EHedger

Rice:

Net sales of 31,300 MT were up 27 percent from the previous week, but down 29 percent from the prior 4-week average. Increases were reported for Mexico (10,400 MT), Benin (6,000 MT), Honduras (5,300 MT), Guatemala (3,500 MT), Jordan (2,000 MT), Canada (1,600 MT), and the Dominican Republic (1,500 MT). Decreases were reported for Syria (1,000 MT). Net sales of 3,900 MT for delivery in 2009/10 were primarily for Jordan (2,400 MT), Syria (1,000 MT), and Canada (200 MT). Exports of 60,400 MT were up 68 percent from the previous week, but down 27 percent from the prior 4-week average. The primary destinations were Mexico (19,200 MT), Saudi Arabia (9,400 MT), Togo (6,800 MT), Haiti (6,200 MT), El Salvador (4,100 MT), and Honduras (3,700 MT).

: Net sales of 22,700 MT were up 30 percent from the previous week nd 21 percent from the prior 4-week average. Increases were reported for Morocco (16,000 MT) and South Korea (10,000 MT). Decreases were reported for Mexico (5,900 MT). Net sales of 7,000 MT for 2009/10 delivery were for Mexico. Exports of 20,600 MT were up 45 percent from the previous week and 69 percent from the prior 4-week average. The primary destinations were South Korea (13,500 MT), Taiwan (4,000 MT), and Mexico (2,600 MT).

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Export Sales Highlights

Thursday, July 23rd, 2009

Export Sales Highlights

This summary is based on reports from exporters for the period July 10-16, 2009. 

Wheat:  Net sales of 342,300 metric tons were down 19 percent from the previous week.  Increases were reported for Japan (94,600 MT), Nigeria (77,800 MT), Mexico (57,200 MT), Colombia (31,100 MT, including 15,000 MT switched from unknown destinations), South Korea (25,400 MT), Canada (17,000 MT), and the Dominican Republic (12,000 MT).  Decreases were reported for Trinidad (3,000 MT), Guatemala (3,000 MT), and Indonesia (2,800 MT).  Exports of 436,800 MT were up noticeably from the previous week. The primary destinations were the Philippines (89,300 MT), Nigeria (86,600 MT), Peru (65,100 MT), Japan (41,800 MT), Mexico (37,300 MT), and Indonesia (32,600 MT).   

Corn:  Net sales of 757,600 MT were up 8 percent from the previous week, but down 8 percent from the prior 4-week average.  Increases reported for Japan (460,000 MT, including 78,200 MT switched from unknown destinations and decreases of 11,700 MT), South Korea (145,400 MT), Mexico (48,000 MT), Canada (45,300 MT), Colombia (44,600 MT, including 12,500 MT switched from unknown destinations), Tunisia (20,000 MT), and El Salvador (18,100 MT), were partially offset by decreases for unknown destinations (49,600 MT), Guatemala (31,500 MT), and Trinidad (5,000 MT).  Optional origin sales of 7,000 MT were for Colombia.  Net sales of 577,100 MT for delivery in 2009/10 were primarily for unknown destinations (256,100 MT), South Korea (156,000 MT), Panama (44,900 MT), and Peru (30,000 MT).  Exports of 921,500 MT were down 5 percent from the previous week and 1 percent from the prior 4-week average.  The primary destinations were Japan (324,500 MT), Mexico (143,200 MT), South Korea (111,200 MT), Egypt (76,300 MT), Colombia (52,100 MT), Taiwan (31,400 MT), and Morocco (25,900 MT).   

Barley:  There were no sales reported during the week.  Exports of 200 MT were for Mexico. 

Sorghum:  Net sales of 17,500 MT resulted as increases for Japan (22,200 MT, including 8,000 MT switched from unknown destinations) were partially offset by decreases for unknown destinations (3,200 MT) and Mexico (1,500 MT).  Net sales of 6,000 MT for delivery in 2009/10 were for Mexico.  Exports of 24,900 MT were for Japan (21,200 MT) and Mexico (3,700 MT).   

