FI Weekly USDA Export Sales Snapshot 06/15/23

PDF attached

 

USDA export sales were near the upper end of expectations for soybeans for old crop and below expectations for new crop. Old crop soybean sales included 218,700 tons for Spain. Soybean meal and soybean oil sales were withing a range of expectations. Soybean meal and oil shipments were good. Corn export sales were a positive 273,300 tons for old crop, up from 172,700 tons previous week and all-wheat sales were a low 165,000 tons. For corn, Japan and Mexico were the largest takers. Sorghum sales were 114,200 tons, with most for China. Pork sales were 26,700 tons with Mexico taking 10,700 tons.

 

 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING 6/8/2023 

  

	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	72.1	679.5	1,125.2	66.6	120.0	217.5	0.0	0.0
SRW	56.6	1,130.9	897.8	2.0	28.7	87.3	0.0	0.0
HRS	-4.5	1,055.0	1,285.9	63.6	145.5	169.2	0.0	0.0
WHITE	40.7	551.6	840.3	117.5	145.6	108.2	0.0	0.0
DURUM	0.0	94.4	64.4	0.0	0.0	0.0	0.0	0.0
TOTAL	165.0	3,511.3	4,213.6	249.7	439.9	582.2	0.0	0.0
BARLEY	7.0	16.3	12.8	0.0	0.0	1.0	0.0	0.0
CORN	273.3	5,633.9	10,594.1	1,192.6	32,978.1	49,069.0	21.1	2,979.4
SORGHUM	114.2	498.3	783.3	52.1	1,458.0	6,023.1	0.0	63.2
SOYBEANS	478.4	3,129.8	9,491.9	141.3	48,519.1	50,648.8	48.5	3,165.9
SOY MEAL	207.7	2,674.3	2,638.3	273.8	8,680.6	8,462.3	18.2	625.1
SOY OIL	2.0	41.7	87.9	9.6	86.6	595.1	-0.1	3.8
RICE
L G RGH	-1.0	87.0	82.7	16.2	639.5	1,216.5	1.4	23.4
M S RGH	0.0	32.1	7.4	0.6	26.0	13.5	0.0	5.0
L G BRN	0.4	5.8	4.7	0.1	18.8	49.5	0.0	0.0
M&S BR	0.0	6.8	9.9	14.8	38.7	77.7	0.0	0.0
L G MLD	8.6	94.7	93.2	8.6	632.1	715.4	0.0	40.0
M S MLD	0.9	75.3	156.0	0.9	241.1	367.3	0.0	40.2
TOTAL	9.0	301.7	353.9	41.2	1,596.2	2,439.9	1.4	108.6
COTTON		THOUSAND RUNNING BALES
UPLAND	98.9	3,584.2	4,764.1	244.8	10,025.8	10,774.6	65.7	1,781.6
PIMA	2.0	42.8	68.0	0.3	272.5	409.8	0.0	4.7

 

 

Export Sales Highlights 

This summary is based on reports from exporters for the period June 2-8, 2023.

 

Wheat:  Net sales of 165,000 metric tons (MT) for 2023/2024 primarily for Mexico (47,600 MT, including decreases of 400 MT), Vietnam (42,000 MT switched from unknown destinations), Chile (30,000 MT), the Philippines (26,300 MT), and Ecuador (20,000 MT), were offset by reductions for Colombia (10,000 MT), unknown destinations (8,000 MT), and Honduras (6,000 MT). Exports of 249,700 MT were primarily to Mexico (60,200 MT), Taiwan (57,000 MT), the Philippines (56,600 MT), Yemen (53,800 MT), and Colombia (14,500 MT). 

 

Corn:  Net sales of 273,300 MT for 2022/2023 were up 58 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for Japan (173,300 MT, including 160,500 MT switched from unknown destinations and decreases of 7,700 MT), Mexico (157,700 MT, including 31,000 MT switched from unknown destinations and decreases of 2,200 MT), Colombia (113,700 MT, including 91,000 MT switched from unknown destinations and decreases of 17,700 MT), Honduras (60,200 MT, including 7,500 MT switched from Nicaragua and decreases of 5,200 MT), and Guatemala (19,600 MT), were offset by reductions for unknown destinations (279,500 MT), Nicaragua (7,500 MT), the French West Indies (7,300 MT), and China (600 MT). Net sales of 21,100 MT for 2023/2024 were primarily for Honduras (9,800 MT) and Canada (8,200 MT). Exports of 1,192,600 MT were down 4 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to Mexico (367,000 MT), Japan (304,500 MT), China (204,500 MT), Colombia (139,600 MT), and South Korea (67,600 MT).

