Sep 17, 2014
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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: Soybean Sales Increase for Second Week in a Row

May 22, 2014

Sales increased for corn, soybeans, and wheat which marked the first time since the end of February that all three crops reported week-to-week increases. Corn sales continued to rebound following a steep decline at the beginning of May. Corn exports increased following the decline reported last week. Corn exports have not increased in consecutive weeks since March. Soybean and wheat exports declined, but stayed within proximity to their respective four-week average.

Planting progress is expected to kick into high gear this week. The northern Corn Belt, an area that has lagged behind their five-year planting average due to persistent cold and wet weather, expects good weather in the coming week. Early indications put Monday’s planting progress report for corn at 80%, the five-year average is 88%. Rain is expected in the south western Great Plains this week and into next. Despite the forecasts, farmers in the wheat growing regions of Kansas and Oklahoma remain pessimistic, suggesting the moisture is too little and too late to help an area that was ravaged by cold this winter and drought throughout the past two years.

Weekly U.S. net corn sales for the week ending May 15th in the 2013/2014 marketing year were 507,900 metrics tons (MT), a 48% increase from the previous week, but a 29% decrease from the prior 10-week average. Increases were reported from South Korea, Mexico, Colombia, Taiwan, the Dominican Republic, and Guatemala. Decreases were reported from Japan, unknown destinations, Egypt, China, and the French West Indies. Exports were 1,023,300 MT, a 13% increase from the prior week, but a 4% decrease from the prior 10-week average. The primary destinations were South Korea, Japan, Colombia, Mexico, Taiwan, Egypt, and Guatemala.

Weekly net soybean sales were 164,400 MT, a 123% increase from the previous week and a 178% increase from the 10 week average. Increases were reported from Mexico, Indonesia, Taiwan, unknown destinations, Venezuela, and Japan. Decreases were not reported. Exports were 204,900 MT, a 24% decrease from the prior week and a 61% decrease from the prior 10-week average. Primary destinations were Mexico, Japan, Indonesia, China, and Taiwan.

Weekly net wheat sales were 142,000 MT, a 159% increase from the previous week, but a 53% decrease from the prior 10-week average. Increases were reported from Taiwan, Ecuador, Brazil, Algeria, South Korea, and Venezuela. Decreases were reported from unknown destinations, Jamaica, Nigeria, and Peru. Exports were 507,500 MT, a 20% decrease from the prior week and a 6% decrease from the prior 10-week average. Primary destinations were Mexico, the Philippines, Thailand, Nigeria, Algeria, Ecuador, and Brazil.

5 22 14 Sales
Source: USDA Foreign Agricultural Service

5 22 14 exports
Source: USDA Foreign Agricultural Service

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