USDA: Corn export sales jump to yearly high
Angela Bowman, Staff Writer |
September 13, 2012
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According to the USDA's latest U.S. Export Sales report, corn net sales of 214,800 MT for the 2012/2013 marketing year (which began Sept. 1) were primarily for South Korea (97,500 MT, including 55,000 MT switched from unknown destinations), unknown destinations (30,300 MT), Taiwan (28,000 MT), Japan (27,400 MT), Colombia (25,500 MT, including 5,000 MT switched from Honduras), and Trinidad (10,500 MT). Decreases were reported for Honduras (7,500 MT), China (5,700 MT), and Mexico (3,800 MT).
Net Sales of 212,500 MT for delivery in 2013/2014 were reported for Japan (180,000 MT) and unknown destinations (32,500 MT). A total of 1,667,200 MT in sales were outstanding on August 31 (the end of the 2011/2012 marketing year) and carried over to the 2012/2013 marketing year. Exports of 15,200 MT were reported for August 31.
The primary destinations were Mexico (11,200 MT) and Taiwan (3,100 MT). Accumulated exports for the 2011/2012 marketing year were 37,914,800 MT, down 16 percent from the prior year’s total of 45,256,400 MT. Exports for September 1-6 of 249,400 MT were mainly for South Korea (57,500 MT), China (54,600 MT), Mexico (45,500 MT), and Japan (39,600 MT).
Optional Origin Sales: For MY 2012/2013, outstanding optional origin sales total 300,000 MT, all Mexico.
Corn futures closed lower on Wednesday as the USDA's WASDE report proved bearish for the corn market. On Thursday futures traded slightly higher.
| REPORT |
THIS WEEK |
LAST WEEK |
DIFFERENCE |
| Sales |
1,881,967 |
-104,157 |
1,986,124 |
| SALES |
10 WEEKS |
27 WEEKS |
THIS YEAR |
| Average |
360,563 |
423,490 |
466,434 |
| High |
1,881,967 |
1,881,967 |
1,881,967 |
| Low |
31,893 |
19,274 |
-104,157 |
| |
| |
 |
The report also showed that soybean net sales of 628,200 MT for the 2012/2013 marketing year (which began Sept. 1) were primarily for China (340,800 MT, including 110,000 MT switched from unknown destinations and decreases of 55,000 MT), Mexico (172,400 MT), Canada (40,000 MT), Indonesia (39,200 MT), and Japan (38,300 MT).
A total of 2,016,800 MT in sales were outstanding on August 31 (the end of the 2011/2012 marketing year) and carried over to the 2012/2013 marketing year. Exports of 12,600 MT were reported for August 31.
The primary destinations were Vietnam (6,000 MT), Taiwan (3,200 MT), Indonesia (1,800 MT), and Japan (1,100 MT). Accumulated exports for the 2011/2012 marketing year were 36,739,200 MT, down 8 percent from the prior year’s total of 39,993,100 MT. Exports of 339,400 MT were reported for September 1-6.
The primary destinations were China (175,800 MT), Egypt (66,000 MT), Japan (29,300 MT), Costa Rica (18,000 MT), and Taiwan (14,900 MT).
Soybean futures closed 43 to 44 cents higher on Wednesday, extending gains made throughout the day session as the market responded quickly to USDA’s lowered production and ending stocks estimates. On Thursday futures traded 3 to 4 cents lower after Wednesday's rally.
| REPORT |
THIS WEEK |
LAST WEEK |
DIFFERENCE |
| Sales |
2,645,023 |
5,146 |
2,639,877 |
| SALES |
10 WEEKS |
27 WEEKS |
THIS YEAR |
| Average |
425,560 |
448,811 |
489,786 |
| High |
2,645,023 |
2,645,023 |
2,645,023 |
| Low |
5,146 |
5,146 |
-10,087 |
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