Exports: Corn sales jump 64% higher

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Corn net sales made significant strides this week, climbing by 64 percent from last week to 133,400 metric tons (MT). According to the USDA, this is well above last week’s report of 81,500 MT but still 30 percent below the 10-week average.

The USDA showed in its weekly “U.S. Export Sales report” that these net sales resulted as increases for Japan (132,400 MT, including 43,500 MT switched from unknown destinations), Mexico (32,600 MT), Venezuela (30,000 MT, switched from unknown destinations), Guatemala (10,400 MT, switched from unknown destinations), and El Salvador (8,500 MT, switched from unknown destinations), were partially offset by decreases for unknown destinations (72,300 MT) and Jamaica (14,500 MT). 

 Net sales of 77,100 MT for 2013/2014 were for Mexico (80,400 MT), Taiwan (4,500 MT), China (4,000 MT), and Colombia (4,000 MT).  Decreases were reported for Jamaica (8,300 MT) and Panama (7,500 MT). 

Exports of 322,400 MT were up 39 percent from the previous week and 6 percent from the prior 4-week average.  The primary destinations were Mexico (118,300 MT), Japan (93,000 MT), Venezuela (48,000 MT), and Panama (30,100 MT). 

On Wednesday corn futures resumed their early-week rally, but as forecasts point to hot and dry conditions in the Corn Belt later this month, the late-planted crops could be stressed. Overnight, U.S. dollar strength and pessimism depressed corn futures and the commodity sector Wednesday night.  July corn dropped 6.0 cents to $6.7625/bushel early Thursday morning, while December tumbled 8.0 cents to $5.625.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 133,422 81,499 51,923
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 189,251 196,525 201,743
High 400,347 400,347 400,347
Low 81,499 12,622 -49,809
 
 
Chart

The report also showed soybean sales on the upswing, too. Soybean net sales of 52,600 MT were up 57 percent from the previous week and 34 percent from the prior 4-week average. 

Increases were reported for Mexico (36,900 MT), Taiwan (6,000 MT), Canada (3,000 MT), Indonesia (2,600 MT), and Vietnam (2,200 MT).  Net sales of 108,500 MT for 2013/2014 were primarily for China (55,000 MT), Mexico (30,000 MT), and unknown destinations (16,000 MT). 

Exports of 92,700 MT--a marketing-year low--were down 28 percent from the previous week and 20 percent from the prior 4-week average.  The primary destinations were Mexico (45,400 MT), Indonesia (8,800 MT), Taiwan (8,800 MT), Vietnam (6,900 MT), and Venezuela (6,000 MT). 

Soybean prices closed higher on Wednesday as tight old crop supplies offering continued support. The soybean complex proved vulnerable to the general commodity drop suffered overnight as the U.S. dollar strength raises the cost of exported products to international customers, thereby implying diminished demand. July soybean futures declined 10.0 cents to $15.13/bushel as the sun rose over Chicago Thursday morning, with July soyoil sliding 0.49 cents to 48.86 cents/pound at the same time; July soymeal dipped just $1.9 to $451.7/ton.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 52,613 33,544 19,069
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 63,211 344,361 268,109
High 339,402 1,608,774 1,608,774
Low 15,304 15,304 -206,312
 
 
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tom    
June, 23, 2013 at 09:42 AM

If someone could HELP ME to explain on column "THIS YEAR" last row shows "-206,312" what's "-206,312" signifying SALES 10 WEEKS 27 WEEKS THIS YEAR Average 63,211 344,361 268,109 High 339,402 1,608,774 1,608,774 Low 15,304 15,304 -206,312 - See more at: http://www.porknetwork.com/pork-news/Exports-Corn-sales-jump-64-higher- 212309971.html?page=2#sthash.UzeHXubi.dpuf


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