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Farmland Forecast

RSS By: Marc Schober, AgWeb.com

Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.

USDA Weekly Exports: China Continues Creating Market Uncertainty

Jun 12, 2014
The Chinese have suspended U.S. import permits for Dried Distiller Grains (DDG’s) a high protein animal feed that is a byproduct of ethanol production from corn. The move was reported as "Temporary" by the USDA yesterday, they expect exports to China to continue by the end of the month. The suspension piles a long list of setbacks for U.S. corn imports into China over the past eight months due to China not accepting the corn trait MIR-162.
 
Wheat and soybean sales increased significantly from last week’s report both increasing over 100%. Corn sales fell for the second consecutive week. Exports were down for corn, soybeans, and wheat this week.
 
Weekly U.S. net corn sales for the week ending June 5th in the 2013/2014 marketing year were 409,700 metrics tons (MT), a 26% decrease from the previous week and a 31% decrease from the prior 10-week average. Increases were reported from Japan, Egypt, Mexico, Vietnam, and Colombia. Decreases were reported from unknown destinations, Guatemala, and South Korea. Exports were 1,070,500 MT, an 8% decrease from the prior week and a 15% decrease from the prior 10-week average. The primary destinations were Japan, Mexico, Egypt, Taiwan, Colombia, South Korea, and Vietnam.
 
Weekly net soybean sales in the 2013/2014 marketing year were 86,700 MT, a 110% increase from the previous week and a 64% increase from the 10 week average. Increases were reported from Indonesia, Mexico, Taiwan, Vietnam, and the Philippines. Decreases were reported from unknown destinations. Exports were 147,100 MT, a 31% decrease from the prior week and a 52% decrease from the prior 10-week average. Primary destinations were Mexico, Indonesia, Japan, Venezuela, and Taiwan.
 
Weekly net wheat sales for the week ending June 5th in the 2014/2015 marketing year were 570,100 MT. A total of 2,120,600 MT sales were carried over from the 2013/2014 marketing year. Exports of the 2013/2014 marketing year were calculated at 30,113,000 MT, a 14% increase from the prior year. Exports to start the 2014/2015 Marketing year were 570,100 MT. Primary destinations were Brazil, Japan, Indonesia, Taiwan, and South Korea.
 
6 12 14 Sales
Source: USDA Foreign Agricultural Service
 
6 12 14 exports
Source: USDA Foreign Agricultural Service
 
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