USDA Weekly Exports: Corn Sales Dip Below 10-Week Average

Includes: CORN, DBA
by: T. Marc Schober

Weekly U.S. net corn sales for the week ending August 8th in the 2012/2013 marketing year were reduced by 59,100 metric tons (MT), a 135% drop from the prior 10-week average. Exports were reported at 377,400 MT, up 7% from the prior four week average, going primarily to Japan, Mexico, Guatemala and Venezuela. For the 2013/2014 marketing year week ending August 8th, net corn sales were 836,100 MT, primarily sold to unknown destinations, Mexico and Japan.

Weekly net soybean sales decreased by 120% from the previous 10-week average with a reduction of 10,500 MT for the 2012/2013 marketing year, mainly due to decreases from unknown destinations and South Korea. Exports were up 90% from last week, at 94,100 MT, going primarily to Japan, Mexico, Vietnam, Indonesia and Taiwan. In the 2013/2014 marketing year ending August 8th, weekly net sales were reported at 1,893,400 MT, primarily sold to China, unknown destinations, and Japan.

Weekly net sales of wheat were down 34% from the prior four-week average at 490,100 MT for delivery in the 2013/2014 marketing year ending August 8th, mainly due to sales in Brazil, Sri Lanka, Nigeria, China, Japan and Yemen. Exports of 709,900 MT went primarily to Brazil, China, Mexico, Chile, Sri Lanka, Nigeria and South Korea.

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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.

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