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Following a marketing year low last week, soybean sales increased by over 250% and corn rebounded over 20%. Winter weather conditions continues to hinder transportation of grains from the Midwest to the coasts.

Weekly U.S. net corn sales for the week ending February 20th in the 2013/2014 marketing year were 840,800 metrics tons (MT), a 22% increase from the previous week, but a 13% decrease from the prior 10-week average. Increases were reported from Japan, Colombia, Peru, The Dominican Republic, and Egypt. Decreases were reported from China. Exports were 853,100 MT, a 14% increase from the prior week and 2% increase from the prior 10-week average. The primary destinations were Japan, Mexico, Peru, Colombia, and South Korea.

Weekly net soybean sales were 327,700 MT, a 280% increase from the previous week, but a 35% decrease from the prior 10-week average. Increases were reported from China, Mexico, the Netherlands, Germany, and Spain. Decreases were reported from unknown destinations, Russia, and Canada. Exports were 1,796,900 MT, a 34% increase from the prior week and 14% increase from the prior 10-week average. Primary destinations were China, the Netherlands, Germany, Saudi Arabia, and Spain.

Weekly net wheat sales were 365,000 MT, a 14% decrease from the previous week and a 24% decrease from the prior 10-week average. Increases were reported from unknown, destinations, the Philippines, Thailand, Brazil, and Mexico. Decreases were reported from Uruguay, and Peru. Exports were 547,400 MT, a 97% increase from the prior week and a 36% increase from the prior 10-week average. Primary destinations were the Nigeria, Peru, Brazil, South Korea, and the Philippines.

Source: USDA Foreign Agricultural Service

Source: USDA Foreign Agricultural Service

Source: USDA Weekly Exports: Net Corn And Soybean Sales Rebound From Last Week