USDA Weekly Export Sales
The USDA today reported on weekly export sales for the week ended July 2nd, sales were as follows:
Corn: 1,164,600 MT in total, split 749,200 MT 2008/09; 415,400 MT 2009/10. Trade expectations were for 800,000-1 MMT. The main corn buyers were Japan, South Korea & Egypt.
Soybeans: 1,228,600 MT in total, split 287,000 MT 2008/09; 941,600 MT 2009/10. Trade expectations were 800,000-1.1 MMT. For soybeans the main feature undoubtedly has to be China booking 283,500 MT of old crop plus a further 830,000 MT of new crop. They keep saying that old crop sales are drying up and China will go away, but not on this evidence.
Wheat: 584,200 MT against expectations of 250,000-400,000 MT. Wheat also came in well above expectations, which may reinforce the opinion that wheat sales are due a pick-up.
Very respectable numbers all round, all coming in above trade expectations.
For the actual exports themselves corn was solid at 967,900 MT, the primary destinations being South Korea (281,900 MT), Japan (253,000 MT) and Mexico (131,000 MT). Soybean exports were 417,900 MT, the primary destinations were Mexico (127,200 MT), China (115,500 MT) and Egypt (66,000 MT). For wheat exports were 368,100 MT, the primary destinations were Nigeria (67,300 MT), Iran (58,900 MT), Egypt (57,700 MT) and Taiwan (44,500 MT).
Corn: 1,164,600 MT in total, split 749,200 MT 2008/09; 415,400 MT 2009/10. Trade expectations were for 800,000-1 MMT. The main corn buyers were Japan, South Korea & Egypt.
Soybeans: 1,228,600 MT in total, split 287,000 MT 2008/09; 941,600 MT 2009/10. Trade expectations were 800,000-1.1 MMT. For soybeans the main feature undoubtedly has to be China booking 283,500 MT of old crop plus a further 830,000 MT of new crop. They keep saying that old crop sales are drying up and China will go away, but not on this evidence.
Wheat: 584,200 MT against expectations of 250,000-400,000 MT. Wheat also came in well above expectations, which may reinforce the opinion that wheat sales are due a pick-up.
Very respectable numbers all round, all coming in above trade expectations.
For the actual exports themselves corn was solid at 967,900 MT, the primary destinations being South Korea (281,900 MT), Japan (253,000 MT) and Mexico (131,000 MT). Soybean exports were 417,900 MT, the primary destinations were Mexico (127,200 MT), China (115,500 MT) and Egypt (66,000 MT). For wheat exports were 368,100 MT, the primary destinations were Nigeria (67,300 MT), Iran (58,900 MT), Egypt (57,700 MT) and Taiwan (44,500 MT).