Rice:  Net sales of 24,700 MT were down 36 percent from the previous week and 57 percent from the prior 4-week average.  Increases were reported for Jordan (3,900 MT), Guatemala (3,100 MT), Saudi Arabia (2,700 MT), unknown destinations (2,700 MT), the Dominican Republic (2,000 MT), Ghana (2,000 MT), and the United Kingdom (1,600 MT).  Exports of 35,900 MT were down 18 percent from the previous week and 62 percent from the prior 4-week average.  The primary destinations were Costa Rica (11,500 MT), Guatemala (4,400 MT), Mexico (4,200 MT), Canada (4,000 MT), and Jordan (3,000 MT). 

Soybeans:  Net sales of 320,000 MT were up noticeably from the previous week and 99 percent from the prior 4-week average.  Increases reported for China (157,600 MT, including decreases of 110,400 MT), Mexico (115,300 MT), Japan (21,800 MT, including 18,900 MT switched from unknown destinations), Taiwan (19,200 MT), and Indonesia (14,000 MT), were partially offset by decreases for unknown destinations (20,000 MT), Guatemala (5,000 MT), and Turkey (2,100 MT).  Net sales of 382,000 MT for 2009/10 delivery were primarily for unknown destinations (197,000 MT) and China (115,000 MT).  Exports of 283,000 MT were down 27 percent from the previous week and 28 percent from the prior 4-week average.  The primary destinations were Japan (65,100 MT), China (54,600 MT), Taiwan (50,300 MT), Egypt (32,400 MT), Mexico (25,400 MT), and Turkey (16,900 MT).  

Soybean Cake and Meal:  Net sales of 157,600 MT were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for Canada (55,000 MT), Mexico (42,400 MT), unknown destinations (18,300 MT), Ireland (16,000 MT), Japan (9,500 MT), and the Philippines (9,000 MT).   Decreases were reported for the Guatemala (9,200 MT).   Net sales of 35,100 MT for delivery in 2009/10 were mainly for Panama (20,300 MT), the French West Indies (9,000 MT), and Canada (4,900 MT).  Exports of 103,600 MT were down 42 percent from the previous week and 35 percent from the prior 4-week average.  The primary destinations were Mexico (46,200 MT), Canada (22,700 MT), the Dominican Republic (10,400 MT), Guatemala (9,800 MT), and El Salvador (7,100 MT).  

Soybean Oil:  Net sales of 17,500 MT were down 64 percent from the previous week, but up 9 percent from the prior 4-week average.  Increases were reported for unknown destinations (10,000 MT), Mexico (6,200 MT), and Nicaragua (500 MT).  Net sales reductions of 6,000 MT for 2009/10 delivery were for Mexico.  Exports of 14,200 MT were down 48 percent from the previous week, but up 42 percent from the prior 4-week average.  The primary destinations were Taiwan (6,300 MT), Malaysia (5,500 MT), and Mexico (1,600 MT).   

Cotton:  Net Upland sales reductions of 1,500 running bales resulted as increases for Malaysia (6,100 RB), China (5,600 RB), Thailand (4,300 RB), and Turkey (3,400 RB), were more than offset by decreases for Pakistan (10,700 RB), Mexico (6,800 RB), Singapore (3,500 RB), and Vietnam (1,700 RB). Net sales of 51,200 RB for delivery in 2009/10 were mainly for Mexico (18,800 RB), South Korea (13,200 RB), Vietnam (8,300 RB), Columbia (5,800 RB), and Japan (3,300 RB).  Decreases were reported for Pakistan (2,100 RB).  Exports of 244,700 RB were up 9 percent from the previous week, but down 16 percent from the prior 4-week average.  The primary destinations were Turkey (44,800 RB), China (42,100 RB), Indonesia (29,200 RB), Mexico (28,000 RB), Vietnam (19,500 RB), and Thailand (14,400 RB).  Net American Pima sales of 18,700 RB were down 58 percent from the previous week, but up 21 percent from prior 4-week average.  Increases were mainly for India (7,600 RB), China (7,400 RB), Germany (1,800 RB), and Thailand (900 RB).  Net sales of 300 RB for delivery in 2009/10 were for India.  Exports of 21,300 RB–a marketing-year high–were up 83 percent from the previous week and up noticeably from the prior 4-week average.   Increases were mainly to China (13,000 RB), Pakistan (4,200 RB), Germany (1,200 RB), and Indonesia (1,000 RB). 