 

Barley:  Total net sales of 7,000 MT for 2023/2024 were for Mexico. No exports were reported for the week. 

Sorghum:  Net sales of 114,200 MT for 2022/2023 were up 75 percent from the previous week and up noticeably from the prior 4-week average. Increases were reported for China (109,200 MT, including decreases of 1,400 MT and 55,000 MT – late) and Mexico (5,000 MT). Exports of 52,100 MT were up 3 percent from the previous week, but down 19 percent from the prior 4-week average. The destination was to China. 

Late Reporting:  For 2022/2023, net sales totaling 55,000 MT of sorghum were reported late for China.

 

Rice:  Net sales of 9,000 MT for 2022/2023 were down 21 percent from the previous week, but up 34 percent from the prior 4-week average. Increases primarily for Haiti (7,000 MT), Mexico (1,900 MT), Canada (1,100 MT), the Netherlands (200 MT), and the Bahamas (100 MT), were offset by reductions for Colombia (1,400 MT). Total net sales of 1,400 MT for 2023/2024 were for Honduras. Exports of 41,200 MT were down 42 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to Colombia (14,800 MT), South Korea (14,600 MT), the Dominican Republic (6,000 MT), Mexico (3,500 MT), and Canada (1,500 MT).  

Soybeans:  Net sales of 478,400 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for Spain (218,700 MT, including 50,000 MT switched from unknown destinations), unknown destinations (92,400 MT), Mexico (86,500 MT, including decreases of 200 MT), Indonesia (31,400 MT, including decreases of 900 MT), and Japan (20,100 MT, including decreases of 300 MT), were offset by reductions for South Korea (2,500 MT). Net sales of 48,500 MT for 2023/2024 were reported for Mexico (43,500 MT) and Taiwan (5,000 MT). Exports of 141,300 MT were down 43 percent from the previous week and 41 percent from the prior 4-week average. The destinations were primarily to Spain (53,700 MT), Mexico (33,900 MT), Indonesia (18,400 MT), Venezuela (11,000 MT), and China (7,600 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 1,700 MT are for Canada (1,400 MT) and Taiwan (300 MT). 

Soybean Cake and Meal:  Net sales of 207,700 MT for 2022/2023 were up 17 percent from the previous week, but down 26 percent from the prior 4-week average. Increases primarily for Mexico (51,700 MT, including decreases of 1,900 MT), Canada (33,200 MT), unknown destinations (23,500 MT), Colombia (19,100 MT, including 10,000 MT switched from unknown destinations), and Honduras (17,900 MT, including 6,000 MT switched from El Salvador, 600 MT switched from Costa Rica, and decreases of 8,500 MT), were offset by reductions for Poland (18,800 MT), El Salvador (6,000 MT), Trinidad and Tobago (3,400 MT), Belgium (1,300 MT), and Costa Rica (600 MT). Total net sales of 18,200 MT for 2023/2024 were for Canada. Exports of 273,800 MT were up 40 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to the Philippines (52,300 MT), Mexico (36,500 MT), Ecuador (31,900 MT), Poland (31,200 MT), and Colombia (25,100 MT).

 

Soybean Oil:  Net sales of 2,000 MT for 2022/2023 were down noticeably from the previous week and down 6 percent from the prior 4-week average. Increases reported for Mexico (1,100 MT) and Canada (1,000 MT), were offset by reductions for Sri Lanka (100 MT). Total net sales reductions of 100 MT for 2023/2024 were for Mexico. Exports of 9,600 MT were up noticeably from the previous week and up 99 percent from the prior 4-week average. The destinations were to Mexico (9,100 MT) and Canada (500 MT).

