USDA Weekly Exports: Corn Sales Well Above 10-Week Average

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

Net corn sales decreased from last week, but are above the 10-week average and are on pace to meet the USDA's projected 2013/2014 U.S. corn exports of 1.45 billion bushels.

Weekly U.S. net corn sales for the week ending January 30th in the 2013/2014 marketing year were 1,700,100 metrics tons (MT), an 8% decrease from the previous week, but 106% increase from the prior 10-week average. Increases were reported from Japan, unknown destinations, Spain, Vietnam, and Taiwan. Decreases were reported from China and Peru. Exports were 747,300 MT, a 26% decrease from the prior week and 14% decrease from the prior 10-week average. The primary destinations were Japan, Taiwan, Mexico, Vietnam, and Venezuela.

Weekly net soybean sales were 577,000 MT, a 17% increase from the previous week, but a 23% decrease from the prior 10-week average. Increases were reported from China, Indonesia, Netherlands, Japan, and Germany. Decreases were reported from unknown destinations and Canada. Exports were 1,508,100 MT, a 29% decrease from the prior week and 11% decrease from the prior 10-week average. Primary destinations were China, Mexico, Taiwan, and the Netherlands.

Weekly net wheat sales were 638,800 MT, a 20% decrease from the previous week, but a 48% increase from the prior 10-week average. Increases were reported from Guatemala, Japan, Brazil, the Philippines, and Mexico. Decreases were reported from the Leeward Windward Islands and Barbados. Exports were 367,900 MT, a 13% decrease from the prior week and a 14% decrease from the prior 10-week average. Primary destinations were the Philippines, Mexico, South Korea, Taiwan, and Chile.

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