Corn exports increased to the second highest level of the 2013/2014 marketing year. US Soybeans exports continued to decline consistent with the trend seen over the past month. The quarterly Grain Stocks report released Monday showed domestic stocks of soybean and wheat down in comparison to 2013, while corn stocks were reportedly up 30%. The USDA Prospective Planting report was also released Monday. The report showed a large shift to soybean planted acres, a move that had been speculated by most analysts.
Weekly U.S. net corn sales for the week ending March 27th in the 2013/2014 marketing year were 960,600 metrics tons (MT), a 32% decrease from the previous week and a 16% decrease from the prior 10-week average. Increases were reported from Japan, South Korea, Egypt, Guatemala, Colombia, Taiwan, Saudi Arabia and Mexico. Decreases were reported from China, Honduras and Nicaragua. Exports were 1,425,700 MT, a 16% increase from the prior week and a 54% increase from the prior 10-week average. The primary destinations were Japan, Egypt, Mexico, Colombia, South Korea, Taiwan and Saudi Arabia.
Weekly net soybean sales were 66,200 MT, a 456% increase from the previous week, but an 81% decrease from the prior 10-week average. Increases were reported from Mexico Malaysia, Japan and Indonesia. Decreases were reported from Unknown Destinations. Exports were 659,400 MT, an 8% decrease from the prior week and 52% decrease from the prior 10-week average. Primary destinations were China, Mexico, Turkey, Indonesia and Malaysia.
Weekly net London Wheat sales were 336,400 MT, a 16% decrease from the previous week and a 34% decrease from the prior 10-week average. Increases were reported from Indonesia, Egypt, Nigeria, Brazil and Unknown destinations. Decreases were reported from Guatemala. Exports were 523,100 MT, a 1% decrease from the prior week, but a 16% increase from the prior 10-week average. Primary destinations were Japan, Mexico, Indonesia, Egypt, South Korea and Nigeria. 
Source: USDA Foreign Agricultural Service
Source: USDA Foreign Agricultural Service
-Colvin