Hides and Skins:  Net sales of 370,200 pieces, all whole cattle hides, were down 30 percent from the previous week and 24 percent from the prior 4-week average.  Whole cattle hide sales were primarily for China (259,500 pieces), South Korea (44,500 pieces), Taiwan (24,600 pieces), Thailand (20,400 pieces), and Mexico (11,200 pieces).  Exports of 674,200 pieces were down 7 percent from the previous week, but up 12 percent from the prior 4-week average.  Whole cattle hide exports of 660,100 pieces were primarily to China (371,100 pieces), South Korea (174,000 pieces), Taiwan (29,300 pieces), Thailand (25,900 pieces), Mexico (24,200 pieces), and Hong Kong (14,400 pieces). 

Net sales of 176,400 wet blues were up 54 percent from the previous week and 83 percent from the prior 4-week average.  The primary destinations were China (100,400 unsplit), Taiwan (35,000 unsplit), Mexico (22,100 grain splits), and Italy (10,400 grain splits and 2,100 unsplit).  Decreases were reported for Mexico (200 unsplit).  Exports of 110,900 hides were up 57 percent from the previous week and 30 percent from the prior 4-week average.  The primary destinations were China (36,100 unsplit and 12,000 grain splits), Mexico (16,600 grain unsplits and 1,800 unsplit), Taiwan (11,900 unsplit), and South Korea (7,400 unsplit).  Net sales of splits totaling 135,700 pounds resulted as increases for Hong Kong (150,000 pounds) were partially offset by decreases for Vietnam (12,300 pounds) and China (2,000 pounds).  Exports of 402,700 pounds were up noticeably from the previous week and 65 percent from the prior 4-week average.  The destinations were South Korea (135,000 pounds), China (130,000 pounds), Vietnam (87,700 pounds), and Hong Kong (50,000 pounds). 

Beef:  Net sales of 8,900 MT were primarily for Japan (3,900 MT), Canada (1,800 MT), Mexico (1,200 MT), South Korea (700 MT), Taiwan (700 MT), and Vietnam (200 MT).  Exports of 8,400 MT were mainly to Mexico (2,800 MT), Japan (1,600 MT), Canada (1,500 MT), Taiwan (700 MT), and South Korea (500 MT). 

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USDA To Revise Acreage Estimates For Corn, Sorghum

Thursday, July 23rd, 2009

WASHINGTON (Dow Jones)–The U.S. Department of Agriculture is going back to farmers in several states to get a more accurate

picture of how much corn and sorghum they are planting this year, the USDA’s National Agricultural Statistics Service said

Wednesday.

USDA’s NASS released its annual acreage report on June 30, but said Wednesday that “variable weather conditions in key

crop-growing regions” are behind the need to update that report.  “The agency will ask growers to update their reported acres

planted to corn in seven states: Illinois, Indiana, Kentucky, Missouri, North Dakota, Ohio and Pennsylvania,” NASS said.

“Growers in Illinois and Missouri will also be asked to update their reported acres planted to sorghum.”

The acreage update is scheduled to be released in USDA’s Aug. 12 Crop Production report.

The June 30 acreage report predicted farmers would plant 87.035 million acres of corn in the U.S. this year. That’s 1.053 million

more acres than farmers planted last year, and the projection was considered stunningly bullish for futures prices, as most analysts

expected acreage would be lower due to a soggy planting season.

Price Futures Group Vice President Jack Scoville said the resurveying is likely a result of the late planting. The June 30

report reflected planting as of June 1, and Scoville said that it likely still reflected the intentions of farmers who had yet to

plant. 

“USDA is acknowledging that basically the June numbers still had a lot of less-than-actual data involved,” Scoville said.

The USDA’s announcement is a statement that they are trying to ensure the August report has integrity, and that the trade won’t

have to wait until final acreage numbers are issued in January, said Joe Victor, vice president/marketing for Allendale.

Victor said he would expect a reduction in planted and harvested acres is likely, although an increase couldn’t be ruled out

entirely.

“I wouldn’t think that it would be a notable shift,” Victor said. Scoville said a downward revision in acres is the most likely outcome. He noted that the states being surveyed generally suffered through wet spring weather.

“To me, the worst it’s going to be is neutral to corn,” Scoville said.

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