Oct 1, 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.

USDA Weekly Exports: Soybean Exports Hit 2014 Low

Jul 10, 2014

Last week’s USDA Stocks and Acreage report’s did not factor the severe weather seen in pockets of the Corn Belt during the month of June so analysts are eager for Friday’s World Agriculture Supply and Demand Estimates report. Tomorrow’s report will show if the USDA believes the flooding, hail, and strong wind across the Midwest had any significant impact on the overall corn and soybean crops for 2014. Looking forward, high temperatures in July are expected to be below average providing perfect weather for corn pollination, which is expected to start in the next five to seven days.

Corn and wheat sales increased, while wheat sales fell. Exports of corn and wheat increased, while soybean exports fell to their lowest level of 2014.

Weekly U.S. net corn sales for the week ending July 3rd in the 2013/2014 marketing year were 363,000 metrics tons (MT), a 25% increase from the previous week, but a 15% decrease from the prior 10-week average. Increases were reported from South Korea, Japan, Egypt, Taiwan, Venezuela, and Peru. Decreases were reported from unknown destinations, China, Guatemala, and Nicaragua. Exports were 1,207,100 MT, a 33% increase from the prior week and a 6% increase from the prior 10-week average. The primary destinations were Japan, Mexico, South Korea, Taiwan, Venezuela, the Netherlands, Egypt, and Morocco.

Weekly net soybean sales in the 2013/2014 marketing year were 56,300 MT, a 39% increase from the previous week, but a 38% decrease from the 10 week average. Increases were reported from China, Taiwan, Japan, Thailand, and Vietnam. Decreases were reported from unknown destinations. Exports were 89,500 MT, a 29% decrease from the prior week and a 50% decrease from the prior 10-week average. Primary destinations were Mexico, Japan, Indonesia, Thailand, and Taiwan.

Weekly net wheat sales for the week ending July 3rd in the 2014/2015 marketing year were 338,100 MT, a 40% decrease from the previous week, but a 26% increase from the prior 10 week average. Increases were reported from the Philippines, Saudi Arabia, South Korea, Mexico, Brazil, and Nigeria. Decreases were reported from unknown destinations, and the United Arab Emirates. Exports were 394,700 MT an 18% increase from the prior week, but a 23% decrease from the prior 10-week average. Primary destinations were the Philippines, Saudi Arabia, Japan, Brazil, South Korea, Venezuela, Jamaica, and Mexico.

7 10 14 Sales

Source: USDA Foreign Agricultural Service

7 10 14 Exports

Source: USDA Foreign Agricultural Service

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