USDA: Corn sales stable, soybean sales hit marketing-year low
Angela Bowman, Staff Writer |
August 9, 2012
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According to the USDA's latest U.S. Export Sales report, corn net sales of 174,700 metric tons (MT) for the 2011-2012 marketing year resulted as increases for Japan (196,100 MT, including 102,700 MT switched from unknown destinations), Venezuela (25,500 MT), Mexico (12,300 MT), Guatemala (8,800 MT, including 6,400 MT switched from unknown destinations), and China (5,300 MT), were partially offset by decreases for unknown destinations (89,500 MT).
Net sales of 928,300 MT for delivery in the 2012/2013 marketing year were primarily for Mexico (983,000 MT) and unknown destinations (54,900 MT). Decreases were reported for China (61,000 MT), Panama (22,900 MT), Costa Rica (20,300 MT), and Nicaragua (13,300 MT). Exports of 476,600 MT were down 18 percent from the previous week and 20 percent from the prior 4-week average.
The primary destinations were China (184,200 MT), Japan (147,000 MT), Mexico (68,600 MT), Venezuela (20,000 MT), Costa Rica (13,300 MT), and Taiwan (12,900 MT).
Optional Origin Sales: For MY 2012/2013, outstanding optional origin sales total 390,000 MT, all Mexico.
Corn futures traded higher on Wednesday as anxiety over a prospects for sharply lower production estimates from USDA on Friday sparked renewed buying. On Thursday futures traded 7 to 8 cents higher.
| REPORT |
THIS WEEK |
LAST WEEK |
DIFFERENCE |
| Sales |
174,700 |
178,420 |
-3,720 |
| SALES |
10 WEEKS |
27 WEEKS |
THIS YEAR |
| Average |
141,794 |
456,338 |
477,945 |
| High |
251,822 |
1,331,862 |
1,331,862 |
| Low |
19,274 |
19,274 |
-9,113 |
| |
| |
 |
The report also showed that soybean net sales of 105,200 MT for the 2011/2012 marketing year--a marketing-year low--were down 46 percent from the previous week and 51 percent from the prior 4-week average.
Increases reported for China (59,600 MT, including 55,000 MT switched from unknown destinations and decreases of 2,900 MT), Canada (49,400 MT), Costa Rica (15,800 MT, including 13,000 MT switched from unknown destinations), Vietnam (14,600 MT), and Taiwan (13,700 MT), were partially offset by decreases for unknown destinations (68,000 MT).
Net sales of 195,200 MT for delivery in the 2012/2013 marketing year were primarily for China (106,000 MT), Turkey (55,000 MT), and Mexico (14,000 MT). Exports of 360,400 MT were primarily to China (179,600 MT), Mexico (87,400 MT), Indonesia (26,200 MT), Costa Rica (21,800 MT), Japan (10,100 MT), and Colombia (9,800 MT).
Optional Origin Sales: For MY 2012/2013, outstanding optional origin sales total 55,000 MT, all China.
Soybean futures traded higher on Wednesday, up 15 to 23 cents. On Thursday futures traded 7 to 8 cents higher, pulling back slightly during the overnight session but firmed up as the market prepares for the USDA's WASDE report on Friday.
| REPORT |
THIS WEEK |
LAST WEEK |
DIFFERENCE |
| Sales |
105,159 |
194,034 |
-88,875 |
| SALES |
10 WEEKS |
27 WEEKS |
THIS YEAR |
| Average |
247,154 |
465,276 |
476,196 |
| High |
425,056 |
1,159,407 |
1,159,407 |
| Low |
105,159 |
105,159 |
105,159 |
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