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Soybean oil exports top new 2017/2018 high

 

The USDA reports corn export sales for the week ending December 21st were above most pre-report estimates. Exports sales of soybean oil hit a new marketing year high and were more than 80 percent higher than the previous week. Sales of soybean meal and beef were also higher, while sales of wheat, corn, sorghum, soybeans and pork were lower for the current marketing year.  2018/2019 exports increased for pork and decreased for wheat, corn, sorghum, soybeans, meal, oil and beef.

Wheat exports totaling 478,400 tons for delivery in marketing year 2017/2018 were down 40 percent from the previous week, but up 1 percent from the prior 4-week average. Increases were for Morocco, Mexico, Nigeria, South Korea, and Thailand.  Reductions were reported for unknown destinations, the United Kingdom, the Leeward and Windward Islands, and Malaysia.  For 2018/2019, net sales were reported for South Korea and Morocco.  Exports of 526,600 tons were down 9 percent from the previous week, but up 31 percent from the prior 4-week average.  The primary destinations were to Iraq, Japan, Mexico, Nigeria, and Thailand.

Corn was reported at 1,245,500 tons for 2017/2018, down 20 percent from the previous week, but up 28 percent from the prior 4-week average. Increases were reported for unknown destinations, Mexico, Colombia, and Spain.  Reductions were reported for Panama and the Philippines.  For 2018/2019, net sales of 102,900 tons were reported for Guatemala, Honduras, El Salvador, and Mexico.  Exports of 521,000 tons were down 26 percent from the previous week and 21 percent from the prior 4-week average.  The destinations were primarily to Colombia, Japan, Mexico, Peru, and the Philippines.

Sorghum sales of 325,600 tons for 2017/2018 were down 26 percent from the previous week and 13 percent from the prior 4-week average.   Increases were reported for China, unknown destinations, and Japan.  Exports of 122,300 tons were down 52 percent from the previous week and 41 percent from the prior 4-week average.  The destinations were China and Mexico.

Soybeans were pegged at 974,700 tons for 2017/2018, down 44 percent from the previous week and 37 percent from the prior 4-week average. Increases were reported for China, Japan, the Netherlands, Mexico, and Turkey.  Reductions were reported for unknown destinations and Spain.  For 2018/2019, net sales of 81,300 tons were reported for unknown destinations, Japan, and Thailand.  Exports of 1,409,600 tons were down 9 percent from the previous week and 20 percent from the prior 4-week average.  The primary destinations were China, Mexico, the Netherlands, Thailand, and Japan.

Soybean meal came out to 288,300 tons for 2017/2018, up 57 percent from the previous week and 17 percent from the prior 4-week average.   Increases were reported for Mexico, Italy, Morocco, Guatemala, Jordan, Honduras, and El Salvador.  Reductions were reported for Nicaragua and Colombia.  For 2018/2019, net sales of 17,600 tons were reported for Guatemala, Honduras, and El Salvador.   Exports of 222,300 tons were down 15 percent from the previous week and 8 percent from the prior 4-week average.   The primary destinations were to Mexico, Thailand, the Philippines, Canada, and El Salvador.

Soybean oil was reported at 44,200 tons for 2017/2018–a marketing-year high– were up 82 percent from the previous week and up noticeably from the prior 4-week average. Increases were reported for South Korea, Colombia, the Dominican Republic, and Mexico.  Exports of 4,000 tons were down 75 percent from the previous week and 74 percent from the prior 4-week average.   The primary destination was Mexico.

Net beef sales of 9,100 tons for 2017 were up 9 percent from the previous week and 17 percent from the prior 4-week average. Increases were reported for South Korea, Mexico, Hong Kong, and Canada.  Reductions were reported for Taiwan and China.  For 2018, net sales of 9,100 tons were reported primarily for Japan, Mexico, Hong Kong, and Taiwan.  Reductions were reported for South Korea and Vietnam.  Exports of 16,200 tons were down 1 percent from the previous week, but up 2 percent from the prior 4-week average.  The primary destinations were, South Korea, Hong Kong, Mexico and Canada.

Pork sales of 16,600 tons reported for 2017 were down 30 percent from the previous week and 16 percent from the prior 4-week average. Increases were reported for Mexico, Japan, South Korea, Canada, and Guatemala.  Reductions were reported for Australia and Colombia.  For 2018, net sales of 14,400 tons were reported primarily for Mexico, Japan, South Korea, and Colombia.  Reductions were reported for the Philippines.  Exports of 24,500 tons were up 7 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily Mexico, South Korea, Japan, Canada, and Panama.