Exports: Corn, soybeans set new record low

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

According to the USDA's latest U.S. Export Sales report, corn net sales reductions of 33,700 MT for the 2011/2012 marketing year resulted as increases for China (56,900 MT, including 60,000 MT switched from unknown destinations and decreases of 5,800 MT), Guatemala (26,300 MT), Japan (23,300 MT, including 26,700 MT switched from unknown destinations and decreases of 3,300 MT), El Salvador (21,700 MT), and Mexico (4,300 MT), were more than offset by decreases for unknown destinations (86,700 MT), South Korea (39,700 MT), Canada (24,900 MT), and Colombia (7,500 MT).  

Net sales of 168,400 MT for delivery in the 2012/2013 marketing year were primarily for Japan (113,000 MT), unknown destinations (19,100 MT), Taiwan (18,600 MT), and Jamaica (15,000 MT).  Decreases were reported for Mexico (22,300 MT).  Exports of 372,800 MT were down 38 percent from the previous week and 35 percent from the prior 4-week average.  The primary destinations were Japan (101,000 MT), Mexico (76,800 MT), China (61,600 MT), Venezuela (45,000 MT), Guatemala (26,300 MT), and El Salvador (21,200 MT).

Optional Origin Sales:   For MY 2012/2013, outstanding optional origin sales total 300,000 MT, all Mexico.


Corn futures closed higher on Wednesday after new crop corn prices rose more than 2 percent to close above $8 again. Futures were trading slightly higher on Thursday morning, tied to buying support of further damage to the corn crop by Hurricane Isaac.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales -33,710 108,440 -142,150
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 106,477 366,215 441,583
High 192,886 1,331,862 1,331,862
Low -33,710 -33,710 -33,710
 
 
Chart


The report also showed that soybean net sales reductions of 10,100 MT for the 2011/2012 marketing year resulted as increases for China (71,300 MT, including 55,000 MT switched from unknown destinations and decreases of 56,000 MT), Indonesia (26,700 MT, including 24,000 MT switched from unknown destinations and decreases of 1,100 MT), Malaysia (26,200 MT, including 24,000 MT switched from unknown destinations), Japan (20,800 MT, including 20,000 MT switched from unknown destinations), and Israel (17,600 MT, including 16,000 MT switched from unknown destinations), were more than offset by decreases for unknown destinations (176,000 MT).  

Net sales of 731,400 MT for delivery in the 2012/2013 marketing year were primarily for unknown destinations (352,000 MT), China (230,000 MT), and Vietnam (65,000 MT).  Exports of 535,700 MT were down 10 percent from the previous week, but up 14 percent from the prior 4-week average.  The primary destinations were China (364,300 MT), Indonesia (39,400 MT), Mexico (34,000 MT), Malaysia (27,900 MT), Japan (25,800 MT), and Israel (17,600 MT).

Soybean futures closed higher on Wednesday as Hurricane Isaac brought heavy rains and strong winds across the southern half of the country, which will slowdown this year’s early harvest. On Thursday futures were trading 2 to 3 cents lower.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales -10,087 132,915 -143,002
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 188,246 391,970 440,650
High 403,907 1,015,167 1,159,407
Low -10,087 -10,087 -10,087
 
 
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...

Related Articles

No matching related articles at this time.



Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Convyers

Meridian’s conveyors deliver seed with unmatched versatility. Meridian’s transport conveyors are manufactured with heavy-duty, fully enclosed construction. Meridian’s cross cleated ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form