Exports: Corn sales nearly triple

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

Corn net sales exploded this week, nearly triple last week’s “U.S. Export Sales” report and setting a new 10-week high.

In the USDA report, corn net sales of 336,700 metric tons (MT) resulted as increases for unknown destinations (140,100 MT), Japan (72,100 MT), Venezuela (58,000 MT, including 20,000 MT switched from unknown destinations), Costa Rica (25,000 MT), and Mexico (11,400 MT), were partially offset by decreases for Canada (1,400 MT). 

Net sales of 153,600 MT for 2013/2014 were primarily for Mexico (77,400 MT), unknown destinations (62,900 MT), and Japan (7,100 MT).  Exports of 151,200 MT were down 53 percent from the previous week and 52 percent from the prior 4-week average.  

The primary destinations were Venezuela (58,000 MT), Mexico (46,400 MT), Japan (25,500 MT), and Honduras (13,900 MT).   

On Wednesday the tight old-crop situation boosted July futures with the expiring July contract diverged from its deferred counterparts. Overnight corn resumed its pattern of old-crop strength and new-crop losses. July corn futures rose 1.0 cent to $6.655/bushel early Thursday morning, while December sagged 2.5 cent to $5.415.


  Sales 336,670 133,422 203,248
Average 182,884 205,075 207,140
High 336,670 400,347 400,347
Low 81,499 12,622 -49,809

The USDA’s report also showed that soybean net sales dropped this week to 14,500 MT. This resulted as increases for Indonesia (87,700 MT, including 83,000 MT switched from unknown destinations), Malaysia (25,000 MT, including 24,000 MT switched from unknown destinations), Colombia (4,000 MT), Taiwan (3,000 MT), and Guatemala (2,600 MT), were partially offset by decreases for unknown destinations (107,000 MT) and Mexico (4,500 MT). 

Net sales of 451,100 MT for 2013/2014 were primarily for China (360,000 MT), Mexico (53,000 MT), and Indonesia (15,000 MT). 

Exports of 223,000 MT were up noticeably from the previous week and 95 percent from the prior 4-week average.  The primary destinations were Indonesia (87,900 MT), Mexico (61,900 MT), Japan (26,900 MT), Malaysia (25,000 MT), and Morocco (10,500 MT). 

Soybean futures also benefited from old-crop tightness on Wednesday though the favorable production impact of the weather systems currently crossing the Corn Belt appeared to undercut the deferred soybean contracts. On Thursday morning soybean futures rallied in concert with corn, likely reflecting strength spilling-over from the corn pit. July soybean futures climbed 6.5 cents to $15.4075/bushel as the sun rose over Chicago Thursday, while July soyoil gained 0.15 cents to 46.78 cents/pound and July soymeal advanced $4.0 higher to $467.3/ton.

  Sales 14,451 52,613 -38,162
Average 16,790 316,862 257,962
High 193,775 1,608,774 1,608,774
Low 14,451 14,451 -206,312

Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...

Comments (0) Leave a comment 

e-Mail (required)


characters left


YOUR BEST HARVEST IS NOW WITHIN REACH J&M introduces their patented line of X-tended Reach grain carts, featuring a frontfolding single ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form