Sep 18, 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: Wheat Closes 2013/14 Marketing Year

Jun 05, 2014

Wheat closed the 2013/2014 marketing year with a marketing year low for sales. Corn and soybean sales were also down. Soybean exports increased significantly following consecutive weeks of decline. Corn and wheat exports both decreased.

The USDA Crop Progress report released this week showed significant improvement in corn and soybean planting across the U.S. Emergence for both crops was also at or above the five-year average. Wheat conditions remained stable, but yield expectations are well below average. Recent rain in wheat growing areas has arrived too late in the drought stricken Wheat Belt.

Weekly U.S. net corn sales for the week ending May 29th in the 2013/2014 marketing year were 550,700 metrics tons (MT), a 11% decrease from the previous week and a 19% decrease from the prior 10-week average. Increases were reported from Japan, Colombia, Egypt, South Korea, Vietnam, and Portugal. Decreases were reported from unknown destinations, and China. Exports were 1,159,500 MT, a 4% decrease from the prior week and an 8% decrease from the prior 10-week average. The primary destinations were Japan, Colombia, Mexico, South Korea, Egypt, Taiwan, and Vietnam.

Weekly net soybean sales were 41,300 MT, a 32% decrease from the previous week and a 51% decrease from the 10 week average. Increases were reported from Japan, Mexico, Taiwan, Canada, and Indonesia. Decreases were reported from unknown destinations. Exports were 213,400 MT, a 79% increase from the prior week, but a 41% decrease from the prior 10-week average. Primary destinations were Mexico, Japan, South Korea, Indonesia, and Taiwan.

Weekly net wheat sales were 2,000 MT, a 98% decrease from the previous week and a 99% decrease from the prior 10-week average. Increases were reported from Brazil, Taiwan, Ghana, Congo, Nigeria, and Senegal. Decreases were reported from unknown destinations, South Korea, and Italy. Exports were 493,000 MT, a 7% decrease from the prior week and an 11% decrease from the prior 10-week average. Primary destinations were South Korea, Brazil, Taiwan, Mexico, Nigeria, and Venezuela.

6 5 14 Sales
Source: USDA Foreign Agricultural Service

6 4 14 exports
Source: USDA Foreign Agricultural Service

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