US export sales show corn slow as wheat, soybeans surpass previous week 

12 Feb 2018 | Tim Worledge

Export sales for wheat and soybeans were up week-on-week and remain in line with last year's sales volumes, while corn exports slowed and lag the 2016/17 marketing year by more than a third, data from the USDA's export sales inspections report revealed Monday.

For corn, the 835,131 mt inspected is a near 24% fall on the previous week and a 33.5% fall on the same point in 2017, leaving corn exports lagging the previous marketing year by 7.5 million mt.

The bulk of US corn exports for the week departed from the US Gulf Coast and the Mississippi, which handled 445,705 mt to the PNW's 224,923 mt, with 115,531 mt leaving from internal loading points – typically crossing into Mexico.

Japan and Mexico were the biggest buyers, with Japan taking 166,404 mt from the PNW and a further 116,417 mt from the US Gulf. 

Wheat export sales inspections came in at 487,902 mt, up by nearly 60,000 mt on the previous week and 163,000 mt higher than the same point of 2017.  

Marketing year exports to date cling close to last year's volumes, lagging just 705,000 mt behind.

The PNW took the bulk of wheat exports for hard red spring wheat, with hard red winter largely departing from the US Gulf – the latter comprising the bulk of US inspections at 231,246 mt.

A wide range of buyers were seen, with Algeria, Morocco and Nigeria picking up volumes, along with substantial exports to Japan, South Korea and China.

Yemen also picked up a 30,000 mt cargo, according to the data.  

Beans reported a healthy 1.3 million mt of export inspections for the week ending February 8, up a slim 15,000 mt on the previous week, and an increase of just over 150,000 mt on the previous year.

While China took all 321,421 mt of the Pacific Northwest exports – as well as a sizeable chunk of US Gulf and South Atlantic loadings – Bangladesh, the Netherlands, Pakistan and Mexico all took in volumes in excess of 50,000 mt.