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Summary

  • U.S. wheat sales declined sharply reaching a marketing year low and have declined nine out of the last 10 weeks.
  • Corn sales and export levels declined, but reported levels are well above those seen in 2013 and 2012.
  • Soybean sales increased slightly and have been on the rebound following the marketing year low reported for the week ending March 20th.

U.S. wheat sales declined sharply reaching a marketing year low and have declined nine out of the last ten weeks. Wheat exports increased slightly from the past week. Corn sales and export levels declined, but reported levels are well above those seen in 2013 and 2012.

Soybean sales increased slightly and have been on the rebound following the marketing year low reported for the week ending March 20th. Soybean exports increased for only the third time in the past ten weeks, but they have been well above levels for this time in previous years. Over 40 million metric tons of soybeans have been exported thus far in the 2013/2014 marketing year, a 22% increase from this time last year.

Weekly U.S. net corn sales for the week ending April 3rd in the 2013/2014 marketing year were 658,700 metrics tons (MT), a 31% decrease from the previous week and a 43% decrease from the prior 10-week average. Increases were reported from South Korea, Japan, Colombia, Israel, Guatemala, Costa Rica and Egypt. Decreases were reported from unknown destinations, China and Brazil. Exports were 1,217,400 MT, a 15% decrease from the prior week, but a 23% increase from the prior 10-week average. The primary destinations were Japan, Egypt, Mexico, South Korea, Colombia, Taiwan and Venezuela.

Weekly net soybean sales were 79,100 MT, a 19% increase from the previous week, but a 72% decrease from the prior 10-week average. Increases were reported from Mexico, South Korea, Taiwan, Japan and Indonesia. Decreases were reported from unknown destinations. Exports were 700,400 MT, a 6% increase from the prior week and 45% decrease from the prior 10-week average. Primary destinations were China, Japan, Mexico, Egypt, Indonesia and South Korea.

Weekly net wheat sales were 41,800 MT, an 88% decrease from the previous week and a 92% decrease from the prior 10-week average. Increases were reported from the Philippines, Mexico, Peru, Algeria, Brazil, Guatemala and Indonesia. Decreases were reported from unknown destinations and Vietnam. Exports were 553,600 MT, a 6% decrease from the prior week and a 20% increase from the prior 10-week average. Primary destinations were Nigeria, Peru, Mexico, Thailand, The Philippines and Guatemala.

Source: USDA Foreign Agricultural Service

Source: USDA Foreign Agricultural Service

Source: USDA Weekly Exports: Wheat Sales Hit Marketing Year Low