USDA Weekly Exports: No Surprise, China The Big Buyer

Includes: CORN, SOYB, WEAT
by: T. Marc Schober

Weekly net corn sales were 152,900 MT for the week ending July 11th in the 2012/2013 marketing year, down 17% from the prior 10-week average. Exports were reported at 407,300 MT, a 49% increase from the prior four-week average. Primary destinations of exports were to Japan, Venezuela, Mexico and Costa Rica. For the 2013/2014 marketing year for the week ending July 11th, net sales of corn were 1,590,800 MT primarily to China, unknown destinations, and Japan.

Weekly net soybean sales were increased by 110,600 MT for the 2012/2013 marketing year due to increases from Mexico, Thailand, South Korean, Japan and Taiwan. Exports, 121,300 MT, were down 5% from the previous four-week average. The primary destinations of these exports were Mexico, Japan, Vietnam, Taiwan, and Indonesia. In the 2013/2014 marketing year ending July 11th, weekly net sales were reported at 591,700 MT, primarily from unknown destinations and China.

Weekly net sales of wheat were at 996,600 MT for delivery in the 2013/2014 marketing year ending July 11th, mainly due to sales in China, Brazil, South Korea, Chile, and Indonesia. Exports of 726,000 MT went primarily to Brazil, Mexico, Peru, Indonesia, Guatemala, Japan and Chile.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.