Corn exports climb 45 percent

Dairyherd -�According to the USDA's latest U.S. Export Sales report released July 8, corn net sales were at 621,800 MT, which is 10 percent below last week's report but 45 percent above the four-week average.

The report showed increases for �unknown destinations (250,600 MT), Japan (211,500 MT, including 128,300 MT switched from unknown destinations), Portugal (66,000 MT, including 60,000 MT switched from unknown destinations), Taiwan (63,300 MT), Spain (54,000 MT, switched from unknown destinations), and Venezuela (44,000 MT), were partially offset by decreases for Colombia (73,800 MT), the Dominican Republic (61,900 MT), Costa Rica (30,200 MT), and Guatemala (24,000 MT).

Net sales of 868,800 MT for delivery in 2011/2012 were mainly reported for unknown destinations (783,000 MT), Mexico (31,900 MT), Costa Rica (27,400 MT), and Honduras (19,800 MT).� Decreases were reported for Jamaica (11,000 MT) and the Dominican Republic (3,700 MT).

Exports of 1,040,800 MT were up 59 percent from the previous week and 14 percent from the prior 4-week average.� The primary destinations were Japan (352,200 MT), Mexico (181,500 MT), South Korea (115,600 MT), Portugal (66,000 MT), Venezuela (63,800 MT), and Spain (54,000 MT).

On Thursday corn closed higher has improved export demand and outside market support pushed prices higher. Futures were called 4 to 5 cents higher on Friday morning and remained strong at midsession.

REPORT THIS WEEK LAST WEEK DIFFERENCE ��Sales 621,847 691,729 -69,882 SALES 10 WEEKS 27 WEEKS THIS YEAR Average 509,999 735,826 749,933 High 843,214 1,914,908 1,914,908 Low 284,245 284,245 284,245

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