USDA Export sales Weekly report: Meidou sales exceed market expectations, China imports 961200 tons

On the morning of Friday, Nov. 13, the U.S. Department of Agriculture (USDA) released its weekly export sales report for the week ending Thursday, November 5. In the week, the net export sales of soybeans in the United States in 2009 / 10 (from September 1, 2009) were 1.2725 million tons, up 82% from the previous four-week average and exceeding the upper edge of the range of 500000-700000 tons that analysts had expected. Imports increased by 961200 tons from China (of which 168600 tons were transferred from anonymous buyers, with another 147600 tons cut), 126700 tons from Japan (54000 tons from anonymous buyers), 85700 tons from Mexico, 84,400 tons from Canada (of which 50 tons were transferred from anonymous buyers) and 71,700 tons from Taiwan. Spain 67400 tons (of which 58000 tons are transferred from the Netherlands) and Thailand 57900 tons (of which 55000 tons are transferred from China). The countries that cut imports were anonymous buyers 281000 tons, the Netherlands 58000 tons and Italy 18000 tons.

The shipments of soybeans exported by the United States in 2009 were 1.633 million tons, an increase of 1% and 45% over the average of the previous week and the previous four weeks, setting a new annual high in this market, mainly to countries, including 1.13 million tons in China, 140100 tons in Japan, 84400 tons in Canada, 67400 tons in Spain, 62200 tons in Mexico and 60,100 tons in Thailand.

As of November 5, the cumulative soybean export sales of the United States in 2009 were 24.6818 million tons, compared with 15.6209 million tons in the same period last year, and the cumulative export shipments were 7.2506 million tons, compared with 6.1817 million tons in the same period last year.

Since the beginning of this market year, China has bought a total of 15.119 million tons of American beans, compared with 8.2842 million tons in the same period last year, and shipped 4.7261 million tons, compared with 3.8119 million tons in the same period last year.

In the same week, the net export sales of soybean meal in the United States in 2009-10 (from October 1, 2009) were 224100 tons, an increase of 92% over the previous week, exceeding the upper edge of the previous market forecast of 75000-200000 tons. The shipments of soybean meal exported by the United States in 2009 / 10 were 179800 tons, up 5% from the previous week.

The net export sales of soybean oil in the United States in 2009 were 5800 tons, which was in line with the previous market forecast of 5000-25000 tons. The shipments of soybean oil exports in the United States in 2009 were 27200 tons, a decrease of 73 percent from the previous week.

In that week, the net export sales of corn in the United States in 2009 / 10 (from September 1, 2009) was 488500 tons, down 13% from the previous week, 9% higher than the previous four-week average, and in line with the previous market forecast range of 400000-700000 tons. Us corn export shipments in 2009 and 2010 were 758000 tons, 7 per cent higher than the previous week and 6 per cent higher than the previous four-week average. As of November 5, the cumulative sales volume of US corn exports in 2009 / 10 was 18.3385 million tons, compared with 17.435 million tons in the same period last year, with export shipments of 8.468 million tons and 7.7022 million tons in the same period last year.