Weekly Corn, Soybean and Wheat Sales Below Expectations

January 6, 2012

By: Meghan Pedersen, Pro Farmer Reporter

The Weekly Export Sales Report for the week ended Dec. 29, reflected the holidays trimmed export sales even more so than expected. Soymeal was the only category to exceed expectations while soyoil was the only product to meet expectations. Cotton sales also reflected poor demand with a net export sales reduction.

USDA Weekly Export Sales Report
Week Ended Dec. 29, 2011

Corn

Actual Sales (in metric tons -- MT)

Combined: 306,000 MT
2011-12: 299,500MT
2012-13: 6,500 MT

Trade Expectations

350,000 to 550,000 MT

Weekly Sales Details

Net sales of 299,500 MT for the 2011-12 marketing year resulted as increases for China (184,200 MT, including 180,000 MT switched from unknown destinations and decreases of 2,800 MT), Mexico (128,200 MT, including 67,400 MT switched from unknown destinations and decreases of 11,000 MT), Japan (97,100 MT, including 22,500 MT switched from unknown destination and decreases of 1,400 MT), Egypt (20,000 MT), Panama (12,800 MT), and the French West Indies (6,500 MT), were partially offset by decreases for unknown destinations (137,400 MT), Vietnam (10,000 MT), and Costa Rica (5,400 MT). Net sales of 6,500 MT for delivery in 2012/2013 were reported for Japan (4,600 MT) and Canada (1,900 MT). Options exercised to export the commodity from other than the United States were for Mexico (30,000 MT).

Weekly Export Details