USDA Weekly Export Sales

A day later than normal due to the Thanksgiving Day holiday, the USDA have reported the following weekly export sales and shipments for the period November 13-19, 2009:

Corn

Net 2009/10 sales of 1,223,600 MT - a marketing-year high - were up noticeably from the previous week and from the prior 4-week average. The main homes were Mexico (664,400 MT), Japan (286,400 MT) and South Korea (119,000 MT). There were also net sales of 402,900 MT for delivery in 2010/11 which were mostly for Mexico (352,600 MT). That gives us total weekly sales of 1,626,500 MT, well above trade estimates for combined sales of 500,000 and 700,000 MT.

Corn exports were 627,900 MT with Japan (248,300 MT) and Mexico (122,100 MT) the leading destinations.

Soybeans

Net sales of 1,135,300 MT were down 16 percent from the previous week, but up 23 percent from the prior 4-week average. The primary destinations were China (859,800 MT), Turkey (109,000 MT), Germany (75,200 MT), France (62,000 MT), Egypt (60,000 MT), and the Netherlands (56,400 MT). Trade estimates were for sales of 800,000 to 1,100,000MT.

Actual exports of a stunning 2,434,500 MT were up 41 percent from the previous week and 53 percent from the prior 4-week average. The primary destination was China with a huge 1,835,500 MT.

Wheat

Net sales of 351,200 MT were in line with the prior 4-week average. The main homes were the Philippines (100,200 MT) and Japan (85,700 MT), but also of interest was 36,500 MT to Spain. There were also net sales of 42,400 MT for delivery in 2010/11 to the Philippines. That gives us total weekly sales of 393,600 MT, in line with trade estimates for combined sales of 350,000 and 450,000 MT.

Exports of 416,100 MT were down 15 percent from the previous week and unchanged from the prior 4-week average. The primary destinations were Nigeria (59,000 MT), Iran (54,300 MT), South Korea (40,900 MT), Taiwan (40,100 MT), Mexico (31,100 MT), and Cuba (27,500 MT).