Corn Export Sales Top 1 Million Metric Tons

January 26, 2012

By: Meghan Pedersen, Pro Farmer Associate Editor

The Weekly Export Sales Report for the week ended Jan. 19, 2012, confirmed what basis levels in the Gulf have been signaling for the corn market -- export demand is on the rise. On the other hand, soybean export sales were below expectations, though exports topped 1 million metric tons. Wheat sales came in within expectations.

USDA Weekly Export Sales Report
Week Ended Jan. 19, 2012

Corn

Actual Sales (in metric tons -- MT)

Combined: 1,040,600 MT
2011-12: 958,100 MT
2012-13: 82,500 MT

Trade Expectations

650,000 to 850,000 MT

Weekly Sales Details

Net sales of 958,100 MT for the 2011-12 marketing year resulted as increases for Japan (311,900 MT, including 113,600 MT switched from unknown destinations), Mexico (264,100 MT,), South Korea (186,600 MT), Egypt (120,000 MT), Costa Rica (78,100 MT, including 1,300 MT switched from Guatemala), and China (72,800 MT, including 60,000 MT switched from unknown destinations and decreases of 3,700 MT), were partially offset by decreases for unknown destinations (151,200 MT), the Dominican Republic (10,500 MT), and Guatemala (5,900 MT). Net sales of 82,500 MT for delivery in 2012-13 marketing year were reported for Mexico (45,000 MT), Japan (32,500 MT), and Nicaragua (5,000 MT).

Weekly Export Details