Sep 20, 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.

Corn Exports Increase to Highest Level in Six Weeks

Aug 21, 2014

U.S. corn exports increased over 50% from last week and reached their highest level in six weeks. Wheat sales also increased from last week and have increased seven out of the past ten weeks. Soybean exports decreased. Soybean sales reported a reduction this week for the first time since April. Corn sales rebounded out of the red following the sales reduction reported last week. Wheat sales declined. 


The Pro Farmer crop tour has made several stops this week, and estimates that have come in are at or above USDA estimations for both condition and production. As more information comes in it is beginning to look like the record breaking production estimates may become reality. With record breaking expected production this year the majority of the concern has been on grain prices, but as we get closer to harvest logistical concerns will also be a major issue.

Weekly U.S. net corn sales for the week ending August 14th in the 2013/2014 marketing year were 99,900 metrics tons (MT), reporting a net sales increase following last week’s reduction. Increases were reported from Egypt, South Korea, Colombia, Mexico, Japan, and Canada. Decreases were reported from unknown destinations, China, El Salvador, and Morocco. Exports were 1,144,300 MT, a 59% increase from the prior week and a 14% increase from the prior 10-week average. The primary destinations were South Korea, Mexico, Japan, Egypt, Colombia, Costa Rica, and Morocco

Weekly net soybean sales in the 2013/2014 marketing year were a reduction of 89,600 MT, the second sales reduction of the year for soybeans. Increases were reported from Japan, Indonesia, Taiwan, and Thailand. Decreases were reported from China, and unknown destinations. Exports were 93,400 MT, a 36% decrease from the prior week’s marketing year low and a 23% decrease from the prior 10-week average. Primary destinations were Mexico, Indonesia, Japan, and Barbados.

Weekly net wheat sales for the week ending August 14th in the 2014/2015 marketing year were 209,200 MT, a 38% decrease from the previous week and a 56% decrease from the prior 10-week average. Increases were reported from the Philippines, Nigeria, Japan, Ecuador, Mexico, and Honduras. Decreases were reported from Brazil, unknown destinations, and Peru. Exports were 532,000 MT, a 6% increase from the prior week and a 19% increase from the prior 10-week average. Primary destinations were the Philippines, Peru, Nigeria, Japan, Mexico, and Ecuador.
 
8 21 14 Sales
Source: USDA Foreign Agricultural Service
 
8 21 14 Exports
Source: USDA Foreign Agricultural Service

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