Exports: Corn keeps climbing for third week

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

The days of net sale reductions are behind corn exports for now. In the latest “U.S. Export Sales” report, the USDA shows corn climbing for its third consecutive week to 640,100 metric tons (MT) for 2013/2014, up 46 percent from last week.

These sales were reported for Mexico (390,600 MT), China (130,500 MT, including 55,000 MT switched from unknown destinations), Guatemala (31,200 MT, including 17,700 MT switched from unknown destinations), Japan (17,600 MT, including 12,800 MT switched from unknown destination and decreases of 7,100 MT), and Honduras (13,300 MT). 

Exports of 479,100 MT were primarily to Mexico (189,600 MT), China (118,600 MT), Japan (63,600 MT), Venezuela (36,500 MT), and Guatemala (17,700 MT). 

On Wednesday, surging wheat prices boosted corn futures, and the ongoing progress in the current harvest is boosting country corn supplies. Sliding soybean prices undercut corn Thursday morning. December corn sank 3.0 cents to $4.5175/bushel around dawn Thursday, and May dipped 3.25 cents to $4.7225.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 640,139 437,384 202,755
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 257,027 233,043 190,570
High 640,139 640,139 640,139
Low 58,187 58,187 -113,214
 
 
Chart

The USDA also showed that soybean net sales of 2,816,800 MT for 2013/2014 were reported for China (2,293,100 MT, including 60,000 MT switched from unknown destinations and decreases of 15,300 MT) unknown destinations (214,500 MT), Indonesia (104,200 MT, including 72,500 MT switched from unknown destination and decreases of 5,000 MT), and Egypt (60,000 MT). 

Exports of 442,500 MT were primarily to China (295,100 MT), Indonesia (83,500 MT), Japan (29,200 MT), and Mexico (24,900 MT). 

News of a sizeable export sale supported the soy complex on Wednesday, and strength from the wheat marked and bargain hunting in the bean pit powered prices moderately higher. Chinese sales depressed the soy complex in early trade on Thursday as Chinese officials reportedly sold a substantial amount of soybeans from state reserves early in the morning. This suggests diminished short-term import demand.

November soybeans fell 8.25 cents to $13.135/bushel in early Thursday action, while October soyoil slipped 0.17 cents to 41.65 cents/pound, and October soymeal sagged $2.9 to $415.7/ton.


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...


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Speed King Honeycomb BeltVeyors

CrustBuster/SPEED KING Inc. has a full line up of Honeycomb style BeltVeyors that offer high capacity, greater discharge height with ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form