Corn net sales nearly triple last week’s report

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After plummeting to an annual low last week, the USDA’s Weekly Export Sales report showed a significant rebound this week.

According to the report, corn net sales of 321,400 metric tons (MT) for 2013-2014 were nearly triple the report from the previous week; however, these sales also were down 22 percent from the prior 4-week average. 

Increases were reported for Japan (142,000 MT, including 77,800 MT switched from unknown destinations and decreases of 12,500 MT), South Korea (127,100 MT), Vietnam (86,000 MT, including 90,000 MT switched from unknown destinations and decreases of 4,000 MT), Spain (72,000 MT, including 60,000 MT switched from unknown destinations), Egypt (68,000 MT), and the Netherlands (60,000 MT, switched from unknown destinations).  Decreases were reported for unknown destinations (327,700 MT), China (60,000 MT), and Israel (1,100 MT). 

Corn net sales of 232,100 MT for 2014-2015 were reported primarily for Mexico (138,600 MT), unknown destinations (65,600 MT) and Costa Rica (27,400 MT).  Decreases were reported for the Philippines (200 MT).  Exports of 1,154,500 MT were up 3 percent from the previous week and 2 percent from the prior 4-week average.  The primary destinations were Mexico (292,700 MT), Japan (224,600 MT), South Korea (135,500 MT), Israel (133,900 MT), Spain (132,000 MT), Vietnam (86,000 MT), and Costa Rica (60,800 MT). 

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 321,431 109,031 212,400
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 458,115 770,382 766,690
High 937,920 1,837,865 1,837,865
Low 109,031 109,031 109,031
 
 
Chart

The report also showed that soybean net sales of 317,200 MT for 2013-2014 were up noticeably from the previous week and from the prior 4-week average. 

Increases were reported for unknown destinations (197,600 MT), Mexico (56,100 MT), Thailand (38,000 MT), Taiwan (10,000 MT), and Vietnam (8,000 MT).  Net sales of 457,700 MT for 2014/2015 were for China (247,000 MT), unknown destinations (170,000 MT), Mexico (19,300 MT), Costa Rica (13,300 MT), and Taiwan (5,000 MT). 

Soybean exports of 98,200 MT were down 49 percent from the previous week and 42 percent from the prior 4-week average.  The primary destinations were Mexico (52,900 MT), Japan (22,000 MT), Indonesia (11,100 MT), Taiwan (5,700 MT), and Canada (4,100 MT). 

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 317,157 97,930 219,227
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 96,280 269,804 214,052
High 317,157 943,400 772,736
Low 782 782 -16,421
 
 
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Doane Advisory Services shows both corn and soy markets rose by varying degrees Wednesday night. July corn inched up 1.5 cent to $4.425/bushel in early Thursday trading, while December added 1.25 to $4.4125. July soybeans climbed 8.25 cents to $14.24/bushel Wednesday night, while July soyoil skidded 0.01 cents to 40.64 cents/pound, and July soymeal advanced $3.1 to $454.8/ton.


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