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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 Sales Increase to Highest Level of the Year

Jul 31, 2014

Fluctuating weather forecasts have kept the market on its toes as both corn and soybeans begin to enter crucial stages in their development where precipitation is very important. The six to ten day weather forecast has fluctuated from below average precipitation expectations to above average as farmers anxiously wait for rain. Despite earlier flooding, many areas are in need of some precipitation with many farmers reporting low sub-soil moisture levels.


Wheat sales increased significantly over the past week, reaching their highest mark since October 2013. Corn and soybean sales declined. Exports fell for corn, soybeans, and wheat, the first time that has happened since the beginning of June.

Weekly U.S. net corn sales for the week ending July 24th in the 2013/2014 marketing year were 173,800 metrics tons (MT), a marketing year low. Corn sales saw a 40% decrease from the previous week, and a 57% decrease from the prior 10-week average. Increases were reported from South Korea, Saudi Arabia, Mexico, Peru, Canada, and Morocco. Decreases were reported from Japan, China, unknown destinations and Ireland. Exports were 865,500 MT, a 12% decrease from the prior week and a 21% decrease from the prior 10-week average. The primary destinations were Japan, Mexico, South Korea, Saudi, Arabia, Egypt, Morocco, and Panama.

Weekly net soybean sales in the 2013/2014 marketing year were 187,400 MT, a 17% decrease from the previous week, but a 66% increase from the 10 week average. Increases were reported from China, Taiwan, Indonesia, Colombia, and Mexico. Decreases were reported from unknown destinations. Exports were 105,400 MT, a 35% decrease from the prior week and a 27% decrease from the prior 10-week average. Primary destinations were Mexico, Indonesia, Vietnam, and Thailand.

Weekly net wheat sales for the week ending July 17th in the 2014/2015 marketing year were 801,000 MT, an 81% increase from the previous week and a 150% increase from the prior 10-week average. Increases were reported from Nigeria, Panama, Brazil, Mexico, Japan, and the Philippines. Decreases were reported from the French West Indies. Exports were 419,600 MT a 24% decrease from the prior week and a 10% decrease from the prior 10-week average. Primary destinations were Mexico, Japan, Taiwan, Guatemala, South Korea, and China.

7 31 14 Sales
Source: USDA Foreign Agricultural Service

7 31 14 Exports
Source: USDA Foreign Agricultural Service

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