Exports: Corn sales slip again
Corn net sales continued to drop this week, dipping 18 percent to 85,700 MT for 2012-2013, according to the USDA’s Export Sales report. This is also 56 percent below the four-week average and the 10-week low.
Increases reported for Japan (66,100 MT, including 66,600 MT switched from unknown destinations and decreases of 6,800 MT), South Korea (57,400 MT, including 55,000 MT switched from unknown destinations), Mexico (45,800 MT), Venezuela (30,000 MT), and Taiwan (5,100 MT), were partially offset by decreases for unknown destinations (112,400 MT), Honduras (4,300 MT), and Panama (4,000 MT). Net sales of 789,600 MT for 2013/2014 were for China (483,000 MT), unknown destinations (242,000 MT), and Mexico (64,600 MT).
Exports of 354,700 MT were up 31 percent from the previous week and 22 percent from the prior 4-week average. The primary destinations were Japan (212,700 MT), Mexico (58,700 MT), South Korea (57,600 MT), and Venezuela (15,000 MT).
In the market, corn futures remained under pressure on Thursday but rebounded modestly overnight. Persistent old crop tightness probably supported the nearby July future, whereas growing concern about the ability of many Corn Belt farmers to finish spring plantings in a timely fashion boosted the deferred contracts. Delays from this point imply diminished yields and/or acreage shifts to soybeans. July corn rose 3.25 cents to $6.575/bushel early Friday, while December gained 1.75 cents to $5.645.
|REPORT||THIS WEEK||LAST WEEK||DIFFERENCE|
|SALES||10 WEEKS||27 WEEKS||THIS YEAR|
The USDA report also showed that soybean net sales reductions of 108,000 MT for 2012/2013 resulted as increases for Japan (74,600 MT, including 28,800 MT switched from unknown destinations and decreases of 1,700 MT), Venezuela (12,000 MT), Mexico (11,100 MT), Vietnam (9,800 MT), and Indonesia (6,000 MT), were more than offset by decreases for China (207,500 MT) and unknown destinations (28,800 MT).
Net sales of 756,600 MT for 2013/2014 were primarily for China (587,000 MT), unknown destinations (128,000 MT), Italy (30,000 MT), and Mexico (10,900 MT). Exports of 112,500 MT were up 12 percent from the previous week, but down 44 percent from the prior 4-week average. The primary destinations were Japan (52,200 MT), Indonesia (17,400 MT), Mexico (11,700 MT), Taiwan (10,100 MT), and Vietnam (9,800 MT).
- Boxers or Briefs? Underwear buried to demonstrate unhealthy soil
- Tire makers race to turn dandelions into rubber
- Toro releases guide for using micro-sprinklers for IPM
- USDA to fund $25 million in value-added producer grants
- Crop futures mostly higher, livestock prices stabilizing
- Suppress Palmer pigweed with a ryegrass cover crop
- Deere to lay off more than 600 at four U.S. plants
- Slow pace of rail recovery stirs fear of future woes
- The four pillars of seeing opportunities in problems
- New DuPont Afforia herbicide introduced for soybeans
- Cooperative exits retail and automotive business
- RTK brings higher level of accuracy to farmers
- No El Niño in 2014? Drought-weary California in trouble
- Suspected Bt corn rootworm resistance in Pennsylvania
- BioNitrogen to build second fertilizer plant in Texas
- Commentary: Setting the record straight on 'Waters of the U.S.'
- Soybean aphid numbers on the rise
- Solar energy jobs increase, wind power decrease