FI Weekly USDA Export Sales Snapshot 01/20/23

PDF attached

 

Good sales were posted for corn, sorghum, soybean meal and all-wheat. Soybean and soybean oil sales were within expectations.

 

Diving into the soybean export sales, it appears were there several switches. Of the 986,200 tons for 2022-23, it included China (507,000 MT, including 313,000 MT switched from unknown destinations and decreases of 80,000 MT), Mexico (262,300 MT, including decreases of 3,100 MT), Spain (244,300 MT, including 249,800 MT switched from unknown destinations and decreases of 12,000 MT), Vietnam (67,200 MT, including 55,000 MT switched from unknown destinations and decreases of 200 MT), and Pakistan (66,000 MT), were offset by reductions for unknown destinations (382,300 MT). Soybean meal sales included the Philippines, Spain, Ireland, and Chile.  Soybean exports were 299,200 tons. Soybean oil sales were again poor at 700 tons and shipments at 500 tons.

 

Corn export sales of 1.132 million tons were up from 255,700 tons previous week and included Japan, Mexico and South Korea as primary buyers. China was in there for 71,400 tons but 68,000 tons were switched from unknown. Sorghum sales were a strong 189,000 tons, a marketing year high, and appears all for China. All wheat sales of 473,100 tons were up from 90,800 tons previous week and included Mexico and various Asian countries.

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  1/12/2023 

	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	106.8	984.6	2,016.8	75.9	3,270.4	4,483.9	21.0	90.3
SRW	34.0	643.7	702.2	17.0	1,780.7	1,786.6	0.0	41.6
HRS	181.0	1,389.7	1,273.1	86.9	3,314.3	3,154.5	0.0	49.8
WHITE	152.9	1,231.5	783.2	129.0	2,630.7	2,160.7	14.0	14.3
DURUM	-1.5	119.7	54.6	0.0	168.4	112.7	0.0	1.5
TOTAL	473.1	4,369.2	4,829.8	308.9	11,164.6	11,698.3	35.0	197.5
BARLEY	0.0	4.9	18.0	0.0	6.7	12.5	0.0	0.0
CORN	1,132.1	12,028.6	25,583.6	715.7	11,099.7	16,962.2	87.0	1,248.4
SORGHUM	189.0	328.9	3,917.4	1.1	221.1	1,888.9	0.0	0.0
SOYBEANS	986.2	13,661.4	9,670.1	2,066.2	31,728.3	33,438.3	0.0	397.0
SOY MEAL	362.5	3,254.4	2,935.4	299.2	3,311.2	3,609.9	0.0	18.3
SOY OIL	0.7	18.3	213.9	0.5	20.0	254.6	0.0	0.6
RICE
L G RGH	2.0	123.3	178.1	5.8	197.8	600.6	0.0	0.0
M S RGH	0.0	13.4	10.4	0.0	13.5	3.3	0.0	0.0
L G BRN	0.1	8.1	5.6	0.1	7.9	27.6	0.0	0.0
M&S BR	0.0	36.1	67.6	0.7	7.8	16.8	0.0	0.0
L G MLD	0.6	141.3	78.8	8.2	306.1	407.3	0.0	0.0
M S MLD	-8.4	124.8	102.4	15.0	116.6	184.1	0.0	0.0
TOTAL	-5.6	446.9	442.8	29.8	649.8	1,239.7	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	209.4	4,867.3	7,864.2	183.1	4,201.1	3,403.1	26.9	1,230.1
PIMA	2.5	58.4	221.5	6.3	67.3	161.5	0.0	1.1

 

Export Sales Highlights   

This summary is based on reports from exporters for the period January 6-12, 2023.

Wheat:  Net sales of 473,100 metric tons (MT) for 2022/2023 were up noticeably from the previous week and up 99 percent from the prior 4-week average. Increases primarily for Mexico (124,100 MT, including decreases of 11,100 MT), South Korea (112,000 MT), the Philippines (70,200 MT, including decreases of 900 MT), Japan (47,500 MT), and Honduras (40,000 MT), were offset by reductions for Panama (1,500 MT) and Guatemala (1,200 MT). Net sales of 35,000 MT for 2023/2024 were reported for Mexico (21,000 MT) and Japan (14,000 MT). Exports of 308,900 MT were up 60 percent from the previous week and 46 percent from the prior 4-week average. The destinations were primarily to the Philippines (81,700 MT), China (68,100 MT), Japan (35,400 MT), Taiwan (33,400 MT), and Nigeria (29,200 MT).

