Export Sales Summary
EndingWeekly Sales 1000 MT (Cotton in 1000 RB)Sales Needed Per Week to Meet USDA Est.Current Yr % of USDA Est5 Yr. Avg. % of USDA Est
Soybeans - 2022/2023 Marketing Year
Jul-2790.6206.998.1%101.6%
Jul-20198.5187.5101.2%101.2%
Jul-1361.7189.1101.2%101.2%
Jul-0639.6173.2100.8%100.8%
Jun-29131.2158.3100.7%100.7%
Soymeal - 2022/2023 Marketing Year
Jul-27163.632.997.6%94.3%
Jul-20159.845.693.1%93.1%
Jul-13272.555.792.5%92.5%
Jul-0654.573.491.6%91.6%
Jun-29148.872.090.9%90.9%
Bean Oil - 2022/2023 Marketing Year
Jul-272.25.671.1%91.3%
Jul-202.15.390.6%90.6%
Jul-13-0.85.090.2%90.2%
Jul-061.24.589.6%89.6%
Jun-29-6.34.388.5%88.5%
Corn - 2022/2023 Marketing Year
Jul-27107.5348.695.8%97.1%
Jul-20314.2308.496.8%96.8%
Jul-13236.8309.296.6%96.6%
Jul-06468.4300.296.4%96.4%
Jun-29251.7318.995.6%95.6%
Wheat - 2023/2024 Marketing Year
Jul-27421.3242.429.6%36.2%
Jul-20233.2245.534.6%34.6%
Jul-13170.7245.332.6%32.6%
Jul-06395.7244.030.5%30.5%
Jun-29405.8246.528.0%28.0%
Cotton - 2022/2023 Marketing Year
Jul-27-9.9-351.8114.4%112.7%
Jul-20-18.7-294.8112.6%112.6%
Jul-1367.1-255.4112.4%112.4%
Jul-0623.1-215.1112.2%112.2%
Jun-29109.2-188.6111.8%111.8%
Weekly Export Sales Estimates
RangeLast
Current & Next YearLowHighWeekYear
Corn3501,200650315
Soybeans1,6502,750743400
Soybean Meal100600274235
Soybean Oil01021
Wheat150500233250

Highlights

SOY COMPLEX
The Export Sales Report showed that for the week ending July 27, net soybean sales came in at 90,595 tonnes for the current marketing year and 2,630,722 for the next marketing year for a total of 2,721,317. Cumulative soybean sales have reached 98.1% of the USDA forecast for the 2022/2023 marketing year versus a 5 year average of 101.6%. Sales need to average 207,000 tonnes per week to reach the USDA forecast.

Net meal sales came in at 163,624 tonnes for the current marketing year and 183,315 for the next marketing year for a total of 346,939. Cumulative meal sales have reached 97.6% of the USDA forecast for the 2022/2023 marketing year versus a 5 year average of 94.3%. Sales need to average 33,000 tonnes per week to reach the USDA forecast.

Net oil sales came in at 2,223 tonnes for the current marketing year and 2,232 for the next marketing year for a total of 4,455. Cumulative oil sales have reached 71.1% of the USDA forecast for the 2022/2023 marketing year versus a 5 year average of 91.3%. Sales need to average 5,600 tonnes per week to reach the USDA forecast.

CORN
The Export Sales Report showed that for the week ending July 27, net corn sales came in at 107,521 tonnes for the current marketing year and 348,852 for the next marketing year for a total of 456,373. Cumulative sales have reached 95.8% of the USDA forecast for the 2022/2023 marketing year versus a 5 year average of 97.1%. Sales need to average 349,000 tonnes per week to reach the USDA forecast.

WHEAT
The Export Sales Report showed that for the week ending July 27, net wheat sales came in at 421,282 tonnes for the current marketing year and 13,400 for the next marketing year for a total of 434,682. Cumulative sales have reached 29.6% of the USDA forecast for the 2023/2024 marketing year versus a 5 year average of 36.2%. Sales need to average 242,000 tonnes per week to reach the USDA forecast.

COTTON
The Export Sales Report showed that for the week ending July 27, net cotton sales came in at -9,912 bales (cancelations) for the current marketing year and 33,936 for the next marketing year for a total of 24,024. Cumulative sales have reached 114.4% of the USDA forecast for the 2022/2023 marketing year versus a 5 year average of 112.7%.

Definition

The Export Sales Reporting Program monitors U.S. agricultural export sales on a daily and weekly basis.

The program requires U.S. exporters to report sales of certain commodities to FAS each week. Commodities currently covered by the program are wheat, wheat products, barley, corn, grain sorghum, oats, rye, rice, soybeans, soybean cake and meal, soybean oil, cotton, cottonseed, cottonseed cake and meal, cottonseed oil, sunflowerseed oil, flaxseed, linseed oil, cattle hides and skins, beef and pork. FAS publishes a weekly summary of export sales activity every Thursday at 8:30 a.m. Eastern time, unless a change is announced.

In addition to the weekly requirement, daily reporting is required when a single exporter sells 100,000 metric tons or more of wheat, corn, grain sorghum, barley, oats, soybeans, soybean cake or soybean meal, or 20,000 metric tons or more of of soybean oil, to a single destination on a single day. FAS issues a summary of daily sales at 9 a.m. Eastern time on the following business day. Daily sales are also included in the weekly report. (See the latest daily sales reports below, under News.)

Description

This report allows analysts to monitor export activity for US agricultural products, including actively -traded contracts like corn, wheat, soybeans, soybean meal, soybean oil, cotton, pork and beef. The report tracks sales and physical exports for the week ending the prior Thursday.

Sales vs. Shipments
"Sales" are reported as they occur, which is often well ahead of the actual export date. They can be cancelled, too. Sales are sometimes reported for the following marketing year, and as the end of a year approaches, the sales for the next year increase. At the end of a given year, any sales that have not been shipped are moved into the next year's tally.

Analysts often track the amount of unshipped sales. If that number is unusually high, analysts may wonder about potential cancellations.

Similar to the Export Inspections report, analysts like to compare the current year's export sales pace with previous years. They also measure the pace of sales against the USDA's export forecast for the entire marketing year. For example, if cumulative US soybean export sales have reached 45% of the USDA's forecast for the entire marketing year, while the five-year average for that week was only 40%, it would suggest that exports are running stronger than what the USDA has forecast. This could draw an analyst to conclude that the USDA will revise its export forecast higher in future Supply/Demand (WASDE) reports.

This report also includes detail on which countries made the purchases. This includes"unknown," which analysts often infer to be China.

This report is not as timely as the Export Inspections report, as comes three days later and is a full week after the"as of" date. However, it covers many more products, including soybean meal, soybean oil, cotton, pork and several others. And because it presents sales as well as exports, it is more forward-looking.
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