Exports: Corn sales up 51% from last week

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The USDA's U.S. Export Sales report showed that corn net sales of 339,400 metric tons (MT) were up 51 percent from last week, but down 46 percent from the 4-week average.  

Increases were reported for Japan (259,500 MT, including 82,200 MT switched from unknown destinations and decreases of 5,500 MT), China (72,700 MT), South Korea (71,700 MT, including 60,000 MT switched from unknown destinations), Venezuela (37,000 MT), Mexico (35,900 MT), and Costa Rica (25,000 MT).  Decreases were reported for Egypt (111,300 MT) and unknown destinations (81,400 MT).  

Net sales of 525,700 MT for the 2012/2013 marketing year were reported primarily for unknown destinations (316,200 MT), China (111,700 MT), and Mexico (72,800 MT).  

Exports of 666,700 MT were down 4 percent from the previous week and 16 percent from the prior 4-week average.  

The primary destinations were Mexico (257,500 MT), Japan (190,600 MT), China (65,600 MT), South Korea (58,200 MT), Cuba (26,100 MT), and Colombia (19,500 MT).

Optional Origin Sales:   For MY 2012/2013, outstanding optional origin sales total 570,000 MT, all Mexico.   

Corn futures closed higher on Wednesday, reversing losses in overnight trade. On Thursday futures opened 3/4 to 2 cents lower.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 339,423 224,236 115,187
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 656,744 612,230 694,490
High 1,331,862 1,331,862 1,331,862
Low 130,718 130,718 130,718
 
 
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