Corn exports also weak, but wheat ends up ahead of expectations.

Ben Potter, Senior editor

April 26, 2018

2 Min Read
yelena-yemchuk/Thinkstock

For the week ending April 19, USDA didn’t have a lot of positive export news to share. Corn and soybean export sales both noticeably fell from the prior week’s totals, although wheat export sales managed better-than-expected results.

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After notching several large export sales between April 5 and 12, soybean export sales couldn’t stage a repeat performance last week. Old crop sales reached 13.6 million bushels, for another 6.1 million bushels in new crop sales for a total of 19.8 million bushels. That was about half of expected trade estimates of 40.4 million bushels and a far cry from the prior week’s total of 78.3 million bushels. Still, the weekly rate needed to meet USDA forecasts was reduced again, now at just 3.5 million bushels. 

Soybean export shipments of 16.4 million bushels were 11% higher than the prior week but 18% off the four-week average. China was the No. 1 destination, with 4.7 million bushels. Other top destinations included Indonesia, the Netherlands, Mexico and Taiwan. 

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Corn export sales last week saw 27.4 million bushels in old crop sales with 3.0 million bushels in new crop sales taken off the ledger, for a total of 24.4 million bushels. As with soybeans, that total was well behind the prior week’s total of 47.4 million bushels and trade estimates of 51.2 million bushels. The weekly rate needed to meet USDA forecasts was still trimmed down to 13.5 million bushels.

Corn export shipments of 67.0 million bushels topped the prior week’s total by 7% and the four-week average by 11%. Mexico was the No. 1 destination, with 13.2 million bushels, followed by South Korea, Colombia, Japan and Vietnam. 

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Wheat export sales found 10.9 million in old crop sales plus another 10.3 million bushels in new crop sales for a total of 21.2 million bushels. That far exceeded the prior week’s total of 6.4 million bushels and roughly doubled the average trade guess of 11.0 million bushels. The weekly rate needed to reach USDA forecasts is now 13.0 million bushels.

Wheat export shipments of 21.8 million bushels landed 30% above the prior week’s totals and 43% ahead of the four-week average. Thailand was the No. 1 destination, with 4.1 million bushels, followed by Mexico, the Philippines, Nigeria and South Korea. 

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Future sorghum sales to China will face steep uphill battles after the country announced a 179% tariff on April 17, but for the week ending April 19, the grain found 1.2 million bushels in export sales, mostly to China, Mexico and Taiwan.

Net cotton sales landed at 312,000 bales, which was 8% above the prior week’s total and 9% ahead of the four-week average.

Click the download button below for more charts and graphs from this week's report.

About the Author(s)

Ben Potter

Senior editor, Farm Futures

Senior Editor Ben Potter brings two decades of professional agricultural communications and journalism experience to Farm Futures. He began working in the industry in the highly specific world of southern row crop production. Since that time, he has expanded his knowledge to cover a broad range of topics relevant to agriculture, including agronomy, machinery, technology, business, marketing, politics and weather. He has won several writing awards from the American Agricultural Editors Association, most recently on two features about drones and farmers who operate distilleries as a side business. Ben is a graduate of the University of Missouri School of Journalism.

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