Exports: Corn exports climb 58%

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According to the USDA’s latest Weekly Export Sales report, corn net sales of 573,700 metric tons (MT) for 2013-2014 were up 58 percent from the previous week and up noticeably from the four-week average. 

Increases were reported for Japan (246,900 MT, including 90,300 MT switched from unknown destinations and decreases of 26,700 MT), Colombia (94,300 MT, including 40,000 MT switched from unknown destinations), Taiwan (42,900 MT), the Philippines (39,900 MT), Mexico (37,700 MT), and Morocco (30,000 MT). 

Decreases were reported for unknown destinations (51,400 MT). 

Corn net sales of 495,000 MT for 2014-2015 were reported primarily for unknown destinations (198,900 MT), Japan (150,400 MT), and Mexico (108,200 MT).  Exports of 907,900 MT were down 25 percent from the previous week and 16 percent from the prior 4-week average.  The primary destinations were Japan (276,300 MT), Mexico (231,200 MT), South Korea (116,400 MT), Spain (64,900 MT), Colombia (43,700 MT), Peru (32,400 MT), and Guatemala (29,300 MT). 

Doane Advisory Service reports little movement in corn futures overnight into Thursday. September corn slipped 1.0 cent to $3.725/bushel early Thursday morning, while December lost 1.25 cents to $3.855.

 

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 573,725 362,998 210,727
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 409,044 749,607 728,381
High 621,311 1,837,865 1,837,865
Low 109,031 109,031 109,031
 
 
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The report also showed that soybean net sales of 37,700 MT for 2013-2014 were down 33 percent from the previous week and 71 percent from the prior 4-week average. 

 Increases were reported for Taiwan (44,000 MT), China (6,400 MT), Thailand (5,600 MT), Indonesia (5,500 MT), and Vietnam (5,500 MT).  Decreases were reported for unknown destinations (28,500 MT) and Mexico (5,200 MT).  Net sales of 561,000 MT for 2014/2015 were primarily for China (365,000 MT) and unknown destinations (149,500 MT).  Decreases were reported for Japan (16,800 MT). 

Soybean exports of 94,800 MT were up 6 percent from the previous week, but down 25 percent from the prior 4-week average.  The primary destinations were Mexico (42,000 MT), Japan (28,000 MT), Indonesia (19,500 MT), and Taiwan (2,100 MT). 

According to Doane Advisory Service, the soy complex was seen mixed in early Thursday trading. August soybean futures bounced 1.5 cents to $11.8875/bushel shortly after sunrise Thursday, while November futures sagged 2.0 cents to $11.00. August soyoil edged up 0.06 cents to 36.89 cents/pound, while August soymeal added $0.7 to $384.4/ton.

EPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 37,658 56,261 -18,603
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 97,585 205,012 195,922
High 317,157 772,736 772,736
Low 37,658 782 -16,421
 
 
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