 

Cotton:  Net sales of 98,900 RB for 2022/2023 were down 79 percent from the previous week and 61 percent from the prior 4-week average. Increases primarily for China (70,500 RB, including decreases of 1,000 RB), Bangladesh (11,700 RB), Vietnam (9,900 RB, including 3,600 RB switched from Macau, 500 RB switched from Japan, 300 RB switched from China, and decreases of 800 RB), Indonesia (4,500 RB, including 300 RB switched from Japan), and Taiwan (2,900 RB), were offset by reductions for Macau (3,600 RB) and Pakistan (500 RB). Net sales of 65,700 RB for 2023/2024 were primarily for China (63,800 RB) and Turkey (1,800 RB). Exports of 244,800 RB were down 23 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to Turkey (64,000 RB), Vietnam (39,100 RB), Pakistan (38,000 RB), China (25,400 RB), and Bangladesh (16,400 RB). Net sales of Pima totaling 2,000 RB for 2022/2023 were down 4 percent from the previous week and 48 percent from the prior 4-week average. Increases primarily for Egypt (1,300 RB), Pakistan (400 RB), and Brazil (200 RB), were offset by reductions for Colombia (100 RB). Exports of 300 RB were down 98 percent from the previous week and from the prior 4-week average. The destinations were to India (200 RB) and China (100 RB). 

 

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

Export for Own Account:  For 2022/2023, new exports for own account totaling 300 MT were to Vietnam. Exports for own account totaling 1,700 RB to Vietnam were applied to new or outstanding sales. Decreases of 5,200 RB were for China (4,500 RB) and Vietnam (700 RB). The current exports for own account outstanding balance of 99,000 RB are for China (69,600 RB), Vietnam (19,300 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 522,600 pieces for 2023 were up 32 percent from the previous week and 21 percent from the prior 4-week average. Increases were primarily for China (361,900 whole cattle hides, including decreases of 9,600 pieces), Mexico (77,500 whole cattle hides, including decreases of 600 pieces), Brazil (50,000 whole cattle hides), South Korea (16,000 whole cattle hides, including decreases of 200 pieces), and Thailand (11,500 whole cattle hides, including decreases of 700 pieces). Total net sales reductions of 200 kip skins were for Belgium. Exports of 364,200 pieces were down 20 percent from the previous week and 13 percent from the prior 4-week average. Whole cattle hides exports were primarily to China (265,000 pieces), Mexico (43,700 pieces), Thailand (18,800 pieces), South Korea (18,300 pieces), and Brazil (12,700 pieces). Exports of 2,500 kip skins were to Belgium. 

 

Net sales of 25,800 wet blues for 2023 were down 88 percent from the previous week and 82 percent from the prior 4-week average. Increases primarily for Thailand (14,200 unsplit), Vietnam (10,100 unsplit), Hong Kong (3,100 unsplit), Mexico (1,800 unsplit), and China (800 unsplit), were offset by reductions for India (2,300 grain splits) and Italy (1,900 unsplit). Exports of 85,200 wet blues were down 9 percent from the previous week and 32 percent from the prior 4-week average. The destinations were primarily to China (42,300 unsplit), Vietnam (16,600 unsplit), Hong Kong (10,000 unsplit), Thailand (6,200 unsplit), and Italy (4,000 unsplit). Net sales of 45,500 splits were reported for China (44,000 pounds) and South Korea (1,500 pounds). Exports of 43,500 pounds were to China.

 

Beef:  Net sales of 12,800 MT for 2023 were unchanged from the previous week, but down 23 percent from the prior 4-week average. Increases primarily for China (4,700 MT, including decreases of 100 MT), Japan (3,200 MT, including decreases of 400 MT), Mexico (1,200 MT), Taiwan (1,200 MT, including decreases of 100 MT), and South Korea (1,100 MT, including decreases of 700 MT), were offset by reductions for the United Kingdom (100 MT). Total net sales of 200 MT for 2024 were for Japan. Exports of 16,000 MT were up 4 percent from the previous week, but down 3 percent from the prior 4-week average. The destinations were primarily to South Korea (4,200 MT), Japan (4,000 MT), China (2,200 MT), Mexico (1,300 MT), and Taiwan (1,300 MT).

 

Pork:  Net sales of 26,700 MT for 2023 were up 5 percent from the previous week, but down 2 percent from the prior 4-week average. Increases were primarily for Mexico (10,700 MT, including decreases of 300 MT), Japan (4,700 MT, including decreases of 600 MT), Australia (1,900 MT, including decreases of 100 MT), China (1,900 MT, including decreases of 300 MT), and Canada (1,600 MT, including decreases of 500 MT). Exports of 36,000 MT were up 44 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Mexico (14,400 MT), China (5,100 MT), Japan (3,900 MT), South Korea (3,200 MT), and Canada (1,800 MT).