New Corn Export Sales Come In Below Expectations

Posted on August 30, 2012


This week shows net sales reductions of -33,700 for the 2011/2012 marketing year net sales, which is not really that unusual for the end of a marketing year.  New sales for the 2012/2013 marketing year were for 194,600 metric tons, 30% less than the earlier week.

Week Ending: 8/23/2012
Country Metric Tons Marketing
Year
Notes
Guatemala* 26,300 2011/2012  
Japan* 23,300 2011/2012 Includes 26,700 MT switched from unknown destinations & decreases of 3,300MT
El Salvador* 21,700 2011/2012  
Mexico* 4,300 2011/2012  
China* 56,900 2011/2012 Includes 60,000 MT switched from unknown destinations & decreases of 5,800MT
Canada* -24,900 2011/2012  
South Korea* -39,700 2011/2012  
Columbia* -7,500 2011/2012  
Unknown Destinations* -86,700 2011/2012  
2012/2013 Marketing Year  
Jamaica 15,000 2012/2013  
Taiwan 18,600 2012/2013  
Unknown Destinations 19,100 2012/2013  
Japan 113,000 2012/2013  
Mexico -22,300 2012/2013  

China imported 5.2 times more amount of corn in the current marketing year (2011/12) than they did last year. One has to wonder how much of this is being stored vs used.

Week Ending: 8/23/2012 2011/2012 Marketing Year Data
Country Metric Tons YTD
Metric Tons
Last YTD
Metric Tons
Change
Mexico 76,800 9,449,300 6,937,700 +36.2%
Venezuela 45,000 1,280,100 855,700 +49.6%
Guatemala 26,300 549,100 624,800 -12.1%
Japan 101,000 11,714,900 14,133,800 -17.1%
China 61,600 5,119,300 977,200 NM
El Salvador 21,200 365,800 478,700 -23.6%

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The Author of this post has a bear credit spread in Corn futures. Neither the author of this article or any family members own any futures contracts or options on futures in any of the other commodities mentioned in this article. For a complete disclosure of the policy on ownership of stocks/commodities written about or recommended, please see about page

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