Corn:  Net sales of 1,132,100 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases were primarily for Japan (340,000 MT, including 56,800 MT switched from unknown destinations and decreases of 1,300 MT), Mexico (271,000 MT, including decreases of 1,000 MT), South Korea (134,500 MT), China (71,400 MT, including 68,000 MT switched from unknown destinations and decreases of 2,300 MT), and Taiwan (70,200 MT, including decreases of 100 MT). Total net sales of 87,000 MT for 2023/2024 were for Japan. Exports of 715,700 MT were up 85 percent from the previous week, but down 8 percent from the prior 4-week average. The destinations were primarily to Mexico (290,500 MT), China (275,400 MT), Japan (55,500 MT), Costa Rica (32,300 MT), and Canada (24,300 MT).

 

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

Sorghum:  Total net sales of 189,000 MT for 2022/2023–a marketing-year high–were unchanged from the previous week, but up noticeably from the prior 4-week average. The destination was China. Exports of 1,100 MT were up noticeably from the previous week, but down 91 percent from the prior 4-week average. The destination was to Mexico.

Rice:  Net sales reductions of 5,600 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 El Salvador (1,500 MT), Canada (1,200 MT, including decreases of 200 MT), Guatemala (500 MT), Mexico (200 MT), and Belgium (200 MT), were more than offset by reductions primarily for Jordan (9,400 MT). Exports of 29,800 MT were up 46 percent from the previous week, but down 21 percent from the prior 4-week average. The destinations were primarily to Japan (13,000 MT), Haiti (6,100 MT), Guatemala (5,700 MT), Canada (3,200 MT), and Taiwan (700 MT). 

Soybeans:  Net sales of 986,200 MT for 2022/2023 were up 38 percent from the previous week and 48 percent from the prior 4-week average. Increases primarily for China (507,000 MT, including 313,000 MT switched from unknown destinations and decreases of 80,000 MT), Mexico (262,300 MT, including decreases of 3,100 MT), Spain (244,300 MT, including 249,800 MT switched from unknown destinations and decreases of 12,000 MT), Vietnam (67,200 MT, including 55,000 MT switched from unknown destinations and decreases of 200 MT), and Pakistan (66,000 MT), were offset by reductions for unknown destinations (382,300 MT). Exports of 2,066,200 MT were up 28 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to China (1,366,900 MT), Spain (244,300 MT), Mexico (161,500 MT), Vietnam (68,200 MT), and the Netherlands (58,600 MT). 

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

Export for Own Account:  For 2022/2023, the current exports for own account outstanding balance is 1,500 MT, all Canada.

Soybean Cake and Meal:  Net sales of 362,500 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for the Philippines (54,400 MT, including decreases of 1,700 MT), Spain (50,000 MT), Ireland (48,900 MT, including 24,000 MT switched from the Philippines), Chile (45,000 MT), and Colombia (35,700 MT), were offset by reductions primarily for Israel (6,000 MT). Exports of 299,200 MT were down 5 percent from the previous week, but up 11 percent from the prior 4-week average. The destinations were primarily to the Philippines (95,900 MT), Ecuador (38,400 MT), Mexico (35,300 MT), Ireland (26,400 MT), and Japan (25,900 MT).

Soybean Oil:  Net sales of 700 MT for 2022/2023 were up 8 percent from the previous week, but down 63 percent from the prior 4-week average. Increases were reported for Canada (500 MT) and Mexico (200 MT). Exports of 500 MT were down 8 percent from the previous week and 70 percent from the prior 4-week average. The destinations were to Canada (400 MT) and Mexico (100 MT).

