Corn, Soybean and Wheat Sales Exceed Expectations

April 5, 2012

By: Meghan Pedersen, Pro Farmer Associate Editor

The Weekly Export Sales Report for the week ended March 29, 2012, definitely gave bulls something to rally around this morning, with most categories coming in above expectations. Corn and soybean export saless topped expectations and 1 million metric tons. Wheat export sales were also above the top of expecations, as were soymeal export sales. Net sales reductions for soyoil and cotton were disappointing, but beef sales improved notably from last week.

USDA Weekly Export Sales Report
Week Ended March 29, 2012

Corn

Actual Sales (in metric tons -- MT)

Combined: 1,122,700 MT
2011-12: 937,600 MT
2012-13: 185,100 MT

Trade Expectations

400,000 to 700,000 MT

Weekly Sales Details

Net sales of 937,600 MT were up noticeably from the previous week and 65 percent from the prior 4-week average. Increases reported for China (394,000 MT, including 60,000 MT switched from unknown destinations), Mexico (267,200 MT, including 38,100 MT switched from unknown destinations and decreases of 7,500 MT), Japan (166,400 MT, including 112,000 MT switched from unknown destinations and decreases of 34,800 MT), Colombia (55,000 MT), South Korea (33,500 MT), and Venezuela (29,500 MT, including 5,000 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (82,300 MT). Net sales of 185,100 MT for delivery in the 2012-13 marketing year were primarily reported for unknown destinations (120,000 MT), Japan (30,400 MT), and Honduras (20,000 MT).

Weekly Export Details