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Big grain terminal at seaport. Loading grain crops on ship from elevators at the berth. artiemedvedev/iStock/GettyImagesPlus

Weekly Export Sales: Turning over a new leaf

Corn and soybean exports head into a new marketing year.

Corn and soybean exports welcome a fresh marketing year, which began Sept. 1, with a set of sales that were neither excellent nor dismal; while wheat exports ticked slightly higher week-over-week but failed to match its prior four-week average. 

Corn exports tallied 30.5 million bushels in new crop sales last week, with Mexico (8.6 million bushels) as the top destination. Other significant destinations included Colombia, Japan, Peru and Taiwan. Another 115.2 million bushels old crop sales were carried over from the prior 2017/18 marketing year, which concluded Aug. 31.

Corn export shipments totaled a modest 10.4 million bushels to wrap up the old marketing year, but that brought cumulative totals for 2017/18 to 2.263 billion bushels, which bested the prior marketing year by 4%. For the period ending August, Colombia was the top destination, with 4.1 million bushels. Other top destinations included Mexico, Peru, Guatemala and El Salvador. For the period of Sept. 1-6, Japan and Mexico were the top destinations, for a total of 28.6 million bushels. 

Soybean export sales reached 25.5 million bushels in new crop sales, with Egypt (7.2 million bushels) as the week’s top destination. Other top destinations included Japan, Iran, the Netherlands and Pakistan. Another 89.3 million bushels in old crop sales were carried over from the 2017/18 marketing year, which concluded Aug. 31.

Soybean export shipments added another 8.9 million bushels to conclude the 2017-18 marketing year, with accumulated totals of 2.072 billion bushels down 3% from the prior marketing year. Export shipments between Sept. 1-6 added an additional 32.9 million bushels, with Egypt, Iran, Japan and the Netherlands as the top destinations. 

Wheat export sales topped 14.2 million bushels last week, which inched 2% ahead of the prior week’s total, but slipped 16% below the prior four-week average. Taiwan (4.1 million bushels) was the top destination, followed by Italy, Nigeria and Algeria. 

Wheat export shipments of 15.8 million bushels spiked 50% above the prior week’s total and stayed 6% ahead of the prior four-week average. Sri Lanka (2.4 million bushels) was the top destination, followed by Thailand, Nigeria, Japan and Taiwan.

TAGS: USDA
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