Exports: Corn sales recover from last week

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According to the USDA's latest U.S. Export Sales report, corn net sales of 188,700 MT were up 21 percent from lastweek, but down 63 percent from the 4-week average.  

Increases reported for China (141,900 MT, including 60,000 MT switched from unknown destinations and decreases of 3,200 MT), Japan (46,600 MT), Venezuela (43,500 MT, including 20,000 MT switched from unknown destinations), Mexico (11,600 MT), and Canada (5,900 MT), were partially offset by decreases for unknown destinations (68,500 MT), Costa Rica (8,700 MT), and El Salvador (1,800 MT).  

Net sales of 94,000 MT for the 2012/2013 marketing year were reported for China (55,000 MT), Mexico (31,000 MT), and El Salvador (8,000 MT).

Exports of 815,100 MT were up 18 percent from the previous week and 20 percent from the prior 4-week average.  The primary destinations were China (317,000 MT), Mexico (199,600 MT), Japan (82,000 MT), Venezuela (50,000 MT), South Korea (39,000 MT), and Taiwan (37,800 MT).

Optional Origin Sales:   For MY 2012/2013, outstanding optional origin sales total 570,000 MT, all Mexico.

Corn futures settled mixed on Thursday as the Euro zone debt crisis continued to weigh down market prices. On Friday futures opened mixed to mostly lower on dry weather concerns.

  Sales 188,717 156,122 32,595
Average 521,375 605,708 644,769
High 1,331,862 1,331,862 1,331,862
Low 130,718 130,718 130,718

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