Corn exports still falling

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


The USDA’s latest “U.S. Export Sales” report shows corn net sales of 945,100 metric tons (MT) for 2013-2014, down 21 percent from last week’s report but more than double the annual average.

These sales were reported for Japan (403,000 MT, including 34,700 MT switched from unknown destinations), China (321,600 MT, including 313,700 MT switched from unknown destinations and decreases of 2,700 MT), Mexico (275,800 MT), Egypt (60,000 MT), Colombia (37,700 MT, including 32,000 MT switched from unknown destinations), and Guatemala (23,500 MT), were partially offset by decreases for unknown destinations (201,400 MT). 

Net sales of 37,600 MT for 2014-2015 were reported for Japan.  Exports of 756,300 MT were primarily to China (339,700 MT), Mexico (210,900 MT), Japan (86,500 MT), Colombia (35,200 MT), and El Salvador (27,200 MT). 

Corn futures led the crop markets higher Wednesday night, and with little fresh news early Thursday morning, traders looked for firming cash prices now that the U.S. corn harvest is largely complete. December corn futures rose 2.5 cents to $4.195/bushel around dawn Thursday, while May edged up 1.25 to $4.3475.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 945,134 1,202,862 -257,728
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 1,452,035 672,550 404,100
High 4,555,497 4,555,497 4,555,497
Low 437,384 58,187 -113,214
 
 
Chart

The report also showed that soybean net sales of 1,376,400 MT for 2013-2014 were reported for China (1,152,000 MT, including 324,700 MT switched from unknown destinations and decreases of 70,100 MT), Mexico (174,700 MT), the Netherlands (95,300 MT, including 90,500 MT switched from unknown destinations), Spain (72,100 MT, including 65,000 MT switched from unknown destinations), and Saudi Arabia (65,000 MT). 

Decreases were reported for unknown destinations (465,200 MT) and Costa Rica (1,100 MT).  Exports of 2,488,600 MT were primarily to China (1,926,100 MT), Taiwan (96,000 MT), the Netherlands (95,300 MT), Spain (72,100 MT), Egypt (63,100 MT), and France (59,500 MT). 

On Thursday, surging palm oil prices seemingly boosted the soy complex in early trading. Talk of growing tightness of global palm oil supplies sent Asian prices to their highest level in over a year, which pulled soyoil values upward as well. Those gains also boosted bean and meal prices despite the latter products’ position on the opposite side of the crush spread.

 January soybean futures rallied 6.0 cents to $12.7975/bushel in early Thursday action, while December soyoil surged 0.56 cents to 40.88 cents/pound, and December soymeal stabilized at $407.0/ton.

 

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 1,376,396 848,522 527,874
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 1,689,488 709,965 464,177
High 4,742,012 4,742,012 4,742,012
Low 848,522 5,119 -206,312
 
 
Chart

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 

Name
e-Mail (required)
Location

Comment:

characters left


FarmRite

FarmRite allows service providers to process more acres and to produce cutting-edge information reports in less time and with less ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form