Export shipments
How much U.S. corn, soybeans and wheat actually left for other countries last week, who bought it, and whether the year is on pace for USDA's export forecast.
Week ending Thursday, October 1
Corn
- Shipped 53.8 million bushels (1.37 million metric tons) in the week ending Oct 1, down 13% from the week before.
- Marketing year to date: 280 million bushels, 4% ahead of last year's pace.
- That's 8% of USDA's 3,300 million bushel export forecast; hitting it takes about 62.9 million bushels a week from here (this week: 53.8).
- Top buyers this week: Mexico 540k t, Japan 373k t, Colombia 178k t, South Korea 142k t.
| Top buyers this week | Metric tons | Mil. bu |
|---|---|---|
| Mexico | 539,841 | 21.3 |
| Japan | 372,508 | 14.7 |
| Colombia | 177,792 | 7.0 |
| South Korea | 141,539 | 5.6 |
| Portugal | 27,870 | 1.1 |
Soybeans
- Shipped 41.8 million bushels (1.14 million metric tons) in the week ending Oct 1, down 2% from the week before.
- Marketing year to date: 146 million bushels, 31% ahead of last year's pace.
- That's 9% of USDA's 1,695 million bushel export forecast; hitting it takes about 32.3 million bushels a week from here (this week: 41.8).
- Top buyers this week: China 756k t, Algeria 127k t, Bangladesh 59k t, Germany 59k t.
| Top buyers this week | Metric tons | Mil. bu |
|---|---|---|
| China | 756,492 | 27.8 |
| Algeria | 126,680 | 4.7 |
| Bangladesh | 59,219 | 2.2 |
| Germany | 58,993 | 2.2 |
| Portugal | 35,887 | 1.3 |
Wheat
- Shipped 11.1 million bushels (0.30 million metric tons) in the week ending Oct 1, down 10% from the week before.
- Marketing year to date: 245 million bushels, 35% behind last year's pace.
- That's 33% of USDA's 750 million bushel export forecast; hitting it takes about 14.4 million bushels a week from here (this week: 11.1).
- Top buyers this week: Philippines 63k t, Bangladesh 59k t, Taiwan 51k t, South Korea 47k t.
| Top buyers this week | Metric tons | Mil. bu |
|---|---|---|
| Philippines | 63,280 | 2.3 |
| Bangladesh | 59,056 | 2.2 |
| Taiwan | 51,448 | 1.9 |
| South Korea | 46,597 | 1.7 |
| Mexico | 27,753 | 1.0 |
Source: USDA AMS, Grains Inspected and/or Weighed for Export, posted Mondays. Converted at 39.368 bu/metric ton for corn and 36.744 for soybeans and wheat. Marketing years start Sept. 1 (corn, soybeans) and June 1 (wheat). USDA's forecast is from the latest WASDE. Early in the year shipments usually run behind the straight-line pace and catch up later.
These are bushels that physically left the country (inspections). Export sales are new purchases for later delivery; they lead shipments by weeks or months.
USDA's ending stocks assume a certain export total. If shipments fall behind pace, USDA may cut exports and raise stocks later, which usually weighs on prices.
China is the swing buyer for soybeans; Mexico and Japan for corn. A big week to a new buyer can be the first sign of fresh demand.