were offset by reductions for South Korea (200 RB), Mexico (200 RB), Guatemala (100 RB), and Nicaragua (100 RB). Net sales of 84,300 RB for 2023/2024 were reported for Turkey (54,600 RB), Mexico (24,000 RB), China (4,400 RB), Indonesia (900 RB), and Thailand (400 RB). Exports of 268,700 RB were down 19 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to Vietnam (68,100 RB), Turkey (67,300 RB), Pakistan (38,500 RB), China (22,400 RB), and Bangladesh (16,900 RB). Net sales of Pima totaling 3,300 RB for 2022/2023 were down 65 percent from the previous week and 80 percent from the prior 4-week average. Increases reported for Vietnam (1,800 RB, including 100 RB switched from Japan), India (800 RB), Turkey (500 RB), Pakistan (200 RB), and Thailand (100 RB switched from Japan), were offset by reductions for Japan (200 RB) and Guatemala (100 RB). Exports of 13,500 RB were down 7 percent from the previous week and 33 percent from the prior 4-week average. The destinations were primarily to India (5,200 RB), China (3,300 RB), Vietnam (2,300 RB), Egypt (900 RB), and Djibouti (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, exports for own account totaling 600 RB to Vietnam were applied to new or outstanding sales. The current exports for own account outstanding balance of 112,200 RB are for China (80,600 RB), Vietnam (21,500 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 451,000 pieces for 2023 were up 8 percent from the previous week and 2 percent from the prior 4-week average. Increases primarily for China (339,100 whole cattle hides, including decreases of 15,300 pieces), Mexico (51,100 whole cattle hides, including decreases of 900 pieces), South Korea (34,300 whole cattle hides, including decreases of 300 pieces), Thailand (18,700 whole cattle hides, including decreases of 900 pieces), and Turkey (4,600 whole cattle hides), were offset by reductions for Italy (400 pieces) and Brazil (200 pieces). Exports of 492,600 pieces were up 42 percent from the previous week and 34 percent from the prior 4-week average. Whole cattle hides exports were primarily to China (328,000 pieces), Mexico (58,800 pieces), South Korea (49,000 pieces), Thailand (14,700 pieces), and Brazil (11,100 pieces).

 

Net sales of 105,900 wet blues for 2023 were down 42 percent from the previous week and 1 percent from the prior 4-week average. Increases were primarily for Italy (57,200 unsplit), Vietnam (18,300 unsplit), China (10,000 unsplit, including decreases of 100 unsplits), Mexico (8,900 unsplit), and Thailand (8,000 unsplit). Exports of 145,500 wet blues were up 17 percent from the previous week and 36 percent from the prior 4-week average. The destinations were primarily to Italy (39,400 unsplit), Vietnam (23,900 unsplit and 4,000 grain splits), China (26,700 unsplit), Thailand (16,200 unsplit), and Brazil (11,000 unsplit and 1,900 grain splits). Net sales of 45,400 splits were reported for China (41,000 pounds) and Vietnam (4,400 pounds, including decreases of 200 pounds). Exports of 39,900 pounds were to Vietnam.

 

Beef:  Net sales of 18,300 MT for 2023 were up 5 percent from the previous week and 15 percent from the prior 4-week average. Increases were primarily for Japan (5,500 MT, including decreases of 400 MT), South Korea (3,800 MT, including decreases of 400 MT), China (2,500 MT, including decreases of 100 MT), Mexico (2,200 MT, including decreases of 100 MT), and Taiwan (1,200 MT, including decreases of 100 MT). Exports of 16,500 MT were down 10 percent from the previous week and 3 percent from the prior 4-week average. The destinations were primarily to South Korea (4,700 MT), Japan (4,100 MT), China (2,300 MT), Mexico (1,400 MT), and Canada (1,300 MT).

 

Pork:  Net sales of 29,200 MT for 2023 were down 8 percent from the previous week and 29 percent from the prior 4-week average. Increases were primarily for Mexico (14,400 MT, including decreases of 300 MT), Japan (4,400 MT, including decreases of 100 MT), South Korea (4,400 MT, including decreases of 600 MT), Colombia (1,200 MT), and the Dominican Republic (1,100 MT, including decreases of 100 MT). Exports of 38,500 MT were up 5 percent from the previous week and 3 percent from the prior 4-week average. The destinations were primarily to Mexico (16,900 MT), China (4,600 MT), Japan (4,300 MT), South Korea (3,200 MT), and Australia (2,100 MT).

 

 

 U.S. EXPORT SALES FOR WEEK ENDING 5/18/2023   

  

	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	13.6	365.3	490.8	34.8	4,757.9	6,982.6	55.3	426.8
SRW	7.5	272.2	138.5	50.8	2,635.4	2,731.6	50.2	802.0
HRS	-5.6	564.8	480.4	109.7	5,183.6	5,045.1	62.2	587.0
WHITE	-60.7	290.1	168.5	157.4	4,319.9	3,202.2	77.4	354.9
DURUM	0.2	58.8	0.5	33.6	393.4	195.9	0.0	36.9
TOTAL	-45.1	1,551.2	1,278.6	386.3	17,290.2	18,157.4	245.1	2,207.5
BARLEY	0.0	3.5	5.2	0.0	8.5	15.3	0.0	6.0
CORN	-75.2	8,873.4	14,335.4	1,502.8	29,106.0	44,720.6	52.1	2,752.5
SORGHUM	5.7	327.3	1,225.3	115.8	1,318.5	5,536.1	0.0	63.0
SOYBEANS	115.0	2,940.5	10,224.8	287.3	47,899.4	49,194.2	1.1	2,551.7
SOY MEAL	341.3	2,613.0	2,681.7	226.0	7,951.3	7,839.4	50.6	455.0
SOY OIL	6.2	61.9	111.4	0.7	62.9	559.9	0.0	0.6
RICE
L G RGH	5.6	138.5	142.1	2.5	573.4	1,110.0	0.0	6.0
M S RGH	0.0	33.2	8.1	0.0	23.8	12.9	0.0	5.0
L G BRN	3.2	6.1	5.1	0.6	17.9	48.5	0.0	0.0
M&S BR	0.5	21.6	9.9	0.1	23.9	77.5	0.0	0.0
L G MLD	19.8	120.5	88.7	17.8	587.7	666.1	0.0	40.0
M S MLD	1.1	89.9	185.2	1.3	224.1	333.1	0.0	40.2
TOTAL	30.3	409.8	439.1	22.3	1,450.9	2,248.2	0.0	91.2
COTTON		THOUSAND RUNNING BALES
UPLAND	131.2	3,581.8	5,280.1	268.7	9,181.1	9,618.7	84.3	1,608.5
PIMA	3.3	73.7	98.9	13.5	236.8	377.2	0.0	4.7