WASHINGTON, Nov. 10- Agricultural exports are at a record high with more than $137 billion for the fiscal year 2011, according to the latest USDA agricultural trade data.
"Thanks to the productivity of America's farmers, ranchers and producers, the American brand of agriculture is surging in popularity worldwide,” said Agriculture Secretary Tom Vilsack. “Farm exports in fiscal year 2011 reached a record high of $137.4 billion—exceeding past highs by $22.5 billion—and supported 1.15 million jobs here at home.”
Vilsack announced he will be visiting Vietnam and China next week to discuss trade markets and barriers for U.S. farm products. He stressed that partnerships with growing markets in Vietnam, China and other nations are vital to the U.S. economy.
“For the first full fiscal year, China was the lead export market for farm products, buying almost $20 billion of goods such as soybeans, cotton, tree nuts and hides,” he said. “There is no doubt that the Asia Pacific region recognizes the United States as a reliable supplier of the highest-quality food and agricultural products.”
Although the fiscal year’s exports and sales are at an overall high, the past week’s data reported some declines in commodity crop sales. USDA Foreign Agricultural Service (FAS) released its export sales summary today, based on reports from exporters for the period October 28- November 3, 2011.
A brief of the report is below. The full summary can be found here.
Wheat sales were down 22 percent from the prior four-week average with net sales of approximately 298,000 MT for the 2011/2012 marketing year. Exports of 353,500 MT were down 43 percent from the previous week and 20 percent from the prior 4-week average.
Corn sales were also down with net sales of approximately 252,000 MT, 60 percent lower from the previous week and 75 percent from the prior 4-week average. However, outstanding sales of corn were up 19 percent from last year. Exports of 624,400 MT in the last week were primarily to Japan (193,300 MT), Mexico (134,500 MT), China (124,700 MT), South Korea (57,700 MT), the Dominican Republic (27,900 MT), and Taiwan (23,600 MT).
Rice net sales of 45,100 MT were reported for Japan (29,800 MT), Mexico (9,600 MT), Canada (1,700 MT), Honduras (700 MT), and Saudi Arabia (500 MT). Exports of 16,600 MT were down 45 percent from the previous week and 75 percent from the prior 4-week average.
Soybeans net sales of 604,000 MT for the 2011/2012 marketing year were mainly reported for China South Korea Mexico Japan, France and Egypt. Exports of 1,224,100 MT were primarily reported to China (899,800 MT), Indonesia (146,200 MT), Japan (47,200 MT), France (45,500 MT), Mexico (36,600 MT),and Taiwan (21,400 MT).
Soybean cake and meal net sales of 291,400 MT for the 2011/2012 marketing year were mainly reported for the Philippines (130,700 MT), Mexico (118,900 MT) Ireland (20,000 MT), Canada (16,400 MT), and unknown destinations (6,500 MT). Exports of 112,800 MT were primarily reported to Canada (24,400 MT), Mexico (22,900 MT), Panama (13,000 MT), the Dominican Republic (12,700 MT), and Morocco (12,500 MT). Accumulated exports were adjusted down for Mexico (100,000 MT).
Soybean oil net sales of 21,700 MT for delivery in 2011/2012 resulted as increases for Morocco (20,000 MT), the Dominican Republic (2,000 MT), and Mexico (700 MT), were partially offset by decreases for unknown destinations (800 MT) and Canada (300 MT). Exports of 3,200 MT were primarily reported to Mexico (1,200 MT), Turkey (1,000 MT) and Canada (800 MT).
Cotton ne upland sales of 998,000 running bales for the 2011/2012 marketing year reported for China (996,100 RB), Turkey (11,800 RB), and Guatemala (8,100 RB), were partially offset by decreases for unknown destinations (8,700 RB), Japan (6,300 RB), and Indonesia (3,600 RB). Exports of 3,300 RB were mainly reported to China (2,000 RB), Turkey (600 RB), and Japan (300 RB).
Beef net sales of 12,900 MT for delivery in 2011 were primarily for South Korea (4,000 MT), Mexico (3,100 MT), Canada (2,900 MT), Japan (1,300 MT), and Taiwan (700 MT). Decreases were reported for Hong Kong (1,500 MT). Exports of 16,500 MT were mainly reported to Mexico (3,500 MT), Japan (2,300 MT), South Korea (2,300 MT), Canada (2,000 MT), and Vietnam (1,600 MT).
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