It's a COPY TO limit, to solve this, try with this:

--- Exportar a MS-Excel más de 65,000 registros (via Automation) ---
--- By MS-MVP VFP Cetin Bazos
http://www.portalfox.com/article.php?sid=1029

--- Exportar una tabla a Excel Formateando las columnas y mas de 65512 registros ---
--- By Jose Samper
http://www.portalfox.com/article.php?sid=999

--- Exportar a Excel mas de 65536 Registros ---
--- By GiulianoR
http://www.portalfox.com/article.php?sid=1415

--- Copiar a Excel tablas de mas de 16.384 registros ---
--- By MS-MVP VFP Luis María Guayán
http://www.portalfox.com/article.php?sid=374
HTH.

>I´m trying to export a file to excell, but only 16383 records are in the output file.
>there are about 40000 records in total that should be exported