Jul 30, 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: Ukrainian Unrest Catapults Wheat Sales

Apr 17, 2014

Wheat sales rebounded from a marketing year low on the news that civil unrest in Ukraine has split the country. Reports explain that pro-Russian Ukrainians have taken control of several eastern cities, prompting a military response from the Ukrainian government. Global diplomats are fearing Ukraine may fall into a civil war, which would heavily disrupt the production and exportation of their crops, affecting global supply.

Soybean sales continue to decline but total commitments this year have exceeded the USDA's projections. The USDA Crop Progress report released Monday estimated that roughly 3% of corn acres had been planted thus far. That is a 1% increase from the same time last year, but a 3% decrease from the four year average.

Weekly U.S. net corn sales for the week ending April 10rd in the 2013/2014 marketing year were 601,900 metrics tons (MT), a 9% decrease from the previous week and a 43% decrease from the prior 10-week average. Increases were reported from Japan, Israel, South Korea, Taiwan, Costa Rica, Mexico, and Saudi Arabia. Decreases were reported from unknown destinations and China. Exports were 1,111,000 MT, a 9% decrease from the prior week, but a 10% increase from the prior 10-week average. The primary destinations were Japan, Mexico, Colombia, Egypt, Saudi Arabia, Taiwan, and Venezuela.

Weekly net soybean sales were 19,200 MT, a 76% increase from the previous week, but a 92% decrease from the prior 10-week average. Increases were reported from Indonesia, Japan, Taiwan, Egypt, and Mexico. Decreases were reported from unknown destinations, China, and Turkey. Exports were 339,200 MT, a 52% decrease from the prior week and 70% decrease from the prior 10-week average. Primary destinations were Indonesia, China, Egypt, Mexico, Japan, and Taiwan.

Weekly net wheat sales were 438,000 MT, a 948% increase from the previous week and a 3% increase from the prior 10-week average. Increases were reported from Brazil Peru, Egypt, Mexico, Malaysia, unknown destinations, and Japan. Decreases were reported from Nigeria. Exports were 556,300 MT, a 0.5% increase from the prior week and an 18% increase from the prior 10-week average. Primary destinations were Japan, Mexico, Egypt, Brazil, the Philippines, and Malaysia.

4 17 14 Sales
Source: USDA Foreign Agricultural Service

4 17 14 Exports
Source: USDA Foreign Agricultural Service

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