This morning’s weekly export sales report was in line with expectations for corn, soybeans, and wheat. Here’s a breakdown from the USDA’s weekly report.
Corn: Net sales of 1,283,400 MT for 2023/2024 were up 16 percent from the previous week and 19 percent from the prior 4-week average. Increases primarily for Japan (346,100 MT, including 110,000 MT switched from unknown destinations and decreases of 70,700 MT), Mexico (223,000 MT, including decreases of 1,000 MT), Taiwan (191,900 MT), China (133,000 MT, including 65,000 MT switched from unknown destinations), and Saudi Arabia (132,400 MT, including 60,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (6,700 MT) and Nicaragua (400 MT). Exports of 1,258,600 MT were up 9 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to Mexico (467,000 MT), Japan (313,100 MT), Colombia (164,400 MT), Taiwan (76,700 MT), and China (68,000 MT).
Soybeans: Net sales of 376,000 MT for 2023/2024 were down 39 percent from the previous week, but up 55 percent from the prior 4-week average. Increases primarily for China (256,100 MT, including 187,000 MT switched from unknown destinations and decreases of 4,100 MT), Germany (142,700 MT), Indonesia (73,300 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), the Netherlands (69,000 MT, including 60,000 MT switched from unknown destinations), and Mexico (66,700 MT, including decreases of 34,800 MT), were offset by reductions for unknown destinations (310,800 MT). Net sales of 94,300 MT for 2024/2025 were reported for unknown destinations (60,000 MT) and Mexico (34,300 MT). Exports of 947,900 MT were down 33 percent from the previous week and 24 percent from the prior 4-week average. The destinations were primarily to China (400,300 MT), Germany (142,700 MT), Mexico (97,200 MT), Indonesia (79,800 MT), and the Netherlands (69,000 MT).
Wheat: Net sales of 83,800 metric tons (MT) for 2023/2024–a marketing-year low–were down 69 percent from the previous week and 71 percent from the prior 4-week average. Increases primarily for Mexico (159,100 MT, including decreases of 11,000 MT), the Philippines (49,200 MT), Japan (24,700 MT), Colombia (19,500 MT, including 20,000 MT switched from unknown destinations and decreases of 500 MT), and Guatemala (17,700 MT, including decreases of 700 MT), were offset by reductions for unknown destinations (169,000 MT) and China (120,100 MT). Net sales of 81,300 MT for 2024/2025 were reported for the Philippines (60,000 MT), Honduras (11,300 MT), and Mexico (10,000 MT). Exports of 453,500 MT were up 23 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to the Philippines (133,200 MT), China (119,900 MT), Mexico (91,900 MT), Colombia (19,500 MT), and Jamaica (17,500 MT).
Leave a Reply