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Sales volumes fell last week as grain prices rallied to their highest levels of 2014. Corn and wheat sales were still well above their 10-week average. Exports were at or above levels seen a year ago despite inclement weather across the U.S. slowing transportation.

Weekly U.S. net corn sales for the week ending February 6th in the 2013/2014 marketing year were 1,269,800 metrics tons (MT), a 25% decrease from the previous week, but a 42% increase from the prior 10-week average. Increases were reported from unknown destinations, Colombia, South Korea, Mexico, and Japan. Decreases were reported from China and the United Kingdom. Exports were 952,500 MT, a 24% increase from the prior week and 6% increase from the prior 10-week average. The primary destinations were Mexico, Japan, South Korea, Colombia, and Guatemala.

Weekly net soybean sales were 173,600 MT, a 70% decrease from the previous week and a 74% decrease from the prior 10-week average. Increases were reported from China, Mexico, South Korea, Indonesia, and Colombia. Decreases were reported from unknown destinations. Exports were 1,494,000 MT, a 1% decrease from the prior week and 10% decrease from the prior 10-week average. Primary destinations were China, Mexico, Russia, Bangladesh and South Korea.

Weekly net wheat sales were 597,000 MT, a 7% decrease from the previous week, but a 36% increase from the prior 10-week average. Increases were reported from Japan, Nigeria, Indonesia, Colombia, South Korea, Mexico, and Japan. Decreases were reported from the China and the United Kingdom. Exports were 403,700 MT, a 10% increase from the prior week, but a 6% decrease from the prior 10-week average. Primary destinations were the Mexico, Japan, Venezuela, Taiwan, and Guatemala.

Source: USDA Weekly Exports: Corn And Wheat Sales Remain Strong