Cotton:  Net sales of 209,400 RB for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for China (55,100 RB), Pakistan (43,600 RB, including decreases of 200 RB), Vietnam (42,500 RB, including 100 RB switched from China), Turkey (25,600 RB, including decreases of 17,200 RB), and South Korea (18,700 RB), were offset by reductions for Mexico (2,500 RB). Net sales of 26,900 RB for 2023/2024 were primarily for Turkey (21,600 RB). Exports of 183,100 RB were up 22 percent from the previous week and 48 percent from the prior 4-week average. The destinations were primarily to China (60,200 RB), Pakistan (46,100 RB), Mexico (13,500 RB), Vietnam (12,600 RB), and Indonesia (7,000 RB). Net sales of Pima totaling 2,500 RB for 2022/2023 were down 24 percent from the previous week, but up 6 percent from the prior 4-week average. Increases were primarily for Vietnam (1,300 RB), Taiwan (400 RB), South Korea (300 RB), Bangladesh (200 RB), and Bahrain (100 RB). Exports of 6,300 RB were unchanged from the previous week, but up 14 percent from the prior 4-week average. The destinations were primarily to India (4,100 RB), Vietnam (900 RB), Turkey (400 RB), Japan (300 RB), and Peru (200 RB). 

Optional Origin Sales:  For 2022/2023, the current outstanding balance of 9,300 RB, all Malaysia.

Export for Own Account:  For 2022/2023, new exports for own account totaling 1,900 RB were to China. The current exports for own account outstanding balance of 122,300 RB are for China (92,000 RB), Vietnam (21,900 RB), Pakistan (6,500 RB), India (1,500 RB), and Indonesia (400 RB).

Hides and Skins:  Net sales of 564,200 pieces for 2023 were primarily for China (355,200 whole cattle hides, including decreases of 15,200 pieces), South Korea (65,700 whole cattle hides, including decreases of 1,700 pieces), Mexico (60,100 whole cattle hides, including decreases of 5,000 pieces), Thailand (35,300 whole cattle hides, including decreases of 1,200 pieces), and Brazil (13,300 whole cattle hides, including decreases of 1,000 pieces). In addition, total net sales of 14,300 calf skins were for Italy. Exports of 439,500 whole cattle hides exports were primarily to China (306,200 pieces), Mexico (48,200 pieces), South Korea (35,900 pieces), Thailand (20,200 pieces), and Brazil (16,300 pieces). 

 

Net sales of 63,400 wet blues for 2023 were primarily for Italy (28,900 unsplit, including decreases of 300 unsplit), Thailand (18,200 unsplit, including decreases of 100 unsplit), China (6,700 unsplit), Mexico (5,400 unsplit), and Brazil (2,500 unsplit). Exports of 119,300 wet blues were primarily to Italy (48,200 unsplit and 1,600 grain splits), China (24,000 unsplit), Vietnam (16,000 unsplit), Thailand (12,100 unsplit), and Taiwan (4,400 unsplit). Net sales reductions of 11,200 splits for 2023 were reported for Hong Kong (9,300 pounds) and Vietnam (1,900 pounds). Exports of 43,600 splits were to China.

 

Beef:  Net sales of 17,300 MT for 2023 were primarily for China (4,800 MT, including decreases of 100 MT), South Korea (4,100 MT, including decreases of 400 MT), Japan (3,900 MT, including decreases of 500 MT), Mexico (1,700 MT, including decreases of 100 MT), and Taiwan (1,200 MT, including decreases of 100 MT). Exports of 15,700 MT were primarily to Japan (5,200 MT), South Korea (3,400 MT), China (1,700 MT), Taiwan (1,600 MT), and Mexico (1,500 MT).

Pork:  Net sales of 34,100 MT for 2023 were primarily for Mexico (11,800 MT, including decreases of 200 MT), Canada (4,800 MT, including decreases of 300 MT), China (4,100 MT, including decreases of 600 MT), South Korea (3,700 MT, including decreases of 500 MT), and Japan (3,500 MT, including decreases of 300 MT). Exports of 31,100 MT were primarily to Mexico (14,800 MT), China (4,100 MT), Japan (3,600 MT), South Korea (2,600 MT), and Canada (2,400 MT).