Corn exports up 25 percent

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According to this week's U.S. Export Sales report from the USDA, corn exports of 940,700 MT were up 25 percent from the previous week and 24 percent from the prior 4-week average.  The primary destinations were to Japan (214,000 MT), Mexico (193,300 MT), South Korea (126,700 MT), China (120,200 MT), Saudi Arabia (70,200 MT), and Taiwan (48,700 MT).

Corn net sales of 958,100 MT for the 2011/2012 marketing year resulted as increases for Japan (311,900 MT, including 113,600 MT switched from unknown destinations), Mexico (264,100 MT,), South Korea (186,600 MT), Egypt (120,000 MT), Costa Rica (78,100 MT, including 1,300 MT switched from Guatemala), and China (72,800 MT, including 60,000 MT switched from unknown destinations and decreases of 3,700 MT), were partially offset by decreases for unknown destinations (151,200 MT), the Dominican Republic (10,500 MT), and Guatemala (5,900 MT).  

Net sales of 82,500 MT for delivery in 2012/2013 marketing year were reported for Mexico (45,000 MT), Japan (32,500 MT), and Nicaragua (5,000 MT).  Exports of 940,700 MT were up 25 percent from the previous week and 24 percent from the prior 4-week average.  The primary destinations were to Japan (214,000 MT), Mexico (193,300 MT), South Korea (126,700 MT), China (120,200 MT), Saudi Arabia (70,200 MT), and Taiwan (48,700 MT).

Corn futures closed higher on Wednesday as the market found support from the dollar index turning lower amid the announcement that the Federal Reserve will keep interest rates exceptionally low through late 2014. On Thursday corn futures were called 8 to 9 cents high.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 958,136 759,899 198,237
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 516,546 707,781 679,834
High 958,136 3,616,287 958,136
Low 280,551 208,948 321,466
 
 
Chart

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